Digital tenge will enable
transactions even when the Internet is unavailable. National Payment
Corporation CEO Binur Zhalenov reported on the advantages of the third form of
the Kazakh national currency, created in addition to cash and non-cash forms.
According to him, when conducting transactions, the National Bank guarantees
the security of transactions and the safety of funds. The difference between
digital payments and traditional ones lies in the convenient infrastructure and
control, including parental control. Digital money will play a crucial role in
increasing the efficiency of government spending. Budgetary digital tenge will
be marked. The new form of national currency will be available through POS
terminals, QR codes, mobile banking applications and biometrics.
“The offline digital tenge technology allows
making all offline transactions, even if the 3G network is inactive. In
general, payments remain available with no Internet connectivity. The digital tenge
platform is based on blockchain technology. This enables integrating it with
other blockchains, thereby creating a bridge between traditional finance and
the world of digital assets for centralized finance,” said Binur Zhalenov, CEO
of the National Payment Corporation of Kazakhstan.
Today, digital tenge is being launched in a
pilot mode. There are plans to scale up the project next year and
involve new participants with an expansion of services. Overall, the
implementation of digital tenge is expected to be completed by the end of 2025.
