Turkish Bank’s Blockchain Platform for Digital Gold Transfers Goes Live
Turkish bank Takasbank launched BiGA Digital Gold platform, which allows transfers of digital assets backed by physical gold.
Blockchain technology guarantees the safety of transactions within the system and compliance with established standards, and also confirms the presence of bullion in the vaults of the Istanbul Stock Exchange. The platform allows banks to issue, transfer and settle in digitized gold.
The digital assets used by themselves have no value, since they only confirm the transfer of the equivalent of one gram of gold.
In addition to Takasbank, which is the central clearing house and clearing house in the country, other financial organizations, both private and state-owned, are involved in the project..
Turkey’s approval of a plan to create a national blockchain infrastructure has stepped up the development of such projects. In addition, the new development plan includes the development of a digital lyre.
text: Ivan Malichenko, photo: aa