The Central Bank of Kazakhstan stated that during the launch of a pilot project on the digital tenge platform, funds allocated for financing the construction of the railway line from the sovereign wealth fund of Kazakhstan were marked.
According to the terms of the pilot project, digital tenge settlements will take place throughout the entire supply chain, right up to the final suppliers and contractors. At the same time, marked digital tenge will be paid only to organizations that have fulfilled all obligations.
The Central Bank of Kazakhstan clarified that access to bank accounts in digital tenge for all consumers will be organized through existing interfaces of market participants in a format familiar to them.
The Government of Kazakhstan and the State Anti-Corruption Agency plan to develop procedures for monitoring the spending of budget funds during the implementation of the pilot project and, if successful, to extend them to targeted spending in agriculture, construction and the payment of social benefits.
Earlier, the Central Bank of Kazakhstan reported to the country’s government on the successful launch of a pilot project to use the digital tenge in retail transactions.
Source: Bits
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