<p>Turkey is working to issue a blockchain-based national digital currency.</p> <p>Resmi Gazete, Turkey’s only official journal that publishes new legislation and official announcements, <a href="https://www.resmigazete.gov.tr/eskiler/2019/11/20191104M1-1.pdf">published</a> a document Monday, which says that the first trials of digital lira should be conducted and finalized by the end of 2020.</p> <p>Digital lira is planned to be issued by the country’s central bank to strengthen Turkey’s economy. "The main objective is to establish a financial sector with a strong institutional structure that can respond to the financing needs of the real sector at a low cost, offer different financial instruments to a wide investor base through reliable institutions and support Istanbul's goal of becoming an attractive global financial center," reads the document.</p> <p>China is also <a href="https://www.theblockcrypto.com/linked/35493/chinas-central-bank-digital-currency-is-ready-after-5-years-of-development">expected to launch</a> its digital currency in the near future, after five years of research and development. Last week, an association of over 200 German private banks <a href="https://www.theblockcrypto.com/linked/45311/association-of-over-200-german-private-banks-calls-for-digital-euro">called</a> for a digital euro. The U.S. Federal Reserve is also apparently <a href="https://www.theblockcrypto.com/linked/45829/us-feds-new-job-posting-shows-it-is-researching-on-how-to-integrate-digital-currencies-to-payments">researching</a> how to integrate digital currencies to its retail payments as it is hiring a manager for the initiative.</p>