During this period, a platform for the digital som will be developed, and tests for P2P transfers will be conducted, which involve making transfers without intermediaries.
Funding for this project will be provided by the National Bank of Kyrgyzstan.
Information about the digital som
According to data from the NBKR, the issuer of the digital som will be the Central Bank itself. In the appendix to the draft law, the regulator noted that the digital som will not replace cash or non-cash money but will become an additional form of currency.
The NBKR plans to conduct testing of the digital som in three stages. The first stage includes issuance, the creation of a digital wallet, and system testing among NBKR employees. The second stage will involve connecting the Central Treasury to the digital som platform and conducting test payments of marked digital soms as social payments. The third stage will cover offline payments, setting limits on amounts, and payments via QR codes and Bluetooth.
According to the NBKR's plan, users will be able to credit digital soms to their digital wallets and use them through smartphones, including the ability to operate in offline mode. Individuals and legal entities will have the opportunity to freely transfer funds between different forms, for example, from cash soms to digital ones.
