The National Bank of Kyrgyzstan prepared a demo version of the digital som platform on a closed blockchain. National Bank Chairman Melis Turgunbaev announced during a meeting of the National Council for the Development of Virtual Assets and Blockchain Technologies.
According to him, since May 23, the National Bank has been working with the company Build block TECH, jointly developing the prototype.
«The demo version includes the issuance of digital som, burning, and transfers between participants and users. It is installed within the National Bank’s closed environment, and necessary tests have been conducted. The next step will involve phased development, delivery, and implementation of the digital som platform — including the deployment of a pilot version and preparation of the required infrastructure. Following successful pilot testing, the platform will transition to full-scale production,» Melis Turgunbaev said.
A representative of the financial regulator demonstrated the centralized management model of the digital som platform. She noted that the prototype, built using blockchain technology, confirms the feasibility and key functional requirements set by the National Bank.
«The next major step will be the pilot launch of the digital som project, carried out in three stages based on technical and functional requirements. The first stage will deploy the full infrastructure within the National Bank, connect commercial banks, and enable transfers between their mobile applications. Upon successful completion and audit, the Central Treasury will be connected to the platform for social and government payments. The third phase will cover offline payments, including transactions without Internet access or with limited connectivity. After successfully piloting all three phases, the platform will be rolled out nationally and scaled,» the National Bank representative explained.
Following the demonstration, a service agreement for the development and implementation of the digital som platform was signed between the National Bank of Kyrgyzstan and Build block TECH.
