Our country’s (Turkey) capital and financial markets, clearing, collateral, central counterparty and Risk Management in this context and provide important services such as qualified central counterparty the provider, payment system, Bank, and R & D center incorporating features such as the establishment of the financial infrastructure of Takasbank, especially in recent years, increasing importance all over the world and continues to work on block chain technology.
Biga Digital Gold
In this context, as the first product of the studies on blokzincir technology, we have the right pride and joy to announce the transition to the implementation of our project, which has the brand name “Biga digital gold” and which allows the transfer of gold, which is based on physical gold and which can be converted into a digital asset, without any time constraints, with blokzincir technology, and as a member of the Borsa Istanbul Group,
In order to enable the use of Blokzincir technology in the financial sector, the focus is on providing the functions of digitalization of assets that have a physical basis.
As a result of the studies carried out, a ‘Digital Asset Transfer platform’ has been established which allows the transfer of digital assets using blockzincir technology, is based on physical basis, has no value and can be realized in accordance with existing regulations and is separated from many projects announced around the world.
BİGA
The asset that will be traded on the Digital Asset Transfer platform is the digital value, which is called “BiGA” and is produced as the equivalent of each gram of gold that is physically stored in Borsa Istanbul vaults. The system has 3 main capabilities for digital assets: issuance, redemption and transfer.
Besides these, additional features such as Integration, Reconciliation capabilities, monitoring and reporting are provided between the Biga platform and the Gold Transfer system, which works with blokzincir technology.
As of 30/12/2019, Ziraat Bank, Vakıfbank, Garanti BBVA, Albaraka Türk Katılım Bankasi, Kuwaiti Türk Katılım Bankasi and Ziraat Katılım Bankasi participated in the “Biga Digital Gold” Project.
Thus, together with the participating banks, Turkey’s first known network of Blocs was established. The gold balances will be transferred 24/7 between the participating banks with the improvements they will make in their systems from the platform offered by Takasbank.
We wish that the “Biga Digital Asset Transfer platform”, which is designed, developed using Takasbank’s own internal resources and which can be a reference to the next generation solutions, will be beneficial to the economy of our country and present it to the public.
