The Central Bank of Georgia will release a white paper on “Digital Larry” and plans to launch a CBDC pilot in the first half of this year

The National Bank of Georgia (NBG) will publish a “Digital Larry” white paper that will allow potential partners to fine-tune their proposals for the testing phase of the project, Bitcoin.com reported. A pilot version of Georgia's CBDC was originally expected to launch in 2022, but the NBG has delayed the trial and intends to release a document in the coming months detailing the concept of a national digital currency that other participants will use to complete their proposals. The monetary authority plans to launch a pilot proposal in the first half of this year. The NBG stated that the demand for CBDC stems from the need to better meet the requirements of the digital economy and improve the effectiveness of economic policies, in addition to emphasizing that the state-backed digital lari will have legal tender status in Georgia.