eTenge

Part of the CBridge CBDC family, for stackable layers of income, (qazempire.org) Issuser Address: GC3F4NWJLHTGIXQWTUFHYKZIRIYHP4AOIUY2YSC5AEVZI3GSVD75FVUY ICO On 21/10/2023 CB:100,000%

Project CBridge asset

While the word tenge in Kazakh means a set of scales, the root is from the Mongolic word teng (ᠲᠡᠩ), originating from Chinese 等 or 戥, which means "being equal, balance"

After the breakup of the Soviet Union in December 1991, most of the formerly Soviet republics attempted to maintain a common currency. Some politicians hoped to at least maintain "special relations" among former Soviet republics (the "near abroad"). Other reasons were the economic considerations for maintaining the ruble zone. The wish to preserve strong trade relations between former Soviet republics was considered the most important goal

Although the Central Bank of Russia took over the State Bank of the USSR in 1992 and continued to ship Soviet notes and coins to the central banks of the newly independent countries, the political situation, was not favorable for maintaining a common currency

As a result, the final collapse of the ruble zone began in 1993, so the President of Kazakhstan issued a decree "On introducing national currency of Republic of Kazakhstan" in November 1993 to replace the Soviet currency, and thus was borne the Tenge

In 2021, the National Bank of the Republic of Kazakhstan (NBK) implemented the Digital Tenge Pilot Project on a prototype platform in close cooperation with financial market participants, the expert community, and international partners to assess its technical feasibility based on DLT (R3′s Corda Platform)

The Digital Tenge Hub collaborative platform was launched in June 2022 to study the potential economic benefits and costs, regulatory capabilities of the system, and the potential for ecosystem development

Digital Tenge's (eTenge or Electronic Tenge) entire life cycle, including the programmability and demonstration of the offline transactions chain, was tested and resulted in resounding success: 

?Economic modeling results revealed the absence of risks to monetary policy, financial stability, and the economy (https://nationalbank.kz/en/page/Digital-Tenge)?️
- National Bank of the Republic of Kazakhstan

2023 eTenge research investigated widespread use by all users and covers advanced scenarios to test new hypotheses and ideas for wholesale and retail CBDC. Two separate test were conducted (industrial and experimental) and results will be published in the December 2023 Final Report

2023-2025 Implementation Roadmap

Jan 2023 - Dec 2024: Development of a solution to be used a production-grade one
Jan 2025 - Dec 2025: Adding members, creating new services, and cross border integration

The launch of the Digital Tenge will occur in three stages:
- social payments (benefits, pensions) and public procurement
- offline payment settlements infrastructure for areas with limited internet access
- full commercial operation and integration of all market participants

Link to PDF: 18 Sept 2023 Status Report. Digital Tenge: implementation plan for Phase One (https://nationalbank.kz/file/download/95205)
eTenge is set to launch in 2025: "Poised to Influence Global Discourse" (https://astanatimes.com/2023/09/kazakhstans-digital-tenge-set-to-launch-in-2025-poised-to-influence-global-discourse/)

Since 2020, Kazakhstan saw a significant increase in the use of digital technologies, largely driven by the pandemic:

?️In 2022, the volume of non-cash card transactions in Kazakhstan reached 102.8 trillion Tenge (229 billion U.S. Dollars), accounting for 99% of the country’s GDP?️
- US International Trade Administration (https://trade.gov/market-intelligence/kazakhstan-finance-digital-currency-be-launched)

Recent Events

15 September 2023: NBK established the  (https://www.msn.com/en-us/money/other/kazakhstan-forms-new-agency-to-oversee-its-cbdc-implementation/ar-AA1gTz86)National Payment Corporation (https://www.msn.com/en-us/money/other/kazakhstan-forms-new-agency-to-oversee-its-cbdc-implementation/ar-AA1gTz86) (NPC) to assume responsibility for overseeing all interbank payments, such as clearing services, money transfers, and digital identification. One of the key partners in this endeavor is Binance through its BNB chain. Along with Binance and in partnership with Freedom Finance Bank, a local Kazakstan institution, they launched the first regulated digital asset platform in Kazakhstan

National Bank of Kazakhstan (https://nationalbank.kz/en/page/Digital-Tenge)
Digital Tenge

10 October 2023: Kazakhstan Returns (Clawbacks) Assets Worth $453.9 Million in Nine Months of 2023 according to Financial Monitoring Agency Chairman Zhanat Elimanov (https://astanatimes.com/2023/10/kazakhstan-returns-assets-worth-453-9-million-in-nine-months-of-2023/). Elimanov’s report indicated:
- the "shadow economy" (black market) declined to 18.7%
- focus on protecting citizens but notably youth from online drug purchases by blocking the financial transactions of drug dealers (a total of 924 bank accounts linked to the laundering have been closed)
- specialized unit to combat economic crimes involving crypto assets was established, with a mechanism for arresting crypto wallets and confiscating digital currency
- 9 illegal crypto exchanges (17+ billion tenge or $35.5 million trading volume) were liquidated
- for the first time, Kazakhstan seized 47 million tenge ($98,318) worth of crypto from criminal activities and placed the seized assets on the agency’s special Binance account
- the agency also identified and blocked 976 attempts to transfer funds to accounts associated with terrorist and extremist organizations

16 October 2023: Kazakhstan’s Liberal Environment Has Potential to Create Unicorns, Says Tim Draper (https://astanatimes.com/2023/10/kazakhstans-liberal-environment-has-potential-to-create-unicorns-says-tim-draper/) 

?️In Kazakhstan, I’m seeing great freedom. And I think this is going to be one of the hotbeds. It will take maybe a decade. But you know, we’re hoping to find the next unicorn here. And once you find that one unicorn, all the money comes to that country. I think people globally need more freedom. I think weak leaders are the ones who try to control everybody and tell them all what to do. President of Kazakhstan [is] a strong leader who’s willing to say ‘I don’t need to be the president for life, I am just going to be here for seven years.’ He is a strong leader because he is trusting people, setting them free. Freedom gives you the expanse, the ability to create and to imagine a new world, a better world, a better consumer experience, a better way of living, a better health. All those things happen because of freedom. When you don’t have freedom, you’re constrained and you can’t think outside of the box. You’re stuck in a box. That has been the case in too many countries. And fortunately, here in Kazakhstan, it’s all opening up?️
- Tim Draper, Draper University

17 October 2023: (Belt and Road Forum 2023) Xi meets Kazakh president (http://www.chinaview.cn/20231017/87f135df34fc43d584c555fdc613402b/c.html)

?️No matter how the international situation changes, China and Kazakhstan should pass on the concept of good-neighborliness and friendship from generation to generation, and promote further development of China-Kazakhstan permanent comprehensive strategic partnership. The two countries should promote exchanges in digital technology including cross-border e-commerce, artificial intelligence, big data and blockchain?️
- President Xi

Xi also called for stronger people-to-people and cultural exchanges and closer cooperation, noting that a mutual visa exemption agreement between the two countries will take effect and that the Kazakhstan tourism year will be launched in China in 2024

18 October 2023: Kazakhstan: Harnessing Geography and Infrastructure in Global Trade (https://www.msn.com/en-xl/news/other/kazakhstan-harnessing-geography-and-infrastructure-in-global-trade/ar-AA1irpLC). Kazakhstan, the Central Asian titan, is poised to usher in a new era of prosperity and play a significant role in shaping the future of global trade, aiming to account for 85% of all land transit traffic from China to Europe, a route that has gained increasing strategic importance in recent years. With an extensive border with China, Kazakhstan is uniquely positioned to capitalize on the burgeoning trade between the world’s second-largest economy and Europe

18 October 2023: Kazakh AI Startups in Food Delivery, Education, Gaming Build Global Presence (https://astanatimes.com/2023/10/kazakh-ai-startups-in-food-delivery-education-gaming-build-global-presence/). Digital Bridge forum in Astana on Oct. 12-13

19 October 2023: Kazakhstan’s New Era of Citizen Engagement: A Blueprint for Governance (https://www.msn.com/en-xl/news/other/kazakhstan-s-new-era-of-citizen-engagement-a-blueprint-for-governance/ar-AA1ivOlx). In an era where distrust in the government is a common sentiment worldwide, Kazakhstan is endeavoring to build bridges of trust with its citizens. The government’s approach appears to be two-pronged: involving the civil sector in the country’s transformation and introducing legislative changes to empower citizens

CBRIDGE

eTenge is the "first layer" or foundation of CBridge (CBDCBridge): the first CBDC in history to be created using CBridge technology. Each additional CBDC created/upgraded with this novel self-banking technology (https://t.me/qazempire23/14) will become an additional layer, forming stackable layers of residual/passive income for investors. In addition, each CBridge asset will use generative AIML to self-develop and improve upon itself exponentially to create a groundbreaking, self-sustaining, self-governing, and self-empowering ecosystem will finally bring true sovereignty and freedom to the world ?️❤️

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