Kyrgyzstan is entering the world of CBDCs (central bank-backed digital currencies) with President Sadyr Japarov approving the “digital som” for widespread use.
With rivals like Russia and Belarus, who are nearing completion of their CBDCs, the race to digitize national currencies is on. Humor us while we put on our tinfoil hat… ask yourself, are CBDCs opening up a split in technology? Will we see a “Splinternet?” revolution as some reject CBDCs and others embrace it?
Let’s get into it.
CBDCs Legal Framework Sets the Stage for Pilot Testing
The newly signed amendments to the Constitutional Law of the Kyrgyz Republic aim to facilitate the launch of a pilot project for the digital som. According to a statement from the president’s office, “The purpose of the Constitutional Law is to launch a pilot project of a prototype of a national digital currency, the ‘digital som,’ as well as to create a legal basis and its status.”
(source)
With authority now vested in the National Bank, Kyrgyzstan’s digital som will soon see real-world trials later this year. A final verdict on rollout looms over 2026.
Kyrgyzstan’s CBDC pursuit slots neatly into a global economic shake-up. While Nigeria, Jamaica, and the Bahamas are all working on CBDC projects, the EU is racing to define the next iteration of its euro. The U.S., meanwhile, is hedging, dragging its feet on committing to a digital dollar.
ECB is deciding if they roll out #CBDC this October 2025.
Everyone in the EU
has the chance to speak up.
Contract your MP while it still matters
pic.twitter.com/N88jyyG6Xj
— Resist CBDC (@Resist_CBDC) April 16, 2025
Closer to Kyrgyzstan, Belarus eyes 2026 for its fully operational digital ruble, setting up phased access for businesses and individuals. Russia’s digital ruble isn’t far behind, aiming for the same mid-decade debut.
Will The CBDC Project Cause a Splinternet?
For years, seedier parts of the internet like 4chan (RIP) have threatened that internet users will create an alternate Splinternet if centralized technologies like CBDCs come along. “They can’t arrest us all,” is often the slogan.
The larger point is that legislation for CBDCs won’t pass in Western countries because it will cripple corporate interests on the internet. Content is currency. In other words, the silver bullet is that trillions of dollars depend on the internet working exactly as it does now.
We’ll see. Many predict a Splinternet war is inevitable with the introduction of AI, cryptocurrencies, and online censorship.
The splinternet cannot be 100% effective; there will be holes. But maybe it’s worth fighting for one.
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Key Takeaways
- Kyrgyzstan is entering the world of CBDCs (central bank-backed digital currencies) with President Sadyr Japarov approving the “digital som” for widespread use..
- While Nigeria, Jamaica, and the Bahamas are all working on CBDC projects, the EU is racing to define the next iteration of its euro.
- Many predict a Splinternet war is inevitable with the introduction of AI, cryptocurrencies, and online censorship.
The post Trump Shelved CBDCs for Stablecoins: But Kyrgyzstan CBDC Is Next Phase of Splinternet appeared first on 99Bitcoins.
