Topic: [2019-07-10] Turkey’s New Economic Roadmap Calls for Central Bank Cryptocurrency (Read 169 times)
February 27, 2020, 04:31:55 PM
It’s good that many states realize the importance of blockchain
February 25, 2020, 01:11:15 AM
Recently, most states are considering creating their own national stable coin. Such coins will soon appear in large numbers in all states, so Turkey in this regard will not lag behind other states. Soon, not those states that will create their stable digital coins will be allocated, but those that will not do this. I am quite positive about this process.
July 11, 2019, 03:04:45 AM
The Turkish government is dictator, there is no freedom of expression and freedom of the press, the president of Turkey wants to do schools only for women and seems more inclined to make wars and impose their wills. Erdogan repeatedly talked about his interest rate and inflation theories, something that seems like the old governor of the bank did not listen to him... already it was to be expected that the dictator would not accept a no for a long time. A president like Erdogan will not accept bitcoin so easily
July 10, 2019, 06:30:28 PM
Quote
Few details of the proposed cryptocurrency are known, but the country has been entertaining the idea of a national digital asset, Turkcoin, since at least early 2018. According to reports at the time, the idea was pitched by lawmaker Ahmet Kenan Tanrikulu, the deputy chair of Turkey’s Nationalist Movement Party and the country’s former Industry Minister.
The news that the central bank of Turkey will develop a blockchain-based currency comes days after Turkey’s president, Recep Tayyip Erdogan, fired its governor, Murat Cetinkaya. According to the Financial Times, Erdogan said this week that the central bank will provide a greater degree of support to the economy.
The news that the central bank of Turkey will develop a blockchain-based currency comes days after Turkey’s president, Recep Tayyip Erdogan, fired its governor, Murat Cetinkaya. According to the Financial Times, Erdogan said this week that the central bank will provide a greater degree of support to the economy.
I remain extremely skeptical when it comes to economies that have historically not been the most stable (look up Turkey inflation, for those of you who haven't been up to date with the situation) trying to issue their own cryptocurrencies, as if that's going to be the savior of their economy.
The fact is that this is most likely just another ploy to suck in foreign investment as well as investment from everyday citizens who blindly trust in government initiatives like these. Potentially, blockchain technology may also be used to track spending more accurately for the government, as opposed to offering any tangible benefits to actual citizens.
Just look at the completely botched Petro experiment - understand what the ulterior motives of countries who want to launch their own centralized tokens are, and you'll quickly realize not to buy into the idea.
July 10, 2019, 01:38:55 PM
https://www.coindesk.com/turkeys-new-economic-roadmap-calls-for-central-bank-cryptocurrency?hootPostID=5108aecb2d7aa63c06b2980f5d7933a7
An economic road map unveiled by the government of Turkey this week includes several items related to blockchain, including a bid to create a central bank digital currency based on the technology.
The Eleventh Development Plan, published on the government’s official website, was submitted to the Turkish Parliament on July 8, according to regional reports. It covers the period between 2019 and 2023, and is broadly intended to serve as a guiding point for improving Turkey’s economy.
The wide-ranging plan covers an array of subjects, but notably states that a “blockchain-based digital central bank money will be implemented,” according to a translation.
The document also indicates that legal and technology infrastructure will be fostered by the government in an effort to utilize blockchain for “transport and customs” purposes. Additionally, blockchain is mentioned as one of a number of new approaches, including artificial intelligence and connected devices — also known as the Internet of Things — that will be used to enhance public services. In this latter case, it’s not clear at this time how blockchain will be utilized.
Few details of the proposed cryptocurrency are known, but the country has been entertaining the idea of a national digital asset, Turkcoin, since at least early 2018. According to reports at the time, the idea was pitched by lawmaker Ahmet Kenan Tanrikulu, the deputy chair of Turkey’s Nationalist Movement Party and the country’s former Industry Minister.
The news that the central bank of Turkey will develop a blockchain-based currency comes days after Turkey’s president, Recep Tayyip Erdogan, fired its governor, Murat Cetinkaya. According to the Financial Times, Erdogan said this week that the central bank will provide a greater degree of support to the economy.
Other elements of the Eleventh Development Plan, while not directly related to cryptocurrency and blockchain, could ultimately impact businesses working in those areas.
For example, the government plans to introduce a Regulatory Experiment Area, an Association of Payment Services and Electronic Money Institutions, and the Istanbul Finance and Technology Base. Turkish banks have long partnered with crypto exchanges, though these institutions often impose strict listing and on-boarding policies.
An economic road map unveiled by the government of Turkey this week includes several items related to blockchain, including a bid to create a central bank digital currency based on the technology.
The Eleventh Development Plan, published on the government’s official website, was submitted to the Turkish Parliament on July 8, according to regional reports. It covers the period between 2019 and 2023, and is broadly intended to serve as a guiding point for improving Turkey’s economy.
The wide-ranging plan covers an array of subjects, but notably states that a “blockchain-based digital central bank money will be implemented,” according to a translation.
The document also indicates that legal and technology infrastructure will be fostered by the government in an effort to utilize blockchain for “transport and customs” purposes. Additionally, blockchain is mentioned as one of a number of new approaches, including artificial intelligence and connected devices — also known as the Internet of Things — that will be used to enhance public services. In this latter case, it’s not clear at this time how blockchain will be utilized.
Few details of the proposed cryptocurrency are known, but the country has been entertaining the idea of a national digital asset, Turkcoin, since at least early 2018. According to reports at the time, the idea was pitched by lawmaker Ahmet Kenan Tanrikulu, the deputy chair of Turkey’s Nationalist Movement Party and the country’s former Industry Minister.
The news that the central bank of Turkey will develop a blockchain-based currency comes days after Turkey’s president, Recep Tayyip Erdogan, fired its governor, Murat Cetinkaya. According to the Financial Times, Erdogan said this week that the central bank will provide a greater degree of support to the economy.
Other elements of the Eleventh Development Plan, while not directly related to cryptocurrency and blockchain, could ultimately impact businesses working in those areas.
For example, the government plans to introduce a Regulatory Experiment Area, an Association of Payment Services and Electronic Money Institutions, and the Istanbul Finance and Technology Base. Turkish banks have long partnered with crypto exchanges, though these institutions often impose strict listing and on-boarding policies.
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