Topic: Turkey working on their own digital by end of 2020 (Read 686 times)
I sincerely hope they wouldn't start acting like the Chinese who announced that they would be launching their own Cryptocurrencies in 2020 and then went ahead to wage a war against Cryptocurrencies operating in the region especially exchanges that has been operating on the region, Turkey looks like it wouldn't copy from the playbook of the Chinese though and I al excited to see how their Cryptocurrency would turn out.
The main reason for everything that is happening now is the digital asset race, which, in my opinion, was asked by the USA and China. Many countries now, especially the most developed ones, are striving to move their national currency into a fully digital field. As we can see, these will be stable coins, fully centralized, linked to the national currency of a particular country.
Such a currency will have a much greater level of flexibility than its physical embodiment, which can help such a currency become very common in the global economy, in the global circulation of such digital assets. Let's see who is the first to cope with this task.
it's all very funny to watch. they all don’t understand that nobody will need their digital currencies, because cryptocurrency was created to be a universal payment tool all over the world. creating centralized stable coin in your country is the funniest idea of governmentsSuch a currency will have a much greater level of flexibility than its physical embodiment, which can help such a currency become very common in the global economy, in the global circulation of such digital assets. Let's see who is the first to cope with this task.
The main reason for everything that is happening now is the digital asset race, which, in my opinion, was asked by the USA and China. Many countries now, especially the most developed ones, are striving to move their national currency into a fully digital field. As we can see, these will be stable coins, fully centralized, linked to the national currency of a particular country.
Such a currency will have a much greater level of flexibility than its physical embodiment, which can help such a currency become very common in the global economy, in the global circulation of such digital assets. Let's see who is the first to cope with this task.
Such a currency will have a much greater level of flexibility than its physical embodiment, which can help such a currency become very common in the global economy, in the global circulation of such digital assets. Let's see who is the first to cope with this task.
Yes, they don't want to be left behind. This is the new technology and like you said it will move a nation to a fully digital field. They need to get there fast so people don't start using other currencies other than their official ones. I am not sure how that is going to work. I think it will take a long time to get a whole country to use digital currency but you could get people to exchange their fiat to the new digital currency if you have sort of booths like in an election where people go and instead of voting they convert their fiat. Maybe it will need to be made law? It would probably work like it does when a country redesigns their notes and those go into circulation.
I read a report from a market research firm, saying that at least 18% of Turks own crypto asset investment, which is a very high level compared to the world. The Turkish Lira has also dropped uncontrollably. This could be the reason for the Turkish government to issue its own cryptocurrency.
Totally understandable considering their currency Lira is kinda unstable and really prone to inflation. it's like whether you are choosing to stay with currency that's unstable and don't give you anything but instead losing your wealth or bitcoin with relatively the same volatility but have the chance of increasing your wealth. 
The main reason for everything that is happening now is the digital asset race, which, in my opinion, was asked by the USA and China. Many countries now, especially the most developed ones, are striving to move their national currency into a fully digital field. As we can see, these will be stable coins, fully centralized, linked to the national currency of a particular country.
Such a currency will have a much greater level of flexibility than its physical embodiment, which can help such a currency become very common in the global economy, in the global circulation of such digital assets. Let's see who is the first to cope with this task.
Such a currency will have a much greater level of flexibility than its physical embodiment, which can help such a currency become very common in the global economy, in the global circulation of such digital assets. Let's see who is the first to cope with this task.
The enthusiasm of government regarding digital money is a hot topic in various media although it will be centered in the same vision as fiat ,it never hurts to see how far the development will go this condition will also benefits bitcoin if everyone want to exchange to bitcoin so I think we can profitable too only time will prove it ,2030 digital crypto will be main payment in the world
Even if the government created their own coin, its true that the cryptomarket will still enjoy that adoption and as a whole it can go up. In the next 10 years cryptomarket will be more different and I do hope that its more on the positive side and more countries already using cryptocurrency and declare this as a legal transactions, I’m confident on this one.
The enthusiasm of government regarding digital money is a hot topic in various media although it will be centered in the same vision as fiat ,it never hurts to see how far the development will go this condition will also benefits bitcoin if everyone want to exchange to bitcoin so I think we can profitable too only time will prove it ,2030 digital crypto will be main payment in the world
I read a report from a market research firm, saying that at least 18% of Turks own crypto asset investment, which is a very high level compared to the world. The Turkish Lira has also dropped uncontrollably. This could be the reason for the Turkish government to issue its own cryptocurrency.
State cryptocurrency is when paper money seems much more anonymous. As always the state benefits from this unilaterally. But in any case the currency will completely switch to digital, so you can forget about anonymity.
You're about the anonymity situation but I don't think the government will totally switch to digital currency and what I learned about the national digital currency is that the government issue it to seize the small tx fee and almost instant transaction with other benefit crypto offered.After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?
Of course more and more countries will be creating their own crypto currency till the entire market becomes polarized and at that point it might be a demon that will be difficult to manage because since its going to be fully digital and in the hands of government, I am not sure they would be willing to create a cap for it and also because the cost of creating more wouldn't be as much as we have it today which is one of the reasons why government does not just go ahead and produce paper currency, they might just be creating more to solve short term problem to create a long term one which is my fear. Also, the polarization and the independence we would see would make international exchange difficult and wouldn't be much different than we have it currently.
After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?
Of course more and more countries will be creating their own crypto currency till the entire market becomes polarized and at that point it might be a demon that will be difficult to manage because since its going to be fully digital and in the hands of government, I am not sure they would be willing to create a cap for it and also because the cost of creating more wouldn't be as much as we have it today which is one of the reasons why government does not just go ahead and produce paper currency, they might just be creating more to solve short term problem to create a long term one which is my fear. Also, the polarization and the independence we would see would make international exchange difficult and wouldn't be much different than we have it currently.
State cryptocurrency is when paper money seems much more anonymous. As always the state benefits from this unilaterally. But in any case the currency will completely switch to digital, so you can forget about anonymity.
Turkey is going to be the next superpower. They are the only neutral growing economy who has good relation with both US and Russia, Asia and Europe, Shia and Sunnis, Saudi and Iran, Jews and Syrians, gas and oil.
They are the link of east to west and north to south and they need now to take the lead to turn the world economics towards a crypto led economy. Turkey could use it's own crypto to trade with multiple partners.
They are the link of east to west and north to south and they need now to take the lead to turn the world economics towards a crypto led economy. Turkey could use it's own crypto to trade with multiple partners.
This is great and this would definitely bring more growth in Cryptocurrency as many countries are adopting the system and I just hope those yet to join also do the needful. This is incredible I must say
Turkey following tunisia that will starting developt their own digital currency.more countries developt their digital currency it will give positive impact to crypto market,many investors thinking new era of currency usage will change soon.adoption in many countries should start after they issue their own currency.everything was changed now,and goverment must follow this changed,so their country will be more competitive in internasional trade and rellation.
Before that, the Bank of China announced that it would adapt to the cryptocurrencies. The Chinese government will soon launch its cryptocurrency.
Although this affects positively the crypto world that is driven by speculation, I am not sure whether it will change the country in question. Especially countries like Turkey does not have a strong economy like China.
So the only crypto-currency may not be liberation for countries like Turkey but can be considered as positive news.
It may take a few years later to see another country will follow this step.
Turkey following tunisia that will starting developt their own digital currency.more countries developt their digital currency it will give positive impact to crypto market,many investors thinking new era of currency usage will change soon.adoption in many countries should start after they issue their own currency.everything was changed now,and goverment must follow this changed,so their country will be more competitive in internasional trade and rellation.
Before that, the Bank of China announced that it would adapt to the cryptocurrencies. The Chinese government will soon launch its cryptocurrency.
Although this affects positively the crypto world that is driven by speculation, I am not sure whether it will change the country in question. Especially countries like Turkey does not have a strong economy like China.
So the only crypto-currency may not be liberation for countries like Turkey but can be considered as positive news.
After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?
Actually, I'm confused here. Why most of the countries trying to own cryptocurrency because already lots of crypto available on the crypto world?
Turkey following tunisia that will starting developt their own digital currency.more countries developt their digital currency it will give positive impact to crypto market,many investors thinking new era of currency usage will change soon.adoption in many countries should start after they issue their own currency.everything was changed now,and goverment must follow this changed,so their country will be more competitive in internasional trade and rellation.
Before that, the Bank of China announced that it would adapt to the cryptocurrencies. The Chinese government will soon launch its cryptocurrency.
Although this affects positively the crypto world that is driven by speculation, I am not sure whether it will change the country in question. Especially countries like Turkey does not have a strong economy like China.
So the only crypto-currency may not be liberation for countries like Turkey but can be considered as positive news.
if they have to create government crypto coins, they better have their own blockchain that is easy to watch by everyone and not the private blockchain. the number of governments trying to at least adopt the blockchain is growing. digital Lira, digital Euro and digital yuan. I guess the US is going to be creating since they already have USD stablecoins.
I believe this competition is not only for China and Turkey, other countries I believe are in research and following this trend. There will be times when countries will publish their respective cryptocurrencies. At present all government parties are in the making prototypes stage and in time they will simultaneously launch if there are legalits from the world bank.
I have came across few names too. Ecuador, China, Senegal, Singapore, Tunisia, Estonia, Japan, Palestine, Russia and Sweden, Japan, South Korea, Thailand and Turkey are some of the countries that have either already introduced their own digital coin or about to release them soon. The list is just getting started and it wont take long before it expands to all nations. Finally, we are moving towards the era of digital currencies. hero member
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Who cares if it's crypto when it's centralized, controlled and under the eyes of the government. They would never put a cap on fiat, they can change the rules, they can now just more easily spy on transactions if they produce the wallets. It's a shit scenario. Fuck state owned crypto.
Basically it is a step to turn their fiat into cryptocurrency. Not for the sake of being centralized and some characteristics that privacy coin mostly has. The main advantage they can see is to make their transactions much more efficient in terms of speed and reliability. The government will not and never support their own crypto if they will not have control over it in such a way that they need to regulate it for the sake of their economic stability and improvements.
I don't trust this shit at all.
Mind you, people won't be force to use the national digital coin, for crypto to be mainstream of payments need something like this and if the governments create their own crypto is a plus for the whole community and crypto user.
if some countries make their crypto, of course other countries will also follow it because surely they won't want to miss this advanced technology, I'm sure in the future other countries will make their crypto
China and Russia governments have announced their opinion for the currency backed digital crypto-asset but these rumours were not able to pass the rumours level, unfortunately. Maybe the new advanced technology of the developing countries will change the opinion of developed countries regarding the crypto-blockchain ecosystem and I am glad to see real work by Turkey.Almost all governments probably have some working group examining how blockchain and concurrently a digital currency can benefit their economies. In the examples of these types of countries using blockchain first, helps ultimately reduce corruption and in some circumstances, greatly enhances surveillance of their peoples. Regardless, as foretold several years ago by many in these forums, blockchain technology is revolutionary and will be adopted by the world. Crypto and digitial currencies are just one use-case.
In the case for China, China is creating a crypto for more power, influence and control. Concurrently, China is evolving at a very rapid tech-pace, in many regards passing the U.S., but using their advancements to further hold onto their power, out of fear from outside influence and more recently, issues like HK.
The social credits system, a digital currency that will most definitely be tracked and etc. While what has been stated by China is great, the intent and purpose... use of blockchain/crypto is fundamentally and ideologically incompatible for what crypto inherently stands for.
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