The Turkish government announced plans to create a national blockchain infrastructure. The government wants to use the distributed ledger technology for public administrations like land administration, academic certificates and customs. The Ministry of Industry and Technology announced these plans on Wednesday during the Strategy 2023 presentation in Ankara.
Strategy 2023 is a forum where the government presents its plans for the coming years. Turkey sees blockchain and distributed ledger technology as one of the biggest priorities for the coming year. In the Eurasian country blockchain is one of the fastest growing trends. In the report they even mentioned Bitcoin by name, acknowledging its presence and impact on the world.
The blockchain Turkey will build is going to be open-source. On top of that the Ministry of Industry and Technology wants to work together wit regulators to create a regulatory blueprint for decentralized applications running on that blockchain. That way it will be easier to companies to build on the blockchain.
Turkey keen on crypto
According to research Turkish people are among the biggest investors in crypto. Approximately 20 percent of the Turks say they own cryptocurrency. Traditionally Turkish people also buy a lot of gold, because the Turkish national currency (Lira) has been losing its value against the euro and dollar.
The interest in crypto goes further than just an investment. Takasbank announced plans for a gold-backed stablecoin and trading platform. Banks store the gold, while investors use the blockchain to trade. Ownership of the gold pieces is therefore determined by data on the blockchain. As a result there’s no doubt over who owns which piece of gold.
Turkish government not alone
The Turkish government is not the only one interested in blockchain technology. China wants to introduce a state-owned currency later this year, while the Marshall Islands are doing the same. In Argentina they want to use blockchain technology to help people below the poverty line, while San Marino is rewarding green citizens in crypto.
Also published on Medium.