The mayor of Konya said that the administration of the Turkish city is studying the issue of issuing its own cryptocurrency andcreating a blockchain-based financial ecosystem.
Mayor Ugur Ibrahim Altay talks about the city's plans (Uğurİbrahim Altay) said in Ankara during a local congress on the creation of «smart cities». Judging by the mayor’s statement, the city is exploring the possibility of issuing the City Coin cryptocurrency and developing a financial ecosystem on the blockchain.
Dr. Ali Osman Shibikdiken (Ali OsmanÇıbıkdiken), the head of the Konya Science and Technology Valley, spoke about the development of City Coin. The first thing his team of seven blockchain developers did was “start looking for ways to use technology to finance social programs.”
The project will allow local government and othersstakeholders to manage the blockchain social assistance reserve fund. The city plans to launch a prototype within six months and begin work within a year. Konya hopes to become a global model for local governments through the City Coin project. Shibikdiken said:
“The cryptocurrency we are currently developing iswill be used in social assistance programs, municipal corporations, public transport and environmental services. This local ecosystem on the blockchain will serve the residents of Konya. The project will also develop a payment system that will allow the use of cryptocurrency in the work of many municipal services. ”
According to a detailed report by the Konya Chamber of Commerce,More than 10 different “smart city” projects have been implemented in the city: from a payment system for using contactless credit cards in public transport to a smartphone application designed to provide government services.
In November, Turkish President Recep Tayyip Erdoganstated that in 2020 the government will finish testing digital currency from the Central Bank of the Republic of Turkey. In addition, last September, the Turkish government shared plans to create a state system using blockchain technology.
</p></p>Read this:
India will release its own digital currency, but the ban on private cryptocurrencies will not be lifted
Wales will launch its own cryptocurrency
North Korea creates its own cryptocurrency
India plans to issue its own cryptocurrency
British Virgin Islands will launch its own cryptocurrency
Tunisia will issue a state cryptocurrency – digital dinar