March 4, 2024

Turkey will launch its national cryptocurrency within 1 year

Turkey will launch its national cryptocurrency within 1 year

Turkish President Recep Erdogan announced that a national cryptocurrency will be launched in the country.It is expected that it will significantly strengthen the state economy and increase its investment attractiveness.

According to the president’s statement to the Turkish government, the national cryptocurrency test should be completed by the end of 2020. It is expected that the issuer will be the Central Bank of the country.

Turkey will not be limited to one cryptocurrency. In addition to the digital lyre, the government will create an instant payment platform based on it. The Central Bank will assist in the implementation of the project by the Council of Scientific and Technological Research.

The president has more hope in his owncryptocurrency. The digital currency should strengthen the country's economy, turning Turkey into a modern financial center that can meet the highest requirements in the global investment field. In addition, the digital lyre should help the local economy due to its simplicity, speed and low cost of transactions.

Recently, Turkey is also building largeblockchain plans. They plan to introduce technology in the public sector, logistics, social services and customs. All this tells us that the country is ready to adapt to the new economic realities, which are actively being formed thanks to cryptocurrencies.

More details we are likely to getonly next year. Erdogan gave the government a rather impressive deadline for the implementation of the project, which is not surprising. If the country is going to focus on cryptocurrency, the issue should be worked out thoroughly. It only tells us about the scope of the project and the hopes that lay on it. We will only have to follow the cryptocurrency race, which is already changing the balance of power in the political arena.