Turkish President wants the country to be a creator in the digital assets world

Turkish President wants the country to be a creator in the digital assets world

Recep Tayyip Erdoğan, the President of Turkey, has been known for not having a very pro-Crypto stance since the start; however, in recent times, he has made a few announcements that seem to be contrary to popular opinion. 

In an address to the students at Istanbul University during the Blockchain Istanbul Programme on Friday, Erdoğan commented on blockchain technology, its relevance, and his vision for Turkey in the digital assets sector. He counted on blockchain technology to be full of advantages, given that crypto gambling is taken care of.

Talking about his vision for Turkey in the digital assets world, the Turkish President said he wants the nation to be a producer and not just a consumer. The statement comes out as a sign of the country’s government’s optimistic outlook toward the industry. However, that has not been the usual case considering the government’s ban on using crypto for payments in April 2021, followed by the call for an urgent and restrictive crypto bill later. However, the government has not given any follow-ups on that. At present, the crypto sector in Turkey remains largely unregulated. 

Erdoğan also mentioned that the country wants to establish its metaverse, and he had also attended a forum organized by his justice and development party in the metaverse. He also tried encouraging the students to participate in the development and innovation, including blockchain technology, and open doors to more extensive and more productive channels instead of getting involved in activities like crypto gambling that have no basis. 

He also mentioned that the ministries in the country are closely following blockchain, and technology in the private sector is being diligently monitored. The country’s central bank is also said to conduct studies on cryptocurrencies. Earlier this month, Turkey also announced a blockchain-based e-Human project.

While mentioning the role blockchain can play in protecting intellectual property, he also mentioned the potential of the blockchain-based decentralized ledger in changing the existing supply chains.