TRT World spoke with the Vice Chairman of the AK Party at the Government’s Blockchain Summit at Istanbul University.
On October 21st, Istanbul University hosted the Blockchain Summit of the ruling AK Party, in which Turkish President Recep Tayyip Erdogan delivered a speech, along with a panel of international experts from various fields, Turkiye presented blockchain technology. touched upon the opportunity to take advantage of
Since its conceptualization in 2008, blockchain has become widely recognized as the underlying infrastructure backbone of cryptocurrencies like Bitcoin. However, blockchain use cases are currently being implemented in a variety of industries, from education and finance to digital governance and agriculture.
TRT world We spoke with the first presenter of the summit, Omer Ileri, vice chairman of the AK party and head of information and communication technology. He believes blockchain will “open up new opportunities” for the country and believes the time has come to transfer Turkey’s achievements in the defense industry. into the private realm.
“I believe Turkey has potential,” Ileri said. “We have young people and a results-oriented and agile work culture.”
He emphasized that its applications go beyond just crypto and how various other sectors can benefit from blockchain solutions. “It will impact logistics, supply chain technology and fintech. [financial technology]and even healthcare,” said Ileri, adding that the summit is part of a public outreach on new disruptive technologies like blockchain.
“The purpose was to get the message across to the masses. [Türkiye has] We have the potential to make great strides in this area, and this requires greater public awareness and public ownership. ”
Omer Ileri, AK Party Vice-Chairman and Head of Information and Communication Technology, believes that blockchain offers a wide range of opportunities for industrial use in Turkey. (Burak Catakli / TRTWorld)
Importance of regulation
When it comes to cryptocurrencies, Turquie is one of the fastest growing markets in the world, ranking among the top 20 countries for cryptocurrency adoption according to the Chainalysis Global Crypto Adoption Index 2022. I’m here.
In addition to a sizeable base of cryptocurrency investors, the local community is made up of university clubs, Web3 startups, blockchain developers and academics.
The country hosts important events such as Blockchain Economy Istanbul and Istanbul Blockchain Week and aims to achieve much more.
Meanwhile, there have been signs that governments are taking aggressive steps towards blockchain adoption.
In 2019, Turkish authorities announced plans for a nationwide blockchain infrastructure along with a detailed roadmap for the digital lira, a blockchain-based central bank digital currency (CBDC).
Around the same time, Turkey’s financial watchdog, the Capital Markets Commission, announced plans to design a regulatory framework for cryptocurrencies that had previously escaped scrutiny. After an extraordinary cryptocurrency boom since the pandemic began, regulatory scrutiny was swiftly implemented in April 2021, shortly before his two cryptocurrency exchanges in Turkey went bankrupt.
Although the law enacted a payment ban on the use of cryptocurrencies for goods and services, investments are still permitted. It is hoped that in the near future, tax legislation will be drafted to cover cryptocurrency transactions and assets.
And for Turkiye’s nascent blockchain ecosystem to thrive, Ileri wants to strike a balance between legislation that protects consumers but doesn’t stifle innovation. “Relevant regulations need to be put in place to ensure that blockchain systems thrive in Turkey,” he declared.
Ileri also said that governments should really mobilize resources to set up startups (targeted at blockchain startups), ranging from direct funding opportunities to indirect tax-based incentives available to businesses. , said that it has introduced various programs.
“Going forward, government agencies are very aware of these upcoming opportunities and we are confident that relevant regulations and incentive programs will be introduced in the future.”
When it comes to institutional adoption, Jason Allegrante, Fireblocks’ head regulatory counsel and CCO, says the key is whether Türkiye can “design places with road rules for business.” [and] For entrepreneurs to come in and build these blockchain businesses. ”
Allegrante said TRT world He believes Web3, the next version of the internet that uses blockchain, cryptocurrencies and NFTs, will be “a big step forward for a country like Turkey.”
Blockchain club growth
There is a strong belief that Türkiye’s tech-savvy youth will give the country a competitive edge in the global blockchain race.
During the summit, several stands showcased blockchain clubs from universities across the country with enterprising and enthusiastic students. A key activity these clubs are involved in is public education on blockchain and cryptocurrencies.
One of them, the Turkish-German University Blockchain Club, was launched in March this year and has more than 200 members.
Numerous blockchain clubs have sprung up in Turkish universities to participate in public education on blockchain and cryptocurrencies. (Burak Catakli / TRTWorld)
One of the club members, Sude Nur Ceylan, said that he is an economics student and is organizing events on his university campus to explain what blockchain is. TRT world“So we want to explain that to people.”
As students begin to become interested in experimenting with blockchain solutions, one initiative involving blockchain clubs in universities in Turkey and Germany is using sensors to apply blockchain technology to learn more about plants. It is a “waterless agriculture project” that collects a lot of information.
Ceylan said he would consider moving the project forward by next summer.
Just before the domestic blockchain summit, President Erdogan announced a blockchain-powered project called the e-Human Portal. It will serve as a digital service point for the Turkish President’s Office to share data related to careers, distance learning and educational services and tools. acquisition of talent.
The portal enables students, recent graduates, and civil servants to access public and private sector employment and internship opportunities, certification training for civil servants, career fairs, events, and educational content.
Earlier this year, Turkey’s state-owned automobile company TOGG announced a strategic partnership with Avalanche blockchain developer Ava Labs to develop safe and fast mobility services using smart contracts.
Source: TRT World
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