Turkey working on their own digital by end of 2020

[posi]

After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also  joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?

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[Pearls Before Swine]

Every country in the world could create their own crypto, but none could hold a candle to bitcoin. 

These state sponsored coins are just going to be centralized versions of crypto, and their real purpose is likely to track people's purchases with pinpoint accuracy, something they currently can't do if people are using physical cash.  Do any of you think this is a good thing?  I don't.  So let Turkey and China have their coins and see how that works out for them.  As long as bitcoin is around (and cash for that matter), I won't be supporting a gov't cryptocurrency. 

Privacy is rapidly becoming a thing of the past, and there's probably no debate going on about this, is there?

[g4r1n1m]

im really not surprised.. eventually every country will have its own stable coin
the race has begun a lot of time ago, the real winners will be the early adopters of blockchain technology
(its us)

[albrots]

Each country can make their own coins easily and are managed under the auspices of the government. The stable coin created can be used for all digital transactions. Developed and developing countries are interested in technology owned by blockchain. So for the future, the possibility of BLCockchain technology and its legality will be debated.

[antsam]

The presence of Blockchain with crypto currency cannot be dammed, because it is part of technological advances that must be ready to be accepted or will be left behind. I think that inevitably many countries will start adopting crypto currencies, so that they can control them more

[yazher]

After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also  joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?

This is just the start, I think most of the capable countries most of them will follow the footstep of these two powerful countries by next year.
They need to get on the trend if they don't want to be left behind by the world's most powerful countries. this is the era we will hoping to see next year, 2020 will be the year of most of the capable countries making its own digital currency. I wonder when will our country join this innovation.

[sazonk]

It is very interesting that China and Turkey are competing to make crypto-based digital currencies, but however it is made it still will not be able to drop Bitcoin as a major crypto. And it's strange why they make digital currencies while they know the risks with digital money especially crypto based, prices will not be certain, which obviously will lead to state economic instability if everything is based on crypto and especially based on blockchain technology. Yes, except they can already make counter coins for BTC or ETH. And of course if the majority of Bitcoin holders in the world can monopolize the price of BTC it is the same as monopolizing the economic condition of a country. That's what distinguishes Bitcoin as a digital asset and not for physical assets that can be used for everyday purposes because of the uncertainty of the price of BTC or crypto itself.

[CryptopreneurBrainboss]

Who cares if it's crypto when it's centralized, controlled and under the eyes of the government. They would never put a cap on fiat, they can change the rules, they can now just more easily spy on transactions if they produce the wallets. It's a shit scenario. Fuck state owned crypto.

Aren't the so called big boys in the cryptocurrency space already an exact of what you just described? Ripple (XRP) and EOS are an example of a centralized cryptocurrency yet the community is patronizing them. If this is what we have to sacrifice for the adoption of cryptocurrency globally then I'm ok with government owned cryptocurrency although that doesn't mean I would be patronizing them. The development of this national cryptocurrency will skyrocket the awareness on cryptocurrency and probably enlightening more individual on digital currency.

We needs this government centralized coins so more individual can realize how important bitcoin is since it isn't operated in the manner those centralized coins would be. While bitcoin provides freedom, the government issued coin would just be a replica of fiat (mode of operation) on blockchain probably stablecoins.

[LbtalkL]

Who cares if it's crypto when it's centralized, controlled and under the eyes of the government. They would never put a cap on fiat, they can change the rules, they can now just more easily spy on transactions if they produce the wallets. It's a shit scenario. Fuck state owned crypto.

If it is centralized who cares just don't use it, but the good thing is, it will spread crypto awareness in the whole nation or the world, everyone will be curious and start learning about cryptocurrency especially bitcoin. People will search for history and will find and end up with the real thing which is BTC. This is a free marketing for bitcoin 

[Zeke_23]

Who cares if it's crypto when it's centralized, controlled and under the eyes of the government. They would never put a cap on fiat, they can change the rules, they can now just more easily spy on transactions if they produce the wallets. It's a shit scenario. Fuck state owned crypto.

If it is centralized who cares just don't use it, but the good thing is, it will spread crypto awareness in the whole nation or the world, everyone will be curious and start learning about cryptocurrency especially bitcoin. People will search for history and will find and end up with the real thing which is BTC. This is a free marketing for bitcoin 

Why not, if their creation of centralized coin can help us in many ways, why not?
It is not something that can affect bitcoin or any other currency, regulation from the government is not that bad, actually it can also help to avoid illegal activities such as scam project and so on.
If every country will create their own centralized coin, it is also for the good of crypto. At least crypto is starting to expand and started to adopt by many countries.

[Bttzed03]

It's a race now to whoever adapts to the technology and launch their own digital currency now.

The urgency might have been caused by Libra also.

~
the question is will more countries also creating their own national cryptocurrency?

From that same source you provided:

Last week, an association of over 200 German private banks called for a digital euro. The U.S. Federal Reserve is also apparently researching how to integrate digital currencies to its retail payments as it is hiring a manager for the initiative.

[Eugenar]

Who cares if it's crypto when it's centralized, controlled and under the eyes of the government. They would never put a cap on fiat, they can change the rules, they can now just more easily spy on transactions if they produce the wallets. It's a shit scenario. Fuck state owned crypto.

Basically it is a step to turn their fiat into cryptocurrency. Not for the sake of being centralized and some characteristics that privacy coin mostly has. The main advantage they can see is to make their transactions much more efficient in terms of speed and reliability. The government will not and never support their own crypto if they will not have control over it in such a way that they need to regulate it for the sake of their economic stability and improvements.

[Sacramentus]

Well that's a good news and should be a plus to the cryptocurrency world as a whole. I also believe the Chinese move in making cryptocurrency a legal thing in the country will change some countries like India over regulatory compliance on cryptocurrency

[acdc]

Venezuela has previously issued a Petro currency. This coin was backed by the mine, but it was unable to achieve success. I think the Turkish currency will experience the same result, it seems that people don't like a centralized cryptocurrency managed by a government.
However, this could bring a positive result to the cryptocurrency market and Blockchain technology, through which the cryptocurrency and blockchain technology will become more known.

[Christinebeauty]

Indeed more and more countries are joining the train. Binance has also announced its partnership with Ukrainian government to provide an advisory role in their upcoming finances digitization and crypto regulations. https://cryptopress.news/binance-to-play-advisory-role-in-the-upcoming-ukraine-crypto-regulations/

[Shasha80]

This is good news for the development of cryptocurrency, after China which intends to make its own cryptocurrency coin. Now turn
Turkey follows in the footsteps of China by making coins for their own countries. This is positive growth for development cryptocurrency,
because I am sure that soon there will be other countries that will also make their own cryptocurrency. Let it be all countries make their
own centralized coins, I'm sure none of them can beat bitcoin. There will be accelerating cryptocurrency and blockchain technology is
legal worldwide.

[caffu chino]

After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also  joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?

if later China and Turkey succeed in releasing their crypto currency. and positive public response, there will probably be many countries that will follow their lead. especially their competitors, the US. You know that country always didn't want to lose in any field. so if it's about the technology of the future, the US will not stand by and just watch, surely they will do something.

[VanDeinsberg12]

After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also  joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?

I never heard if the IMF boss has already advised the country to create their crypto. As far as I know, this to help the country to defend its country from an embargo that has already happened. Turki is also a country which is near from the crisis.

I never think if IMF boss gives advice for a country to create their own crypto because so many bankers are feeling contradicted with it. For me, it can't be a strong reason why more country is interesting to issue its own nation cryptocurrency.

We have so many things to be discussed. May I know where are you getting that rumour if IMF boss is giving it? I meant about advice that already mentioned in your post.

[ecnalubma]

Definitely most countries will transform their monetary system through digital assets. The bold move of Chinese government is strong influence that soon more countries will follow same path. But yet digital currencies will have no problem and can coexist with Bitcoin but probably citizens will still prefer holding speculative digital assets.

[No Pain No blood]

more and more countries have begun to participate in the development of the blockchain. maybe this can make mass adoption happen in the future. China, Turkey and maybe soon the US and other European countries will also join in this race. When the crypto market started to mature, many positive things happened, I was very happy to hear that.