Turkey working on their own digital by end of 2020

[NewRanger]

Turkey following tunisia that will starting developt their own digital currency.more countries developt their digital currency it will give positive impact to crypto market,many investors thinking new era of currency usage will change soon.adoption in many countries should start after they issue their own currency.everything was changed now,and goverment must follow this changed,so their country will be more competitive in internasional trade and rellation.

[tk808]

if some countries make their crypto, of course other countries will also follow it because surely they won't want to miss this advanced technology, I'm sure in the future other countries will make their crypto

China and Russia governments have announced their opinion for the currency backed digital crypto-asset but these rumours were not able to pass the rumours level, unfortunately. Maybe the new advanced technology of the developing countries will change the opinion of developed countries regarding the crypto-blockchain ecosystem and I am glad to see real work by Turkey.

Almost all governments probably have some working group examining how blockchain and concurrently a digital currency can benefit their economies. In the examples of these types of countries using blockchain first, helps ultimately reduce corruption and in some circumstances, greatly enhances surveillance of their peoples. Regardless, as foretold several years ago by many in these forums, blockchain technology is revolutionary and will be adopted by the world. Crypto and digitial currencies are just one use-case. 

In the case for China, China is creating a crypto for more power, influence and control. Concurrently, China is evolving at a very rapid tech-pace, in many regards passing the U.S., but using their advancements to further hold onto their power, out of fear from outside influence and more recently, issues like HK.


The social credits system, a digital currency that will most definitely be tracked and etc. While what has been stated by China is great, the intent and purpose... use of blockchain/crypto is fundamentally and ideologically incompatible for what crypto inherently stands for.

[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?

Since bitcoin has become so terrifying to them, these are just methods being derived by these countries to flood the market with centralized currency and the reason why they are quickly doing that is because of the people that are yet to know about bitcoin in their own country which I know it is still quite much, so they want to quickly introduce the coin to them, but I believe they will fail in this their centralized projects.

This is not the first time we are seeing all these centralized projects, many of them has been released as we can see that we have close to 3000 projects in the market which most of them have even promised to do better than bitcoin, but even with all their promises, there is still nothing to write home about as many people would still prefer to use bitcoin.

The last time i checked Turkish was not terrified by bitcoin but the Chinese government and i believe the reason why most of the countries are planning to create their own national currency was because of the cashless payments which have increased over the years and crypto offer almost immediate, safe and cheap transaction (the reason for the increased in numbers of crypto user in the US is a good example).

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?

Will see it if ever it successfully launch in 2020. This will be a great news because the countries gradually embracing the beauty of digital currency. Turkey is a large country and I am sure if it will enter this industry, then it will be benificial for cryptocurrency users and traders. Regardless with the competition in libra and bitcoin, I think soon the development from digital currency will arise.

Yes, this is will be huge plus for to the crypto sphere but i don't see any form of competition between Libra coin and bitcoin cause Libra is just an altcoin which it future success level is not even guarantee.

[Katashi]

It's not a surprise for me if every country creates its own digital currency after the Chinese government statement, all of them have a single purpose which is to have full control over this modern system using blockchain technology. I'm not totally against it because somehow I think their action will make a good impact on mass adoption for cryptocurrency since they will have to enlighten their citizens on how to use digital currency.

[uray]

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)

If all the countries are trying to come up with their version of stable coin how transparent that can be and what they will be backing to make it stable, all the markets move on a daily basis including gold and how you consider those assets stable even if they are backed by those and how things will go in the future is a puzzle for me. Sure all the countries will come up with their version of digital coin but how they will battle each other is to be seen.

[adjed]

I knew that the Chinese Cryptocurrency project would be a wake-up call for numerous countries to jump on the bandwagon, even those that has the capability and those that do not, it would be interesting to see how this all ends up, which country would come out at the top smelling like roses and which country's Cryptocurrency project would go down in a blaze of glory,, the Cryptocurrency space is maturing and this is one of the first steps, we are gradually inching towards worldwide adoption and it's amazing to be here to watch it happen.

[dataispower]

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.

This makes sense buddy, these very centralized cryptocurrency systems are defeating the original aim for enacting crypto (Bitcoin as the pace setter). Well, since they will be acceptable by their jurisdictions, it creates more awareness and adoption for crypto, not necessarily posing a threat to Bitcoin.
 

[Drai]

Truly the Chinese are a very powerful set of people and even though they have been against Cryptocurrencies for years, it was discovered that the Chinese are one of the driving forces of Cryptocurrencies, so now that they have officially madre their interest in Cryptocurrencies and blockchain known, other countries are rushing and falling all over themselves to pick up the trend before it becomes too late, I am still waiting to see what the US would do, continue to pretend as if blockchain doesn't matter or take an official stand for or against it.

[suzanne5223]

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.

The issue is the main governments that are starting to rally behind their own state ran crypto are countries that are full of civil unrest and pseudo dictatorships. This doesn't bode well for their freedom, the government will create the wallets and tie them to individuals, they can then easily look at any person of interest and watch all of their transactions. This will definitely be used maliciously by these governments against people they don't like. You think they won't have copies of their private keys as well? They could easily load up a wallet sending transactions to drug dealers (or what have you let your imagination go wild) wallets who get arrested a week later and then and say oh look here their wallet showed a transaction from well known political activist, were going to have to go get him.

I don't trust this shit at all.

You might be right due to the role played by the government in terms of centralization but we can't know what will really happen if we don't give them another chance cause we can't judge people with what are they once were but who they are.
Mind you, people won't be force to use the national digital coin, for crypto to be mainstream of payments need something like this and if the governments create their own crypto is a plus for the whole community and crypto user.

It's not up to us or even the people in that country, that's why it's a dictatorship. It's their choices and control over everything. They don't care what anyone thinks.

Yes, you're right because when it comes to the government issue the citizens opinion don't count but if the government create national digital currency it will give crypto better exposure.

if some countries make their crypto, of course other countries will also follow it because surely they won't want to miss this advanced technology, I'm sure in the future other countries will make their crypto

China and Russia governments have announced their opinion for the currency backed digital crypto-asset but these rumours were not able to pass the rumours level, unfortunately. Maybe the new advanced technology of the developing countries will change the opinion of developed countries regarding the crypto-blockchain ecosystem and I am glad to see real work by Turkey.

Almost all governments probably have some working group examining how blockchain and concurrently a digital currency can benefit their economies. In the examples of these types of countries using blockchain first, helps ultimately reduce corruption and in some circumstances, greatly enhances surveillance of their peoples. Regardless, as foretold several years ago by many in these forums, blockchain technology is revolutionary and will be adopted by the world. Crypto and digitial currencies are just one use-case. 

In the case for China, China is creating a crypto for more power, influence and control. Concurrently, China is evolving at a very rapid tech-pace, in many regards passing the U.S., but using their advancements to further hold onto their power, out of fear from outside influence and more recently, issues like HK.


The social credits system, a digital currency that will most definitely be tracked and etc. While what has been stated by China is great, the intent and purpose... use of blockchain/crypto is fundamentally and ideologically incompatible for what crypto inherently stands for.

Governments issued crypto currency will enhances government surveillance of their peoples and a senior crypto enthusiast once said for crypto to be mainstream of payment it will require a little sacrifice and people can still decide if they cherish their anonymity by avoiding the government digital currency.

[logicgate]

I believe this competition is not only for China and Turkey, other countries I believe are in research and following this trend. There will be times when countries will publish their respective cryptocurrencies. At present all government parties are in the making prototypes stage and in time they will simultaneously launch if there are legalits from the world bank.

I have came across few names too. Ecuador, China, Senegal, Singapore, Tunisia, Estonia, Japan, Palestine, Russia and Sweden, Japan, South Korea, Thailand and Turkey are some of the countries that have either already introduced their own digital coin or about to release them soon. The list is just getting started and it wont take long before it expands to all nations. Finally, we are moving towards the era of digital currencies. 

[electronicash]

if they have to create government crypto coins, they better have their own blockchain that is easy to watch by everyone and not the private blockchain. the number of governments trying to at least adopt the blockchain is growing. digital Lira, digital Euro and digital yuan. I guess the US is going to be creating since they already have USD stablecoins.

[plast555]

Turkey following tunisia that will starting developt their own digital currency.more countries developt their digital currency it will give positive impact to crypto market,many investors thinking new era of currency usage will change soon.adoption in many countries should start after they issue their own currency.everything was changed now,and goverment must follow this changed,so their country will be more competitive in internasional trade and rellation.

Before that, the Bank of China announced that it would adapt to the cryptocurrencies. The Chinese government will soon launch its cryptocurrency.

Although this affects positively the crypto world that is driven by speculation, I am not sure whether it will change the country in question. Especially countries like Turkey does not have a strong economy like China.

So the only crypto-currency may not be liberation for countries like Turkey but can be considered as positive news.

[jr.coastapps]

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?

Actually, I'm confused here. Why most of the countries trying to own cryptocurrency because already lots of crypto available on the crypto world?

[awik p]

Turkey following tunisia that will starting developt their own digital currency.more countries developt their digital currency it will give positive impact to crypto market,many investors thinking new era of currency usage will change soon.adoption in many countries should start after they issue their own currency.everything was changed now,and goverment must follow this changed,so their country will be more competitive in internasional trade and rellation.

Before that, the Bank of China announced that it would adapt to the cryptocurrencies. The Chinese government will soon launch its cryptocurrency.

Although this affects positively the crypto world that is driven by speculation, I am not sure whether it will change the country in question. Especially countries like Turkey does not have a strong economy like China.

So the only crypto-currency may not be liberation for countries like Turkey but can be considered as positive news.

Although Turkey is not a strong country like China, but if the steps taken by Turkey are adopted by many countries, it will make changes in the crypto world. As for China, I think there is no doubt, because 70% of the crypto rotation originates from that country. at least Turkey has taken a positive step in the world of crypto, hopefully other countries will follow

[bittick]

Turkey following tunisia that will starting developt their own digital currency.more countries developt their digital currency it will give positive impact to crypto market,many investors thinking new era of currency usage will change soon.adoption in many countries should start after they issue their own currency.everything was changed now,and goverment must follow this changed,so their country will be more competitive in internasional trade and rellation.

Before that, the Bank of China announced that it would adapt to the cryptocurrencies. The Chinese government will soon launch its cryptocurrency.

Although this affects positively the crypto world that is driven by speculation, I am not sure whether it will change the country in question. Especially countries like Turkey does not have a strong economy like China.

So the only crypto-currency may not be liberation for countries like Turkey but can be considered as positive news.

Although Turkey is not a strong country like China, but if the steps taken by Turkey are adopted by many countries, it will make changes in the crypto world. As for China, I think there is no doubt, because 70% of the crypto rotation originates from that country. at least Turkey has taken a positive step in the world of crypto, hopefully other countries will follow

The question is how long those countries will adopt crypto-like turkey? That's still a plan and every time the plan can be changed depends on the situation. Turkey is not contributing a lot to the icos. Another country might have the different opinion than turkey to adopt crypto.
It may take a few years later to see another country will follow this step.

[Darlingtona]

This is great and this would definitely bring more growth in Cryptocurrency as many countries are adopting the system and I just hope those yet to join also do the needful. This is incredible I must say

[Tipstar]

Turkey is going to be the next superpower. They are the only neutral growing economy who has good relation with both US and Russia, Asia and Europe, Shia and Sunnis, Saudi and Iran, Jews and Syrians, gas and oil.
They are the link of east to west and north to south and they need now to take the lead to turn the world economics towards a crypto led economy. Turkey could use it's own crypto to trade with multiple partners.

[duuuuude]

State cryptocurrency is when paper money seems much more anonymous. As always the state benefits from this unilaterally. But in any case the currency will completely switch to digital, so you can forget about anonymity.

[audaciousbeing]

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?

Of course more and more countries will be creating their own crypto currency till the entire market becomes polarized and at that point it might be a demon that will be difficult to manage because since its going to be fully digital and in the hands of government, I am not sure they would be willing to create a cap for it and also because the cost of creating more wouldn't be as much as we have it today which is one of the reasons why government does not just go ahead and produce paper currency, they might just be creating more to solve short term problem to create a long term one which is my fear. Also, the polarization and the independence we would see would make international exchange difficult and wouldn't be much different than we have it currently.

[posi]

State cryptocurrency is when paper money seems much more anonymous. As always the state benefits from this unilaterally. But in any case the currency will completely switch to digital, so you can forget about anonymity.

You're about the anonymity situation but I don't think the government will totally switch to digital currency and what I learned about the national digital currency is that the government issue it to seize the small tx fee and almost instant transaction with other benefit crypto offered.

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?

Of course more and more countries will be creating their own crypto currency till the entire market becomes polarized and at that point it might be a demon that will be difficult to manage because since its going to be fully digital and in the hands of government, I am not sure they would be willing to create a cap for it and also because the cost of creating more wouldn't be as much as we have it today which is one of the reasons why government does not just go ahead and produce paper currency, they might just be creating more to solve short term problem to create a long term one which is my fear. Also, the polarization and the independence we would see would make international exchange difficult and wouldn't be much different than we have it currently.

The entire market won't be polarize cause the government will still issue fiat currency but it might not be as before the creation of their digital coin and in other to avoid more economic break down, their digital currency will definitely have cap but there's chance that they won't realize it to the public.