Turkish Government Announces Plans for National Blockchain Infrastructure

The Ministry of Industry and Technology of the Turkish Government announced its plan for a national blockchain infrastructure used in public administration on Sept. 18 in Ankara.   

Strategy 2023, a presentation set out by the Turkish Ministry of Industry and Technology, pointed out blockchain and distributed ledger technology as priorities for the coming year. The definition of blockchain technology outlined in Strategy 2023 states:  

"Blockchain, which became popular with virtual currencies like Bitcoin, delivers a distributed communication infrastructure to provide trust between parties on transactions without the need for a central authority. This feature enables many different use cases that address transparency and reliability issues, from smart contracts to supply chains. Because it removes any intermediaries, blockchain technology builds new business models that will shape the future."  

In a survey outlined by Startup Genome, blockchain was marked as one of the fastest-growing technology trends, reaching a 101.5% increase in early-stage startup funding globally.   

The Ministry of Industry and Technology also aims to work with Turkish regulators to create a regulatory sandbox for relevant blockchain applications.  

An economic roadmap released by the government of Turkey in July 2019, outlined the plan for a central bank-issued digital currency.   

Image via Shutterstock