Turkey Wants to Create a National Blockchain Infrastructure

Wilfred Michael 

Wilfred Michael

News reporter

18 September 2019,
22:03
Turkey Wants to Create a National Blockchain Infrastructure

Turkey has plans to become one of the world’s first country to use blockchain for public administrative services according to a new road map unveiled today by the country’s Ministry of Industry and Technology

Dubbed Strateji 2023, the Turkish IT Ministry proposed, among other things that the state begins exploring possible use cases for blockchain and distributed ledger technology (DLT) within the next four years.

The document rightly defined blockchain as a technology “which became popular with virtual currencies like Bitcoin” and “delivers a distributed communication infrastructure to provide trust between parties on transactions without the need for a central authority.”

It also noted that one of the reasons why Turkey is prioritizing blockchain technology deployment for public administration is because of a recent survey by Startup Genome which labeled blockchain as one of the fastest-growing tech trends, with a 101.5% increase in early-stage startup funding globally.

To that end, the IT Ministry proposed a strategy that will include the launch of a new open-source platform that will serve as a testing ground for possible blockchain use cases such as, land registry, customs, academic certificates and so on.

Another vital strategy outlined in the document is the creation of a national regulatory sandbox for blockchain applications, prepared by the IT Ministry in collaboration with the relevant regulatory bodies in the country.

For the interim, Turkey is not the only country that has plans to prioritize the deployment of blockchain-based solutions to improve its economy and public administration.

Stmarket.co reported earlier that Germany released a national blockchain policy, which among other things favored the use of blockchain as a tool to tokenize digital securities and provide more investment capital to the country.

 

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