Central Bank of Turkey may issue its own cryptocurrency

The Turkish authorities presented a plan for the development of the country’s economy, in which much attention is paid to new technologies and the blockchain. According to the document, the Central Bank of Turkey can issue its own cryptocurrency.

The document entitled “11th Development Plan” was submitted to the Turkish Parliament on July 8. He describes the program of development of the country’s economy in the period from 2019 to 2023. An important point of this program is the “digital currency of the central bank created on the basis of the blockchain”.

The document emphasizes that the state should prepare the legal and technological infrastructure for the use of the blockchain in “transport and customs”. Blockchain is planned to be introduced in other areas of the economy, along with artificial intelligence and the Internet of Things (IoT), as well as in the sphere of public services.

The economic development plan includes a few more items that are not directly related to cryptocurrencies, but affecting companies operating in this field. For example, the creation of the “Regulatory Experimental Zone”, the “Istanbul Finance and Technology Base”, and the “Association of Payment Services and Electronic Money Organizations”.

Note that over the past year, Turkey faced a large-scale economic crisis. At the end of last year, it was reported that the popularity of Bitcoin in the country is constantly increasing, as citizens are trying to save their money in conditions of devaluation of the national currency.