New Turkish Economic Roadmap Points to National Cryptocurrency

Turkey is reportedly planning to develop a national cryptocurrency.

According to the 11th Development Plan, an economic road map released by the Turkish government this week, a central bank digital currency (CBDC) is among several blockchain-related items Turkey has penciled in for the future.

Details regarding the proposed national cryptocurrency remain scarce, but the idea itself has been kicked around since “Turkcoin” was pitched in early 2018 by Ahmet Kenan Tanrikulu, the deputy chair of Turkey’s Nationalist Movement Party and the country’s former Industry Minister.

The plan also noted that the Turkish government wants to utilize blockchain technology for transport and customs purposes. Blockchain, artificial intelligence, and the Internet of Things are also mentioned as practical approaches for improving public services.

Regional reports state that the plan was submitted on July 8 and covers the period from 2019 until 2023, so it’s not inconceivable to believe that more concrete proposals regarding the country’s planned national cryptocurrency will come out within that time frame.

Turkey was recently identified in the 2019 edition of the Statista Global Consumer Survey as the country with the highest percentage of crypto users in its population.