Turkey Government Plans To Leverage Blockchain Technology For Public Administration Efforts
Turkey recently announced that plans were underway for it to put up a national blockchain structure. The infrastructure to be set up by the government will use DLT (Distributed Ledger Technology) in the administration of public services.
On September 18th, 2019, in Ankara, the Turkish Ministry of Industry and Technology set out to lay down its vision for the technology sector as part of its 2023 Strategy Presentation.
The 2023 Strategy has placed a lot of emphasis on the use of Distributed Ledger Technologies and blockchain infrastructure. It is a strategy that seeks to prioritize the two by the start of 2020.
According to the Strategy 2023 document, a survey conducted by a Startup known as Genome identified blockchain as one of the leading tech trends in the world. The report noted that blockchain had recorded a 101.5 percent increase in global funding for early-stage startups.
Blockchain Regulatory Sandbox On Its Way
The document goes ahead to state that Turkey will establish a new open-source policy for this technology. It is an initiative that is aimed at analyzing different blockchain use cases, e.g., customs, academic certificates, and land registration to establish the potential application of the technology in various public sectors.
The Ministry of Industry and Technology which is tasked with the responsibility of making this a reality has also announced that there are plans to work with various regulators in Turkey. Working with these regulators will lead to the creation and launch of a regulatory sandbox to be used with all blockchain applications.
Turkish Authorities Reference Bitcoin
A recent Cointelegraph report noted that the Strategy 2023 document prepared by the Turkish government was the first document prepared at the ministry level to incorporate Bitcoin. The establishment had released an economic blueprint earlier this year that had referenced a digital asset issued by the central bank.
It did not, however, refer to any cryptocurrency including Bitcoin. The document has also gone ahead to provide a definition of the perceived blockchain technology as an infrastructure that assists new business models to help shape how the future will look like thanks to its many real-life use cases.