Turkey wishes to create its digital currency

A few days ago, Turkey had adopted a behavior is particularly severe with respect to crypto-currencies. But the country has changed his mind and announced he wanted to launch his own crypto-currency, which will be called the TurkCoin. Which is rather surprising.

A surprising announce-ment

Recently, the religious authorities in turks had believed that the Bitcoin was incompatible with the laws of Islam. But now, today, the action Party and nationalist MHP, and the Party of justice and development, AKP, want to support the creation of a crypto-currency.

Pixabay – basker-dandaphani / Turkey wants to participate in the adventure of the crypto-currency by launching a digital currency with a national one.

In fact, a bill has just been issued for the purpose of creating the TurkCoin. The vice-chairman of the MHP, and Ahmet Kenan Tanrikulu, stated : “The world is moving towards a new digital system. Turkey should create its own currency systems to digital before it is too late. We need to create an infrastructure for the database BlockChain. Today, there are nearly 1 400 digital currencies in the world, and many countries use them. We need to, we also, create a digital currency, based on the companies that are part of our sovereign wealth fund. “

A limited management of the digital currency

The TurkCoin should therefore in theory be backed by the sovereign wealth fund Turkish. This mechanism is normally supposed to allow investors to take fewer risks with crypto-currencies mainstream. This would be a way to better regulate the use of crypto-currencies in Turkey. In reality, the managers of this bill want to regulate the digital currencies without the ban.

Pixabay – The Digital Artist / Turkey wants to launch the TurkCoin, and thereby protect investors.

Turkey therefore takes the same path as Venezuela, which recently launched the Petro, a currency based on the oil reserves of the country. Yet very controversial, this currency digital seems to have given ideas to other States.

Source : CryptoVest