Turkey to bring its own digital currency!!

[Iriswolfgang 200]

On 11/7/2019 at 10:04 PM, Ajlovez7 said:

Recently chinese Government announced about its plans for their own digital currency. Now race has started between countries for digital currency of countries. another country turkey may enter the race by creating national own digital currency name as Lira. what u guys think more countries will enter the race or not ?

Turkey is a large country and I think that having cryptocurrencies will be a great help to their country and I think that it will be better for the people in Turkey because they will have a way that they can earn more money with cryptocurrencies 

[Tine0313 3053]

Well if the country is seeing the good benefit of Cryptocurrency it has possibly enter the race in making or adopting the Cryptocurrency. I think more government are now giving an eye about crypto, we should wait for it.

[TimopheyKa 3900]

Of course, I think this will become a successful trend in 2021! Which will entail a demand for this system, of course, in countries where this very cryptocurrency is allowed!

[SOLCITO 28]

Over time, the number of countries that will want to make their own crypto-currency will increase, as I have commented on other opportunities, we must lean towards development and progress, crypto-currencies are a revolution in the way we make transactions and also in investment opportunities. I bet that all countries can join this initiative.

[Lilianeth 26]

Crypts have definitely revolutionized the way assets are handled in the world.
This has driven the development of new national digital currencies.
China is acting as a pioneer in introducing digital national currencies with the Digital Yuan. 
Other active projects are EUROChain which is the name of the digital currency advanced by the European Union and FEDCoin which is the name of the digital currency that the United States Federal Reserve would be willing to issue.

[Alimhana930 1605]

In general, these crypto-tokens that are based on their own blockchain and are backed by the government far from the decentralized crypto market Therefore, this race I see to facilitate financial transactions within a single country and reduce the cost of producing and printing fiat currencies, no more.

[yonkii 3205]

Probably this can help poor Turkey that lately is seeing the Lira collapse and suffering the condequences of government bad management. This is the result of years of Central Bank print of fiat currency above what the economy can handle and high inflation or devaluation of the currency always makes the population suffer. It is obvious that Turkey is mixing geopolitics into the equation and is also in hostile operations in many countries as in Iraq against the Kurd population, in Syria occupying land of another country, in Armenia lately and in Lybia. Doing all of that of course will damage the economy as the government was printing to cover for the expenses of the aggressive operations of this country. People that are becoming poor should instead buy Bitcoin to reduce all this negativity inside the economy and not wait for another government backed currency to save them.

[annayks 2314]

I don't enjoy any news about governments trying to make something that will be a digital currency, since they already have digitized the national currency and banks are not running on paper cash but in digits in their servers. It will be no different creating another version of their failed fiat experiment. The solution is there and it is Bitcoin, either they adopt it and solve most of their problems or delay the inevitable collapse of the fiat currency.

[khan22 3478]

Turkey is a good country but i think this may not be possible that they make their own currency becasue still no one country could do that and if they legal the crypto in their country they allow the BTC, ETH, LTC coins becasue these are good and best coins.

[Hussain musaddaq 348]

It is an important news and good initiative by turkey government.we should also introduce our digital crruncy which has great impact in our future . every country should follow the turkey government.

[percare 3192]

They can make digital currencies but they will be still inflating and still will be worth less with each print ordered by the centralized governments. Perhaps people will find the competitor and already established currency of Bitcoin to be better and invest their government digital currencies to it.

[VijithaVarghese 1994]

I think this is a really helpful and informative post. Thank you my friend. I think this would create a turning point for the world cryptocurrency market. The underlying potential would be soon exposed to the world who still doesn't believe.

[Masterrex 559]

On 11/7/2019 at 10:04 PM, Ajlovez7 said:

Recently chinese Government announced about its plans for their own digital currency. Now race has started between countries for digital currency of countries. another country turkey may enter the race by creating national own digital currency name as Lira. what u guys think more countries will enter the race or not ?

It seems that CBDC sponsored digital fiat currencies will become  a new normal in the years to come, but the question is how it will benefit the crypto industry? IMO, I think there's no benefit except for advertising the use of blockchain technology for a centralized CBDC sponsored digital currencies. since Turkey has announced it I believe more and more countries will follow the trend of the CBDC development.

Edited November 17, 2020 by Masterrex

[bogdanoff 3173]

Turkey has many problems that need fixing and a digital currency can't help if it is just the same as the fiat currency they can print without an end. There is need for other methods. If I was in Turkey I would buy Bitcoin with all the fiat I got.

[cryptovlek 2597]

Turkey is on the verge of financial collapse and is aggressive against the neighbours because of a failed government. If it keeps like that it will be bigger problems than the currency that is destroyed. The good people of Turkey that don't have a lot of choice as there is no democracy but arrests of political oppoentns, can find a few solutions using Bitcoin.

[Sykkuno 2887]

Turkey reminds me of Argentina and at least the more intelligent Turkish people are already in Bitcoin and not even considering to sell for the Turkish lira that is going lower for a few years. It is a good store of value and easy to access for them so many people got interested in crypto in Turkey.

[P A Ashif 2409]

There are so many countries like China, Korea and now Turkey who is planning to launch there own crypto. I think this is the best thing happening to crypto. And I must want my country to launch one. This is good for because just imagine if a country launches its crypto then it will become world wide famous and reach of crypto will increased. 

 

Edited November 17, 2020 by P A Ashif

[estmerbol 257]

Cryptos came to stay, it is incredible the adaptation that countries are doing to adopt blockchain technology. Venezuela has the Petro, China is headed towards the digital yuan and I think many more are on the list of wanting to ride the crypto ship. They are certainly giant steps towards the massive use of cryptocurrencies

[Mouhadheb 196]

Interest is increasing significantly in digital currencies, and even Lebanon talked about developing its currency, and it will be listed in 2021, according to their words.

[Fixfin 2569]

Turkey can be helped by an organized digital currency. I am not against cbdc efforts like China is doing and I think that I would love to get my hands in a digital currency wallet that would be for yuan or for turkish digital currency and maybe there will be multi wallets for many of these national digital currencies.

[decemberends 1881]

Actually it really depends on what government itself is trying to plan whether there are some changes and what could possibly happen and im sure i wouldn't be so suprised if there are some will disagree to do this as they had different things to do.

[entrepreneur 634]

I hope that other countries will enter the race because it will be very helpful to see countries share their own crypto and race for the #1 spot

 

[Relium 424]

most of the countries and this countries local banks are creating their own currency at the moment. china started a big thing with digital yuan and other countries will follow that move.

[wassim19 645]

The competition between countries in the field of digital currencies has now become, as each country seeks to create its own digital currency in order to compete in the technological development that is taking place and keep pace with the future and it is important that China and Turkey now want to issue these financial digital currencies

[zhoutong 2188]

Turkish lira is doing awful lately. What would a digital currency that will replace the lira could change? There is a lot of corruption so maybe it will help Turkey to reduce this. But if the corruption is all the way up to the head of state as I am reading then it will probably not.