Turkey plans to launch National Blockchain Infrastructure

The Turkish government has announced plans to establish a national blockchain infrastructure to utilize distributed ledger technology (DLT).

September 19, 2019, | AtoZ Markets – Yesterday, the Turkish government released a digital strategy plan for 2023, outlining how the country will develop its technological capabilities. The plan shows that Turkey is planning for a National Blockchain Infrastructure among cloud computing, Internet of Things (IoT), and open source initiatives.

The government will build this infrastructure to encourage innovation and implement blockchain in the public sector. The initiative includes a testing environment for pilots and a regulatory sandbox to allow projects to grow.

Turkey Digital Strategy 2023 

Turkey’s official document points out the success of South Korea’s use of blockchain in naval defense, livestock traceability, and customs. Likely inspired by the nation, Turkey aims to develop public-centered applications in land registry and education with an open-source platform.

Read more: Turkey eyes central bank cryptocurrency in its new development plan

It will also support enterprise projects: “The use of blockchain technology in enterprise financing has become remarkable,” the report reads. The planned test environment will be available to a “set of participants” yet to be established. However, Turkey suggests multiple pilot applications such as supply chain, banking, and legal follow-ups.

Moreover, the regulatory compliance of enterprise initiatives could further be tested in the government’s sandbox. Indeed, the blockchain initiatives find application areas in regulated sectors, so Turkey does not want to hinder their progress. This way, businesses can earn certification for blockchain projects in an open environment.

Turkey is giving importance to blockchain technology

It also noted that one of the reasons why Turkey is prioritizing blockchain technology deployment for public administration is because of a recent survey which labeled blockchain as one of the fastest-growing tech trends, with a 101.5% increase in early-stage startup funding globally.

Turkey’s strategy came out on the same day as Germany’s extensive plans for blockchain regulation and use in government. While Turkey has a section on the technology among other digital initiatives, the German document is entirely dedicated to blockchain.

Last week, Turkish bank Takasbank announced a blockchain trading platform for gold. Turkcell, the country’s largest mobile provider, launched its blockchain-based identity management service earlier this year.

Share Your Opinion, Write a Comment