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One City in Turkey Embraces Cryptocurrency and Blockchain

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KONYA, Turkey – Konya may not be distinguished when it comes to technology, yet this city in Turkey is now known for embracing blockchain and cryptocurrencies.

Konya is a well-known city in Turkey as it’s where the world’s most famous poet, Rumi, came. Erhan Kahraman wrote in Cointelegraph that it’s also renowned because of its rich history, from historical places to mosques. Also, this city’s technology may not be their edge, yet it’s known now because it’s open to digital assets and blockchain.

Nothing stopped the Anatolian city from establishing its “Science and Technology Valley,” which is under the Konya Science Center. Also, it didn’t stop this city is putting up a team to add blockchain to community services.

Ugur Ibrahim Altay, the metropolitan mayor of Konya, revealed the news throughout the local smart city conference on January 16 in Ankara. It’s searching for ways to improve a “City Coin” and make a blockchain-based funding ecosystem surrounding it.

Cointelegraph talked to Dr. Ali Osman Cibikdiken, the Konya Science and Technology Valley head, about the development of the “City Coin” scheme. Cibikdiken, who acts as well as an adviser to many blockchain schemes like TrueFeedbBack, stated that the primary thing that their squad of seven blockchain inventors did was to find for ways to utilize blockchain technology for financing social agendas.

The project will let the local government, as well as other shareholders, to manage the additional fund for social assistance on the blockchain. The city targets to introduce a prototype within six months, which will go-live in a year. Furthermore, the city hopes to be an international model for local authorities with the City Coin scheme.

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As per Cibikdiken, the digital asset that they are presently improving will be utilized in social aid agendas, activities of the municipal corporation, environmental services, and public transport. Furthermore, the blockchain-based local system will assist citizens of Konya. Also, the project will witness the improvement of a payment network to let cryptocurrency in several services.

After the declaration of the national blockchain structure, Turkey has boosted its efforts for blockchain. The country planned for a virtual lira by this year. As for the Turkish Takasbank, it introduced the BiGa Digital Gold stage to provide a blockchain-based gold remittance system for the banking field.

International cryptocurrency exchanges are observing the optimistic improvements in Turkey, wherein it has local offices. Huobi may be the first, yet it joined the Blockchain Turkey Platform to conjoin with the local system on blockchain improvement efforts.

In the previous data, it’s indicated that the population of Turkey became more cryptocurrency-friend because of the 2018 currency predicament that witnessed the Turkish lira drop in value over a dollar.

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