In an interview to the local magazine Al-Monitor, the former Industry Minister of Turkey, Ahmet Kenan Tanrikulu, proposed yesterday a state-owned crypto currency called "Turkcoin".
The token will be backed by real assets, like the ones of Turkish Airlines, Istanbul Stock Exchange or Turk Telekom. It's not clear if he asked those enterprises first if they would agree, but that seems to be the norm in Turkey lately.
It's just a proposal so far, and we don't know how much support it has and how much of it is just a PR stunt after Venezuela "Petro" sold for an alleged $735 million this week.
It's interesting to see how governments all over the globe are starting to see the potential of the blockchain (the disruptive potential of it, that is), and how they are trying to protect obsolete structures by "painting" them in the colors of the blockchain.
One of the major advantages of a real cryptocurrency (being it Bitcoin or Ethereum or STEEM) is the fact that it's not owned by any government.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Turkey should call their crypto "Erdogancoin" or "Erdo-credits" LOOOL!
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If every country starts launching its own cryptocurrency, there will be no need of fiat currency and we will be living in the whole cashless society.
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We are not far away when every country start issuing it's own token/coin ... Things look really exciting...All countries who are facing high inflation will at some point shilft to Cryto-curriencies...
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Indeed exciting, but what's the point of that?
Cryptocoins should aim to be universal. E.g. 1 Steem for me means the price of a pack of cigarette (not that I smoke actually), but for a Venezuelan, it's worth 2-3 days of food.
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Initially I wanted to be extremely cynical but when you again highlighted the "disruptive nature", I realized it shouldn't be "joked away".
A piece of shit like Erdogan can make use of becoming more and more independent from the international economical processes.
What can I say...decentralization is leading to isolationism - Russia, Venezuela, Turkey, Hungary...wasn't exactly what I expected from the blockchain emergence.
Good to know Steem isn't bound to entities like these.
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wow seems like now every country will come up with such a idea haha great for cryptocurrencies by the way :D
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And now the rest will follow , I always see crypto as a pattern
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haha this is great now i am wondering what will trump launch ;)
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A state backed cryptocurrency is little better than fiat, and you can bet that they would "print" new coins at a furious pace if it suits their needs, just as they do with fiat.
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Indeed they try to defend their economy control without understanding anything at all...
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Banks can keep them from taking profits out of our pockets. I read this post today and was not shocked The Next Petro? Iranian Minister Reveals Cryptocurrency Plans. In the long run, is it so that we're going to have more XRP like coins to control BTC and other real coins? My answer is NO.
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I would call the Govt. controlled crypto's as pseudo-cryptos....
What good a crypto currency is if its backed and controlled by a people...
The whole idea of cryptocurrencies was put power in people's hands and here in case of these pseudo-cryptos is see no power being delegated to people....
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Thank You so much Sir for giving another super exciting sharing. I always waiting for your precious posts.Turkcoin for Turkey after Venezuela's Petro in this way the crypto will continue its expansion throughout the world @dragosroua
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Turkcoin? Are we gradually substituting fiat with crypto everywhere?
When a government begins to regulate cryptocurrency, they take charge of the whole system, making it another greedy centralized network.
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Marketing, buzzwords, hype train, you name it.
It's obvious that disgusting pus sags like Erdogan are into it, maybe he thinks he can save his already ruined image and reputation with something like this.
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your post always learning alot of new thing learning of my steemit work matter.. after Venezuela's "Petro", of Turkey "Turkcoin"this is a good way of potential of the blockchain.. thank u very much for your good thought of bitcoin..... @dragosroua
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That good new sir, now its turkey, crypto will lead the world one day, as now all the nations are accepting it that its something we should adopt
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I'm not convinced this is how it should happen.
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still waiting to see steem/sbd ATM installtions here in Ghana,that would be great..thanks for sharing this @dragosroua
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anlamadığım şu bu durum ekonomi açısından güzel etkiler fakat bizleri nasıl etkiler
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Last year, a laboratory was set up to conduct Blockchain and cryptocurrency research in Turkey. This lab is working on a new crypto money for the last 1 year. But this is just an experiment. Maybe this experiment could be real.
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I think it's will be great for the people in Turkey , the first countries which will use blockchain in smart way will get a lot of money to the counrty and to the people
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de turcia habar nu aveam stiam de venezuela. lasa ca e foarte bine , cat mai multe tari .
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Wasn't this what was expected, to make crypto currency main stream? And now I hear an uproar because it is happening, I think we should in fact be glad it is happening, it just means crypto is here for good.
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Just a question of time until we will see more and more countries that want to have their own crypto coin. Those are killing the idea of those coins which should not be related to any country or governments
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Not so sure. Although not own by Whales 🐳, Steem seems to be controlled by them and their behaviors. They don't control the Blockchain, but control most of the coins and the game, too. Money is Power.
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You're making a significant confusion: the economics of Steem are not controlled by whales, but by witnesses, which can be voted by other people. Witnesses decide on parameters like inflation, rewards pool model, etc. It's called on-chain governance. And it's decentralized and transparent. Whereas governments like Venezuela and Turkey, well, not so much.
The distribution of money via votes may be controlled by whales, as you say, but I see nothing wrong per se with this. The higher your stake, the bigger your rewards.
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This was expected from the start actually. They banned it because they found their businesses threatened by crypto currencies. Now they are creating new crypto currency to reap the benefit of their popularity.
This is just authoritarianism at its best. All they want is to keep masses enslaved to them and that's it.
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Great info. Let's hope they government initiate the move to actualize this proposal and eventually goes ahead to implement it. Soon many other governments of the world will concur.
Thanks for sharing the news on time.
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First Venezuela and now Turkey, I guess governments have finally started to realize the power of the block chain. I foresee many more doing the same. Thanks for the update :)
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Wow wow wow....from Venezuela now Turkey and I bet that this is how it's gonna continue to spread until crypto gets to every nook and cranny of the world ....Nice update man.
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This is another plus to the crypto currencies world first it was Venezuela and now Turkey. Crypto should continue its spread all over the world. The more government recognize it the more useful it becomes
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If Panama launches its coin, it would be named as Pana. Funny isn't it? :)
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And would be exceptionally ironic, considering its recent significance in boosting the agenda behind cryptocurrencies. (khm certain papert khm)
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More and more countries are introducing a national crypto. The best time ever in the history of crypto is here. Recently I heard about the Portuguese CryptoEscudo . Isn't that amazing?. My friend said that he does not like the idea of the government mining crypto. According to him, safe cryptos are not controlled by the government. And I asked him, "Should you be critisciing this positive move or should you rather be applauding governments of the world who have not only accepted crypto but have move a step further to mine their own in contrast to Asian countries who are fighting crypto tooth and nail?"
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I think it won't be long before there are some more state backed digital currencies.
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Turkcoin coin interesting news this is coming just after the few days of petro coin
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i wish every country come up with such ideas @dragosroua
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