After Venezuela's "Petro", Let's Get Ready For Turkey "Turkcoin"
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!
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.
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...
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.
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.
wow seems like now every country will come up with such a idea haha great for cryptocurrencies by the way :D
And now the rest will follow , I always see crypto as a pattern
haha this is great now i am wondering what will trump launch ;)
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.
Indeed they try to defend their economy control without understanding anything at all...
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.