Can Turkey become a global blockchain hub?
For Turkey’s nascent blockchain ecosystem to thrive, it will need regulations that do not stifle innovation alongside public-private sector cooperation to secure the country’s digital future.
“Disruptive.” “Transformational.” “Revolutionary.” These are some of the terms often used to describe blockchain and distributed ledger technology (DLT) in recent years.
Since its conceptualization in 2008, blockchain first gained widespread recognition as the infrastructural backbone underlying cryptocurrencies like Bitcoin.
But the use-case for blockchain is now being implemented in various industries, from education and finance to digital governance and agriculture.
“Blockchain technology has the power to make radical changes to public and individual life, and above all, the business world,” Ahmet Usta, chief editor of the Blockchain Turkey Platform and author of Blockchain 101, told TRT World.
“Harnessing this power involves much more than using this innovative technology as a tool, it requires a fundamental change in the way we think about and define work processes.”
Still in its early stages, Turkey’s burgeoning blockchain ecosystem is at the forefront of educating and promoting the technology’s revolutionary potential to the public and private sectors, in preparation for what is being called “Web 3.0”.