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Turkey Launches Nations Own DLT University Facility

Turkey has just launched its first-ever university-grade blockchain facility as a means of uniting any blockchain experts together and guarantee a broader adoption of the tech as per news reports. The Istanbul Blockchain and Innovation Center (BISTC) saw its introduction at Bahçeşehir and as the director, Bora Erdamar has stated that the new center will spearhead facility in terms of blockchain research, studies and development within the country.

Humanitarian Transformation

According to the director, the country may possibly become the spearhead in terms of blockchain tech and will revolutionize life itself for every human on the planet. Highlighting the importance of collaborating with additional academic institutions, companies and governmental authorities, the center aims to launch adequate research into blockchain-tech and explore any use cases that may present themselves.

Several universities globally have already adopted the technology and have launched educational courses on the blockchain and related innovations like digital contracts and cryptocurrencies. In 2018, Stanford launched the CoBR under partial backing by Ethereum's foundation. Additionally, Fundação Getúlio Vargas, a leading university in Brazil has also launched the first and only Master’s course in cryptocurrency finance. In terms of educational investment, Ripple has also contributed and donated around $50M to 17 educational institutions globally expand knowledge and education into crypto-block tech.

Director of the new research center in Turkey has reiterated on the fact that the country is adopting digital technology and evolving accordingly while heavily investing efforts to continue the current rate of advancement and keep up with everyone else in terms of digitization. Additionally, Turkish officials have remained neutral so far towards the cryptocurrency industry.

In November of 2017, the Turkish government cracked down on Bitcoin following a decision by the state that the currency does not comply with Islamic law. In 2018, DC of Turkey's NMP suggested regulations to be introduced into the market and even a possible domestic cryptocurrency named TurkCoin.

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