Turkey’ government plans to jump in Metaverse and crypto


The government of Turkey officially planned to do research and development work in the Metaverse and Crypto use cases. 

The last six months were not better for the economy of Turkey and it can be seen through the value comparison of the Turkish lira with the US dollar where it faced a more than 40% plunge in less than 5 months. But the president of Turkey is trying his best to add the economy of the country with other countries. 

According to a report of Daily Sabah, this week Turkish President Recep Tayyip Erdoğan held a meeting with the officials of the ruling Ak Party. 

In the meeting, the President urged the government officials to work on the research and development in the Metaverse-based projects and use cases of cryptocurrencies in trade. 

Earlier this, on 25 January, some government officials held a meeting on Metaverse & crypto and discussed the matter of crypto regulation and Metaverse use case with social media platforms. 

Recently few reports claimed that Metaverse is getting more traction in Turkey. People are getting more engaged in the Metaverse-based virtual land. The majority of the lands in the virtual world are near the historic former capital of Istanbul. The majority of the virtual land buys are related to game gaming-based Metaverse-based platform idea. 

Turkish President meeting with El Salvador 

Last week, the Turkish President had a meeting with El Salvador president Nayib Bukele. Reportedly, the main initiative of the meeting was to bring the economy of both countries together to bring more trade in the goods and services between these two countries. Reports also noted that both of these two countries will use the technology and resources of each other. 

After this meeting, many experts considered that Turkey may follow the footsteps of El Salvador. The meeting was between two presidents, where one president needed financial infrastructure support and the second president is more confident with his Bitcoin adoption as a currency, so maybe Turkish President may decide to include Bitcoin in payment options in Turkey. 

Read also: Banks Of America’ Strategist Believes Stabelcoins Adoption Will Surge Because US Fed Res Delay On CBDC

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