Turkey’s Bitcoin-hating president Recep Tayyip Erdoğan has instructed his party to research blockchain stuff, with a particular focus on the so-called metaverse, reports Crypto Briefing.
Erdoğan recently told officials from his Justice and Development Party (AK Parti) that blockchain is “a delicate matter and should be looked at thoroughly.”
He also wants the lowdown on crypto and social media, with findings discussed in an online forum that he’d attend.
This is quite the turnaround from a man who, just last year, declared “we are in a war against Bitcoin” and banned merchants from accepting crypto as payment.
Erdoğan launched a campaign late last year to encourage buying into Turkey’s floundering lira to avoid a death spiral.
But Turkey’s government has already held its first meeting in
cyberspace the metaverse.
Earlier this month, information and communication technology lead Ömer İleri led a virtual get-together during which he said through his crudely-animated avatar (quote via Crypto Briefing):
“As blockchain technology has enabled digital ownership, Turkey has accelerated its metaverse efforts. The metaverse is open to development in virtual reality, product management and innovative business models.”
Metaverse? Turkey turns to Tether to escape plunging lira
İleri isn’t wrong. Despite the country’s “at war” status with Bitcoin, crypto and metaverse concepts have gained traction across Turkey.
Much of this has been attributed to the Turkey’s rapidly devaluing currency. In the past year, Turkey’s inflation rate has soared to more than 30%. The lira has in turn lost 40% since last September.
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