Turkey intends to launch a unique digital currency

Turkey intends to launch a unique digital currency

Turkey is interested in Block Qin's digital currency technology and plans to do a unique job in this area, Turkish Deputy Prime Minister Mehmet Shimshak said late on Tuesday.

Goldman Sachs, the investment and banking giant in the United States, defines Block Qin as a technology developed as part of the digital currency to act as a transaction log - record all financial transactions or goods and provide information - that is, Traditional.

In a statement to local television, Shimshak said a working group had been set up to analyze the Qin Block and digital currency. However, he also pointed out that digital currencies were still illegal in Turkey at the present time. However, Block Qin is a technology that increases productivity and accelerates digitization .

He added that the general financial and banking systems in Turkey were strong and resistant to potential shocks and that the country would undertake several reforms to protect it from such shocks in the next six months.

Turkey's annual net profit for the Turkish banking sector reached 49.1 billion Turkish lira ($ 13 billion) in 2017, posting record profits according to the BDDK last week.

The index of economic confidence in Turkey, based on monthly comparison in January by 10 percent, according to the Turkish Statistical Institute "Turkstat" last week also.

"Turkey's total debt, including domestic, state, corporate and financial sectors, is up to national income," he said. Percent, which is 320 percent higher than in the world. "

He pointed out that Turkey aims to reduce the rate of inflation to the number one in the short term until the end of the year, and the rate of 5 percent in the medium term, and keep it within 1-3 percent in the long term.

The country's annual inflation rate was 10.35 percent in January, according to data released by the Turkish Statistical Institute (Turkstat).

In another economic context, Shimshk said that a summit will be held at the end of March between Turkey and the EU after a long break. "Talks with the EU have positively affected Turkey's recent performance, Level with the European Union last December, and that Turkey does not want to leave the European Union. "

He explained that the most realistic subject with the European Union in the economic aspect is to expand the content of the Customs Union.