Nihat Zeybekçi: It is not right to produce domestic crypto money

Minister of Economy Nihat Zeybekçi made evaluations to AA regarding Blockchain technology, cryptocurrencies and Turkey’s plans in these areas.

Bitcoin has no foundation, no institution, organization or government is behind it Zeybekçi, who reiterated that he had no interlocutor as an interlocutor, once again described Bitcoin as a “Global Ponzi scheme” and said:

“It was around $20,000 when we said that, then it moved down strongly reached the level of 8 thousand dollars. Why is there such a thing? The world needs a reserve currency. Whatever the reason, there is a search for a strong common reserve currency apart from the current reserve currencies in the world.. And this is something that this quest has produced.”

‘It is not right to produce domestic crypto money’

I want Turkey to produce its own crypto money and every country to do something like this. Zeybekçi stated that his attempt was not correct and continued as follows:

“We can say that the existence of cryptocurrencies is a value produced by these chains related to information storage, information storage and information security.. As a result, is it necessary to produce value, produce money, or produce value? Based on this logic, is it necessary to produce such a thing using these technologies? I think no. Processing information, storing information, storing information, information security is a separate function.. What will be built on it is not a currency or a unit of value.. In this sense, it is not right for Turkey to produce its own crypto money and for every country to engage in such a thing, I do not find it healthy for now.”