Last week Best Coin Investments attended one of the largest Blockchain events in Turkey – Blockchain Turkey Summit 2018. It was a well-organized event with somewhat around 1200 attendees with some of them being government representatives, politicians, authorities and, mostly, people in the tech and business field. The summit mainly consisted of talks about Blockchain development within the country and how it might affect the future. Also, representatives from the Turkish government did a few presentations on the governments take on cryptocurrencies and blockchain in general.
Turkey is positive about cryptocurrencies
The primary outcome of the summit is that Turkey is very open to developing cryptocurrencies and blockchain technologies in the future. Tensel Kaya, CEO of Mindstone, pointed out that they would need stablecoins or stable currencies for doing better business with cryptocurrencies.
Furthermore, the summit also gathered many tech enthusiasts to take part in the IoT and Blockchain workshops. They tested out software with Markov chain with Monte Carlo simulations on the blockchain. The physicists from the Manhattan project invented the Monte Carlo method, and it is all about generating data for variables to simulate systems. However, A Markov chain is a stochastic model describing a sequence of possible events in which the probability of each event depends only on the state attained in the previous event.
Moreover, the summit consisted of talks about decentralized systems and how they could overcome the traditional centralized systems we know. Robert Wiecko, the COO of Dash Group Inc. and Jan-H Meyer, the CEO of Dash Embassy D-A-CH UG, presented their instant payment platform and gave a few convincing arguments why DashPay is faster and cheaper than any other cryptocurrency.
The conclusion after this summit is that Turkey is still a newcomer to the crypto-space, but they are very determined to jump into the scene and start developing their cryptocurrency market and to evolve blockchain technology as a whole in their country. They are willing to support new companies that operate in the blockchain area, but significant works still need to be done.
Photo by Best Coin Investments