Turkish president directs ruling govt. to research on metaverse

Turkish President Recep Tayyip Erdogan has instructed the country’s ruling government ‘AKP’ to conduct a comprehensive study on cryptocurrencies and metaverse, local media house Daily Sabah on January 26.

Officials from the ruling party met with president Erdogan earlier this week to discuss the new technology that will likely have a significant impact on the country’s future. During the meeting, Erdogan ordered the officials to establish a forum to study more about metaverse. The forum will also discuss cryptocurrencies and social media.

“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,” said AK Party Information and Communication Technologies President Omer Ileri during the meeting.

Metaverse has been gaining substantial popularity in the middle east country, with many Turkish investors pouring millions of dollars into purchasing virtual land on metaverse. As per some , over 11,000 virtual lands in Istanbul have been sold on a game-based metaverse platform.

President Erdogan also recently met with El Salvador president Nayib Bukele on January 20 last week. Although cryptocurrencies as means of payment are banned in the country, the recent meeting with president Bukele could change Erdogan’s harsh views on the asset class.

Bugun ulkemize gerceklestirilen bu tarihi ziyaret, insallah bolgeyle birlikte Turkiye – El Salvador iliskilerinde de yeni bir donum noktas? olacakt?r. pic.twitter.com/9mug7A1C3C

— Recep Tayyip Erdogan (@RTErdogan) January 20, 2022

The news also comes as Turkey battles one of the highest bouts of inflation seen in 19 years. Many Turkish investors have shifted their investments in cryptocurrencies, in an attempt to avoid the devaluation of their savings.

Turkish president directs ruling govt. to research on metaverse appeared first on Our Bitcoin News.