- The Turkish city of Konya recently announced plans to create its own blockchain hub, the Science and Technology Valley.
- The goal is to create a cryptocurrency called City Coin, and develop a financial ecosystem around it.
- As part of the project, the city would start using blockchain for municipal services.
The Turkish city of Konya is not the most famous place when it comes to technology, and especially not when it comes to emerging technologies — yet. The city, best known for being the country’s major cultural center, offers rich history, as well as a lot to see. However, it also decided to create its own Science and Technology Valley, under the guidance of the Konya Science Center.
Its focus seems to be on blockchain technology, and how it can be applied to municipal services. The plans were originally revealed on January 16th, by Konya Metropolitan Mayor Uğur İbrahim Altay. The mayor decided to propose the idea during a smart city congress in Ankara. The project would also create a City Coin, as well as an entire financial ecosystem around it.
The project is also specially focused on social programs, according to details shared by Dr. Ali Osman Çıbıkdiken, who acts as the head of the Konya Science and Technology Valley. Its goal is to allow local governments to manage the reserve fund for social aid by using blockchain technology.
It is unknown when the project might reach completion, although the team aims to come up with a prototype in the next six months. If this happens, the project could go live in about a year.
Turkey advances blockchain development
Konya is a pretty large city, with a population that exceeds 2.4 million. This is more than enough to test how blockchain in public service might perform. Further, the city is also quite advanced in terms of smart city applications.
A report published by the city’s Chamber of Commerce reveals that there are over 10 smart city projects currently underway, including a payment system that uses contactless credit cards for public transport, as well as apps for e-municipality functions.
Konya is also not an isolated case, as the entire country accelerated its efforts regarding the development and use of blockchain infrastructure. It has plans to develop Digital Lira by the end of 2020, and it already saw the launch of the BiGa Digital Gold platform, by Turkish Taskbank, among other projects.