“Turkey plays a major role in the cryptocurrency and blockchain fields, all of which gives it a really good opportunity to develop leading financial technologies in the country.”

This was the statement made by Mr. Changpeng Zhao, CEO of the largest trading platform, to Anadolu Agency.

In the annual presidential program released this month, Turkey announced that it will launch a blockchain-based digital currency.

Tests are expected to start in 2020.

The country also aims to develop a roadmap for the development of the digital economy system “Fintech” and the creation of a financial technology brand in Istanbul.

CZ touched on the cryptocurrency sector, stressing that the sector will become larger and each government will issue its own currency.

Read:What are the reasons for the downturn in the cryptocurrency market in 2018?

He added that many governments are already working to support blockchain-based cryptocurrencies.

and what stated to me:

I think China is a very special case, they want to further develop blockchain and develop technology, but they are not interested in promoting cryptocurrency.

The same speaker added:

China will embrace the blockchain, as will all other governments.

People don’t understand blockchain yet, nor do they trust cryptocurrencies because they don’t understand blockchain technology.

We rest assured that you do not have to trust anyone else, as in the blockchain network the network is powered by mathematics, and by software.

I think people haven’t changed their minds yet.

They don’t understand blockchain technology well, but very soon, I think they will.

CZ also stated that fiat currencies and securities will disappear and be replaced by digital currencies.

He confirmed this by saying:

If you look at China, there is no money to print, it’s all digital money, not blockchain-based digital, but it’s all digital.

All fiat notes will be converted into blockchain-based digital currencies in the future.

Read:Coinbase announces suspension of XRP trading starting next month

The issuance of many digital tokens by central banks is good for the cryptocurrency industry.

He pointed out that all digital currencies will spread in the world like mobile phones and computers that the whole world was not expected to use in the beginning.

Referring to the “Libra” currency from Facebook, he said:

If Libra manages to get a large number of users, we’d be happy to support it, but we don’t know until it goes public.

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Turkey is preparing to test its digital currency (lira) next year