While the blockchain ecosystem is developing rapidly in Turkey, the process of keeping up is accelerating with events such as Crypto Fest 2022.
With digitalization, everything from gaming to habits, from finance to the world economy is being reshaped. One of the most important pillars of this digitalization is the blockchain ecosystem. Countries are making future plans for blockchain, which has a very deep structure. On the other hand, events are organized in order to understand what this technology is. The latest development in this field in Turkey is where important names take the stage. Crypto Fest 2022happened with.
As the Coinkolik team, we share with you our compilations about the crypto ecosystem and economy from the Crypto Fest 2022 event held at Zorlu PSM on August 20-21.
Turkey’s Path in Digital Money with Emin Capa
Digital currencies are on the agenda of many countries and new regulations are emerging every day. Economist-journalist Emin Çapa started the Crypto Fest 2022 event to explain Turkey’s digital currency relationship.
Stating that the future has never changed so quickly and that everything will be tokenized, Emin Çapa explained Turkey’s relationship as follows:
“The biggest problem of science is big data, unfortunately Turkey is turning its back on science. Those who see these places as mulberry and do not enter and cannot adapt to the digital world will lose.”
Global Economy Comment by Shant Manukyan
Global strategist Shant Manukyan, Dr. Bora Erdamar and Icrypex CEO Gökalp İçer talked about the international markets and the impact of the crypto economy on the traditional economy on the first day of the event.
Stating that the opportunities of crypto assets are high Erdamar He said that cryptocurrencies are the way they are programmed, there is no bottom or top and there is no limit to their potential. He continued by stating that crypto money cannot be reduced to a single category and countries cannot impose sanctions on this issue.
giving his opinion on the same subject Shunt Manukyan if; He said that CBDC opens the door to a controllable world, and that it will bring many unanswered questions. Sharing his comments on the global market, Manukyan said that the Fed’s year-end inflation expectations are around 8.5 and the aggressiveness of Fed regulations is expected to soften. But that is not true, he said.
Tuncay Yıldıran – Legal Aspect of NFTs
Icrypex board member Tuncay Yıldıran’s speech on the second day was on NFTs and legal ownership in Metaverse. Yıldıran is an experienced name who has worked in the field of regulations throughout his career.
In his speech, NFT stated that the regulation of blockchain technology in legal property rights and regulations is not on the agenda, and that the technology will not be regulated. Stating that the regulations should come, Yıldıran stated that the transactions in these institutions, which act as the custodian of the future of the regulations to the crypto money trading platforms, will be connected to a legal principle.
Intimidating:
“Regulation of blockchain is not on the agenda. Regulations will come to the extent that transactions made on crypto money platforms will be based on a principle.”
In addition, Yıldıran said in his speech that he thinks NFT and Smart Contracts should not be included in IT law or property rights.
Mesut Çevik and Ahmet Usta: How Should Brands Use Metaverse?
ELYT founding partners Mesut Çevik and Ahmet Usta made a speech about how brands should use Metaverse.
ELYT is a platform that offers rewards as NFT in exchange for your loyalty to influencers and brands. Agile and Usta think that big brands do not fully understand Metaverse and in this context, they spend tens of dollars and create projects that do not provide any benefit to their users. Believing that wrong steps have been taken in the race to be the first in a new field, the duo define their platform to serve in this field as the “modern interpretation of Metaverse”.
NFT Renaissance and Metaverse Reform by Murat Muratoğlu
One of Turkey’s leading economists, Murat Muratoğlu, in his speech titled NFT Rönesans, Metaverse Reform, revealed this period, which the world is trying to keep up with, from an economist’s point of view.
Muratoğlu gave a place in his speech that people live their physical lives less with new technologies. As an example of this situation, he said that children now attend virtual concerts in Fortnite instead of going to sports schools. Thinking that Metaverse is not ready yet, Muratoğlu also mentioned that I am at the very beginning of everything and nothing is completely clear in his speech.
Muratoglu:
“The metaverse isn’t ready yet, and nothing is clear on the matter. We do not know what awaits this new universe, which we are currently entering through VR glasses. Although companies continue to work to develop Metaverse, nothing has been missed.”
Thinking that Metaverse will also benefit companies, Muratoğlu also mentioned that NFTs are still used as a community building tool, but that their share in our lives will increase and will be used as proofs of belonging in the future.
Cagdas Akgun – Efe Nail Saltik
