Host: Jolin

This article selects the views of the 3WW3 Space event of the Asia-Africa Institute, “The Crypto Market in Türkiye”, and summarizes theBlockchainNotes on activities.

Guests

Web3 Use Cases in Türkiye

Tommy Liang (stats):

–TürkiyecryptocurrencyThe number of users (in all CEX) trading per day reached 500,000 to 700,000 in December 2021. However, due to the arrival of the bear market, in February 2023, the number of users (in all CEX) trading per day reached 500,000 to 700,000.Xiaobai NavigationTurkey's entire networkcryptocurrencyThe number of trading users fell to a range of 270,000 to 410,000.

– Meanwhile, Turkey is not a managedwalletThe usage rate is relatively low. Turkish users are very dependent on CEX and have a relatively low understanding of Defi. In addition, Turkish users pay more attention to Bitcoin and Ethereum, like to use cryptocurrencies for legal currency hedging, and Turkish users like football and are very enthusiastic about fans.TokenThe enthusiasm is very high.

Ogawa (Policy):

– The Turkish government web3 The attitude of the Ministry of Digital and Technology of Turkey has not been clear, although in 2018, it mentioned in its strategy paper that it would establish a national blockchain infrastructure.BlockchainInfrastructure), but no major implementation has been seen.

– In 2021, the central bank issued a policy prohibiting Turkish citizens from purchasing or providing cryptocurrency-based services. However, the director of the Digital Transformation Office under the Turkish Presidential Office refuted the rumor, saying that “the policy issued by the central bank to ban crypto transactions at the time did not prohibit Turkish citizens from owning crypto assets.”

– In a recent speech, the candidate specifically mentioned that “Türkiye’s next unicorn will emerge from Web 3.” This may also reflect Türkiye’s appreciation for cryptocurrency policy.

ABMTF (local):

-When you get off the plane in Istanbul, you will see localexchangeThere are many cryptocurrency OTC exchange places, allowing a seamless connection between encryption and life.

– I used to take a taxi and the driver used it when he parked.exchangeDo some transactions, and OTC stores are all offline stores of a few square meters, which are very common.

shan (local):

-Many people in Turkey can discuss the recent prices of BTC and ETH with you. I will visit some relatives at my boyfriend's (Turkish) home, and all the grandparents can discuss with you: the rise and fall of ETH and BTC.

-When investing in real estate, most agents will ask you by default whether you want to use digital currency for transactions. Even when I recently went to book an offline venue for an event, the restaurant owner took the initiative to say: "You can transfer money, and we will receive it in digital currency."

– Many of the younger generation of friends will hang some decorations with the Bitcoin logo in their bedrooms, and many people will also talk about Bitcoin on TV shows.

Development of various tracks in Türkiye’s Web3

Shan:

– From the perspective of the fund and the projects I have been involved in,defiRelatively few, centralizedexchangeThis is also partly due to the gambler mentality. Gaming is currently the mainstream.

– Many gaming projects are done by people who have transformed from working on web2 games. Many people have transformed to work on Gamefi, Socialfi, and NFT projects.

– Developers are also transforming and may have some infrastructure projects, but their overall fundraising capabilities are much worse than those in the Asia-Pacific region because there are not many VCs in Turkey and the investmentweb3There are relatively fewer.

– Compared to last year, the user and developer communities have become more mature. I have a feeling that the application layer is no longer based on gamefi, socialfi This kind of project is the main one, and there will also be Cyber secThe emergence of urity, smart contract, and auditing. Recently, some people in politics and academia are also working on RWA projects.

Tommy Liang:

– Lens Protocol’s website visits are nearly 16% from Türkiye, which to some extent shows socialfi Or maybe the mentality of making money is popular in Turkey. Because Turkish users like to search for "free Bitcoin" on Google very much, they will look for websites that can get small amounts of Bitcoin for free by completing tasks.

– Shan added: From the perspective of retail investors, they prefer to buy some coins with long-term value rather than follow the trend and buy MEME coins. The only activity many people may participate in is airdrops.

Ogawa:

– In fact, we can pay attention to the Turkish government agency "Türkiye Science and Technology Council"BlockchainThe Institute’s views on the application of digital currency. They are more optimistic about DID and smartcontractPutting government data on the blockchain.

– We can also pay attention to the Digital Song activities of the Digital Transformation Office under the Turkish Presidential Office (similar to a hackathon), from which we can see which track the development of the government will support in terms of policy.

Things to note when attending a conference in Türkiye

Shan:

– I think there is no need to worry about the situation. The area where the event is held is verySafety, the protest activities will only affect traffic at most. Although Istanbul is an Islamic country, life is more like Europe and America. Parties, bars, and convenience stores are similar to Europe and America. There is no need for women to wear headscarves when entering and leaving certain places.

– However, when participating in discussions in the local community, you may want to be careful not to discuss scan projects or projects that use religion for hype.

ABMTF:

– Actually, there is no need to worry about this, because Istanbul is at the junction of Europe and Asia. There have always been wars around it, but Turkey is relatively stable. When we came back from Montenegro, we transferred in Turkey. At that time, many people gave up transferring in Türkiye and went to Serbia, but it was actually unnecessary.

Free Questions

Ogawa (question):

Is Türkiye more closely connected to investors in Saudi Arabia, the United Arab Emirates, and Qatar? Or is it more closely connected to European and American investors?

shan (answer):

But in general, we will initially raise funds from local angel investors, then go overseas to raise funds from investors in North America and Europe, followed by more international ones, including some capital in Asia-Pacific, and finally we may go to the Middle East.

There are also very few people entering the Dubai market to raise funds, because there are still relatively large cultural differences between them. They are even disdainful of some local investors with so-called royal backgrounds and project owners with Islamic culture.

Although the flight time to the Middle East is very short, only 4 to 5 hours, I think it might be more convenient for them to come to Asia Pacific. Applying for a visa and related matters will be very troublesome.

But exchanges and fansTokenThey are different, they actually have some connections.

Guest Activities

ABMTF is hosting a 10-day crypto kitchen talk event, inviting many entrepreneurs and project guests to come to the scene to experience local food and talk about their views on web3.

Shan will host two events, a pitch day and a meeting with polygon. He will also work with Xiaochuan to organize a branch event for investors at create Hose, so that everyone can experience a local breakfast with a sense of ceremony.

Ogawa will hold a create Hose event in Türkiye, which is a public product event and will provide beds for participants to stay for a short period of time.

The article comes from the Internet:Turkish Web3 use cases and basic overview of the crypto market

Related recommendations: 2013, 2017, 2021 Is the bull market driven by only “halving”?

The logic behind the “halving” driving the bull market is not only the situation, but also the cost factor. The emotions and logic of halving Many friends believe that the impact of “halving” on # Bitcoin is scarcity, which has led to people’s emotions of hoarding and speculating on BTC. In fact, the so-called “halving” is a halving of production. The entire network invests the same cost (computing power) in mining, but the output of BTC is halved. …