Huobi Targets Biggest Market of Cryptocurrency Adopters with Turkish Conference

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Huobi Targets Biggest Market of Cryptocurrency Adopters with Turkish Conference
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Huobi Group in conjunction with Kemer Partners has announced they will be hosting the first annual Eurasia Blockchain Summit which has the makings of being the largest blockchain and cryptocurrency gathering in Turkey on October 18-19.

Turkey is the focal point for this conference for a number of reasons. The Eurasian region has largely been overlooked in the cryptocurrency space with eyes falling either on the Far East; Japan, South Korea, and China, or in Europe with a number of countries there trying to vie for prominence.

Yet, it has been found that in terms of cryptocurrency adoption by a percent of the population, Eurasia is rich. Turkey has been found to be the leader of cryptocurrency adoption with a reported 20 percent of the population saying they have used or owned cryptocurrencies before.

Turkey even tops South American countries such as Brazil, Argentina, and Columbia, where the use of cryptocurrencies is being driven up because of weak economies and inflation of fiat currencies. However, it is unsurprising that Turkey is near the top as they also have concerns about their own economy and the power wielded by the government over the population’s money.

Inflation is rife in the country, and the value of fiat is quickly depreciating because of poor economic policies pushing people towards alternative financial systems, such as cryptocurrencies.

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With this evident hunger and appreciation of cryptocurrencies, Huobi is hoping to provide a significant platform for showcasing of blockchain and cryptocurrency to further feed the hunger for the adoption of this technology and its associated financial system.

The conference is expected to attract local and international leaders to discuss methods in advancing the development and application of blockchain technology. Announcing Huobi Global’s support for the initiative, CEO Livio Weng said: “Turkey has been an important market for us this year. Our team has been on the ground to fulfill the promises we made to the users and bring in key industry leaders to trigger conversations around blockchain that were long overdue for Turkey. As a part of this initiative, expect bigger announcements from us in the coming three months.”

Importantly, members of the Turkish government, as well as c-level representatives from local banks, including BKM and SabanciDx, are also expected to make appearances at the event to discuss how the banking sector can utilize blockchain technology and payment systems in emerging markets. As a reminder, it was recently announced the Turkish Central Bank is expected to launch a blockchain-based cryptocurrency.

It is a sign of where Turkey currently finds itself; admitting that there is huge potential in the blockchain and cryptocurrency space and that they can benefit from it. But more so, it is vital for all these players, from different sectors across Eurasia have a forum to come together and discuss the potential and promise of this technology for a country like Turkey.

“Blockchain technology is set to be one of the most critical technological developments for Turkey in the upcoming years. By organizing the first annual Eurasia Blockchain Summit, we are giving Turkey the recognition it deserves as a hub for future development, for this year and many years following,” concluded Arfat Cenk Erkin, Founding Partner of Kemer Partners.