Turkey’s former industry minister, Ahmet Kenan Tanrikulu prepared a 22-page report on a proposal for the national cryptocurrency. In his interview, he stated: “The world is advancing toward a new digital system. Turkey should create its own digital system and currency before it’s too late.” According to the report, Turkcoin will resemble asset-backed securities from Turkey’s Wealth Fund, including institutions such as Turkish Airlines, the Istanbul Stock Exchange, Turk Telekom, the National Lottery and the Ziraat Bank.