The BTS Labs Network Assembly @Istanbul, hosted by BTS Labs, was successfully held in Istanbul on August 22.
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The BTS Labs Network Assembly @Istanbul, hosted by BTS Labs, was successfully held in Istanbul on August 22.
For Turkey's long-term prosperity, we need to gradually introduce more Web3 use cases into the market and encourage young university club builders to start exploring cutting-edge technologies and application experiences.
Navigating Web3 tides with focused insights
On August 23, 2023, the BTS Labs Network Assembly @Istanbul, hosted by BTS Labs and co-organized by Altcointurk, was successfully held in Istanbul. We extend our sincere gratitude to the supporting organizations: Lens Protocol, Taiko, Polytrade, Clearpool, Symbiosis, Chainlink, CyberConnect, Fidelion, Kronos Research, IVS Crypto, Bitci Global; media partners: CryptoPNZ, Foresight, NewsPANwes, TechFlow, Odaily, Coinpost, Coinlive, Muhabbit; and community partners: Kazanç Rehberi, Coin Mühendisi, AltcoinTürk, Respect Trade, CryptoXero (Bitcoin Ve Altcoin Türkiye), Üstad Splinter, ARSUN BLUE, Kriptobi, Crypto House, Airdrop Türkiye, Kriptoetkinlik, 2Loud Network, 0xWilds, GnosisDAO, TokenPocket, Token Hunters, Cryptoiz Research, Satoshi Club!
BTS Labs Network Assembly @Istanbul—BTS Labs partnered with Altcointurk to share insights on projects in Istanbul. The event featured distinguished guests: Yilan Huang, Global Growth Lead at CyberConnect; Erkan Gül, Turkish Web3 investment advisor and angel investor; Mete Ali Başkaya, Head of Blockchain and Crypto Ecosystem at Nerf IT and lecturer; Ahmet Cengiz, Manager of Solana Allstars Turkey and partner at Altcointurk. Attendees engaged in discussions about the similarities and differences between Eastern and Western Web3 markets, as well as the latest trends, technologies, and applications across the global Web3 ecosystem.
The event kicked off with Eric Lee, founder of BTS Labs, who introduced BTS Global (comprising BTS Labs, BTS Ventures, and BTS Trading)—an integrated advisory service platform offering investment, financing, and incubation support. Among the many projects they have supported, AAVE, Sushi, BNB Chain, Alpaca, Crypto Blades, Polygon, and CyberConnect are widely recognized within the industry.
Following this, Yilan Huang, Global Growth Lead at CyberConnect, explained that CyberConnect is a multi-chain decentralized social graph protocol currently deployed on Ethereum, Polygon, Solana, and BNB Chain. The protocol aims to empower developers to build social applications while enabling users to own their digital identities (DID), content, connections, and monetization channels.
After the guest presentations, a roundtable discussion commenced. Lawrance Xiao, co-founder of BTS Labs, noted significant differences between Asian and European investors in the crypto market. Asian investors tend to focus on short- or medium-term profits, whereas European investors place greater emphasis on value-driven investments and seek out projects that solve real-world problems. The potential approval of Bitcoin ETFs could have a major impact on the crypto industry, possibly triggering the next bull run and attracting participants from traditional financial markets. For average users, this might represent one of the last opportunities for wealth creation before large institutional players enter the space. During his recent visit to Istanbul, he was struck by how prevalent cryptocurrency has become in Turkey—BTCTurk logos are visible everywhere, and major commercial banks are closely collaborating with local crypto exchanges. Clearly, Turkey is emerging as a central hub bridging Asia and Europe in the crypto market. Regarding specific sectors, he expressed particular interest in SocialFi, which holds promise to succeed where previous social media-based crypto projects have failed. He also follows AIGC and RWA-related projects, believing these could significantly influence daily adoption of cryptocurrencies. Overall, he looks forward to seeing how the industry continues to evolve and innovate in the coming years.
Web3 investment advisor and angel investor Erkan Gül shared that philosophical approaches and complex structures have so far hindered mass adoption. “When people ask us for shoes, we give them jackets and put obstacles in front of them.” Ethereum has been around for nearly nine years, yet we’re only now beginning to adopt verification methods like SMS, email, and Face ID—technologies already common in web2! To bring the next million users into Web3, we must stop appending 'Fi' to everything and instead build user-friendly applications. ETFs have long been a popular and proven investment vehicle, and now Blackrock, the world’s largest asset manager, wants a Bitcoin ETF. If approved, it would mark Bitcoin’s entry into the mainstream. We’d then see increased regulatory scrutiny focused on investor protection, deeper liquidity, and reduced volatility.
CyberConnect's Global Growth Lead Yilan Huang emphasized that Web3 and the broader crypto industry must find paths toward true mass adoption. People deserve a better internet, and our responsibility is to bring this vision beyond the bubble.
First, we need to fundamentally simplify wallet and key management onboarding processes—the biggest barriers keeping users away. Recent advancements in account abstraction technology (ERC-4337) hold immense potential by abstracting away much of the underlying complexity of blockchain networks. Key features include social logins, social recovery, cheaper and more convenient signing mechanisms, and truly multi-chain or even gasless transaction experiences enabled through bundlers. CyberConnect V3 and CyberWallet are already leading the market in terms of user adoption and transaction volume.
Second, mainstream users will come seeking genuine, superior experiences. We must move beyond the "Fi" aspect of web3. It is crucial for protocols and applications to jointly offer authentic and diverse use cases where users can immediately benefit from web3’s enhanced user experience, interoperability, and ownership. Key trends worth focusing on include social, gaming, and entertainment—with social being especially promising. As the largest decentralized social network in web3, CyberConnect is already at the forefront. Consider how Facebook brought massive new user growth to the internet and e-commerce in the 2010s. Now, people can form friendships and experiences via Web3—not just trade in solo mode.
For Turkey, this moment is pivotal. We see not only vast potential in adoption and trading activity but also among everyday users and the next generation of builder talent. For Turkey’s long-term prosperity, we must gradually introduce more web3 use cases to the market and encourage young university club builders to start exploring cutting-edge technologies and application experiences. CyberConnect is highly excited about this opportunity and plans to deepen collaboration with top local partners.
Ahmet Cengiz, Manager of Solana Allstars Turkey and partner at Altcointurk, said that like every young Turk, he believes blockchain technology and crypto assets present a great opportunity for Turkey. With proper regulation, Turkey could become a central hub for the blockchain ecosystem. He added that Turkey demonstrates strong technological adaptability—almost everyone is familiar with and interested in Bitcoin and blockchain concepts. Notably, students—the future of the nation—are already actively building and contributing to this ecosystem.
Mete Ali Başkaya, Head of Blockchain and Crypto Ecosystem at Nerf IT and lecturer, highlighted that Europe and Asia offer distinct opportunities for the blockchain industry due to their unique cultural, regulatory, and economic contexts. Europe’s emphasis on innovation, collaboration, and unified regulatory frameworks fosters an environment conducive to sustainable blockchain projects. In contrast, Asia’s rapid adoption rates and dynamic regulatory landscape create a fast-paced, flexible market—profitable yet challenging. A one-size-fits-all approach is unlikely to succeed across such diverse markets. To fully harness blockchain’s potential, understanding regional nuances is essential. Strategies for innovation, investment, or implementation must be tailored to the characteristics of either the European or Asian target market.
Web3 adoption in Turkey represents not just a technological shift, but a socioeconomic transformation—an opportunity that must be seized. While Web3 technologies have the potential to revolutionize various sectors and reshape Turkey’s economy and society, several challenges remain. Regulatory hurdles and cultural perceptions indicate areas requiring strategic attention. Achieving regulatory clarity, investing in infrastructure, and promoting public education are critical to establishing a sustainable Web3 ecosystem in Turkey. At this pivotal moment, the focus should be on adopting Web3 in alignment with Turkey’s unique economic, cultural, and regulatory environment. Decisions made today will shape the pace, longevity, and ultimate success of Web3 adoption in Turkey.
The conference concluded successfully, fueled by enthusiastic participation and active networking among attendees. The event received high praise for its quality within the local Turkish market. More importantly, it provided valuable exposure to diverse Eastern and Western perspectives on Web3 development and opportunities for local Turkish projects and institutions.
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