Bancor, primarily based on ERC-20 and predominantly founded by Swiss bankers, is officially known as Bancor Network and operates as a DeFi project by principle.
DeFi projects are named for decentralized financial structures where decisions are not made from a single center. The aim with DeFi is to make traditional financial tools easily accessible to people and to have transactions conducted not by a central authority but by an algorithm or a community's decision, making it fairer.
The goal of the Bancor (BNT) DeFi project is to facilitate transitions between cryptocurrencies. Exchanges can be made equivalent in value between different cryptocurrencies.

Bancor (BNT) enables transitions between cryptocurrencies through a blockchain network operating on an ERC-20 basis. This transition is made from Bancor's own asset pool.
Users can convert any cryptocurrency into another cryptocurrency of their choice through the Bancor network. Since this conversion uses Bancor's own asset pool, there is no need for a concept of buyers or sellers.
You do not need to find a seller for the cryptocurrency you want to convert and wait to match with a seller. The exchange is made instantly from the cryptocurrencies available in the asset pool.
Bancor offers a very different method from other exchanges by conducting these buy/sell transactions with Smart Contracts without the need for a second party.

BNT is fundamentally a cryptocurrency issued by the same individuals for use within the Bancor system. It is the cryptocurrency held in Smart Contracts for making exchanges between cryptocurrencies on the Bancor system.
It is similar to banks holding reserves.
As Bancor is a DeFi project, transparency is one of the most crucial aspects. You can see all BNT balances held in Smart Contracts and the balances of other cryptocurrencies in the asset pool.

Contrary to what is assumed, buying Bancor with Turkish Lira in Turkey is very easy and fast. You can buy Bancor without any need for technical knowledge and official documents.