Astana will discuss regulatory issues of cryptocurrencies and blockchain technologies
On June 7-8 Astana will host the first internationalconference “Blockchain regulation: opportunitiesand risks”. Event will be held on the territory of EXPO, with theparticipation of the government of Kazakhstan, professional associations andmajor international companies. The conference will be opened by a key figure inthe field of digitalization of Kazakhstan – Deputy Prime Minister of KazakhstanAskar Zhumagaliyev.
On May 17, At the Astana forum “Global Challenges Summit2018”, President of Kazakhstan Nursultan Nazarbayev proposed to develop commoninternational rules for the use and regulation of cryptocurrencies.
“Most countries are actively studying the possibility oftheir adaptation to the current configuration of financial systems. At the sametime, in this matter, the actions of States are absolutely scattered, and thesescattered actions will lead to inefficiency. It is necessary to start thedevelopment of common rules,” President of Kazakhstan Nursultan Nazarbayev saidat the plenary session of the Global Challenges Summit 2018 forum
“All that is needed from the state is to consider worldpractices and ensure wise and modern legislative regulation that willaccommodate the interests of the National Bank and computing companies. That isstressed by the Head of State,” said Alan Dorjiyev, President of the NationalAssociation of Blockchain and Cryptotechnologies.
The conference on Blockchain regulation in Astana, whichwill be held on June 7-8, can be the first step towards the development of thenecessary legislation. Experts from more than 10 countries of the world areinvited to share real cases on regulation.
“We are pleased that the State takes interest to the topicof Cryptotechnologies. Indeed, Kazakhstan has all the opportunities to become amajor player in the global Blockchain ecosystem. The country has one of thelowest electricity prices in the world – it really arouses the interest of theforeign investors to the construction of computing data centers,” Alan Dorjiyevadded.
Leading global companies and financial institutions, such asIBM, Hyperledger, KPMG, Infosys, European Bank for Reconstruction andDevelopment and others, are already investing in these technologies and areinterested also in development of the digital infrastructure of Kazakhstan.Accordingly, the country has the potential to become a new world center ofdistributed computing, accelerating the pace of digitalization and improvingits investment climate in new areas of the economy.