Infrastructure to introduce blockchain to appear in Azerbaijan by 2020
Until the end of 2020, Azerbaijan plans to commission the infrastructure for introducing blockchain technology, Farid Osmanov, Chief Information Administrator of the Central Bank of Azerbaijan (CBA), said.
Osmanov noted that this is a pilot project, the development of which began after the signing of the State Program on the expansion of digital payments in Azerbaijan in 2018-2020.
According to him, in early 2019, an appropriate prototype was created. Currently, Osmanov added, a plan is being developed to coordinate further actions with the relevant authorities for the implementation of blockchain technology.
According to the CBA representative, the main goal in this matter is to create an open banking model, which in the future will expand Azerbaijan’s financial capabilities based on blockchain technologies.
