Opening ceremony of First Corporate Blockchain Platform took place

The opening ceremony of the First Corporate Blockchain Platform took place on December 13. Discussions were also held on the areas of application and prospects for the development of blockchain technologies.

Speaking at the opening ceremony, Minister of Transport, Communications and High Technologies Ramin Guluzade noted that today in Azerbaijan the country’s leadership pays particular attention to the use of the most advanced technologies in the field of ICT.

“Important steps are being taken for the innovative development of the country’s economy on the initiative and under the leadership of our respected President Ilham Aliyev. Technoparks, business incubators are being created, the startup movement is expanding from year to year. High technologies sphere, including information technologies play an important role in this process. Experience shows that the vast majority of innovative projects are created with the introduction of information technologies. In the modern era ICT is developing in different directions. These areas include blockchain, cloud technologies, artificial intelligence, a large-capacity database and others,” - the Minister stressed.

The Minister noted that recently blockchain technologies have become a global phenomenon. New mechanisms are being formed in connection with the use of these technologies.

“Pilot projects on interbank transactions via blockchain are already being implemented in many countries of the world. Today, blockchain technologies are used not only in digital monetary units, but also in such areas as system registries, IT programs, data processing, electronic signatures. We believe that this area should also be widely studied in our country,” - the Minister said.

Ramin Guluzade also noted that the Ministry of Transport, Communications and High Technologies is ready to cooperate actively with other agencies on blockchain technologies, their introduction and development.

Among the speakers were heads and representatives of AzInTelecom, High-Tech Park, Central Bank, State Committee on Property Issues, world-renowned companies Lenovo and Nutanix.

Speakers noted that the blockchain technologies, which are currently one of the most discussed issues in the financial sector, gained popularity in 2009 along with the first cryptocurrency, bitcoin.

It was noted that by using the blockchain technologies many prestigious banks and financial institutions around the world announced the possibility of working with digital money as early as 2018.

Then there was an exchange of views on the application and prospects of the blockchain.