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National Welfare Fund of Kazakhstan privatized using blockchain technology

The Head of the Astana International Financial Centre Kairat Kelimbetov announced preparations for the launch of a new exchange.

The new exchange, which platforms will be based on the blockchain technology, will begin its work on September 1, 2017. The Ministry of Information and the Astana Innovation Company are working towards the establishment of it.

ʺIt is important that the privatization of “Samruk-Kazyna” company will be pursued on this exchange. And it is almost 40% of Kazakhstan’s GDP,ʺ Kairat Kelimbetov said during his speech at the ASTEX Astana Smart City International forum and exhibition.

“Samruk-Kazyna” JSC represents a holding company for the Management of State Assets of the Republic of Kazakhstan, which is controlled by the government and established to enhance competitiveness and sustainability of national economy. The holding company includes 576 subsidiaries and affiliated companies.

Earlier, the National Bank of Kazakhstan reported on the development of the Blockchain-based project for securities purchases. Almaty Tech Garden (ATG) accelerator and IBM have become partners of the financial institution. According to CEO of ATG Sanzhar Kettebekov, they are developing the project using the corporate funds of the National Bank and the ATG, but it is expected that IBM will invest up to $3 million next year.

Also, The First Credit Bureau of Kazakhstan announced the beginning of blockchain study. As stated by the CEO of the company Ruslan Omarov, the blockchain technology is interesting for his business as a means of storing information about credit history of citizens.

Source: forklog.com

  • December 2, 2016 12:19 PM MSK
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