Azerbaijan Is the Next Country to Adopt Blockchain-Based Solutions

Azerbaijan Is the Next Country to Adopt Blockchain-Based Solutions

Blockchain News
November 6, 2018 by XNews Editor 3
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Azerbaijan is the new country in a developing list of these looking to adopt blockchain solutions. The Azerbaijani authorities has of late proven a keen interest in promoting DLT (Distributed Ledger Technology). The AMF (Azerbaijani Internet Forum) reportedly announced that the country will begin the execution of blockchain-based technology at the Ministry of Justice’s data
Azerbaijan

Azerbaijan is the new country in a developing list of these looking to adopt blockchain solutions. The Azerbaijani authorities has of late proven a keen interest in promoting DLT (Distributed Ledger Technology).

The AMF (Azerbaijani Internet Forum) reportedly announced that the country will begin the execution of blockchain-based technology at the Ministry of Justice’s data structures and registries.

Blockchain-Based Solutions

Osman Gunduz, the chairman of the Azerbaijan Internet Forum, lately introduced the information while talking to the trend news corporation.

When speaking to trend concerning the variety of electronic services that might be utilized to execute dispensed ledger technology within the Ministry of Justice, Gunduz said:

“The business enterprise presently affords more than 30 digital services, and also there are approximately 15 data systems and registries. The registers of electronic notary, electronic courts; reformatory service, the statistics systems of non-governmental groups, the sign up of population, and so on can be mentioned. The planned project entitled as ‘Mobile notary office’, which offers for the accumulation of all notarial files in one case, has seemed interesting.”

Key Components of Notarization

One of the key reasons why the Azerbaijani authorities needs to adopt blockchain solutions is the notarization of digital files. Other nations and groups have efficaciously carried out blockchain technology to their registry actions.

The AMF believes that utilizing a distributed ledger can provide transparency to their current “dated” device that is prone to falsities with regard to registering the Azerbaijani populace.

The authorities is making plans extra studies into blockchain answers with the purpose of increasing to other regions like natural resources. The AMF chairman provided a more in-depth outline of their intentions whilst talking to trend-

“The reality that the ministry is interested by the blockchain technology introduction attracted attention. It was announced that in the future, the smart contracts will be announced within the field of public utilities (electricity, water, and gas). That is, this refers to the switch-over of existing contracts of residents for the utility services to smart contracts, which will make certain transparency and will allow to suppress the cases of falsification in this region. The residents themselves could be capable to independently control all these kinds of procedures.”

As the CBS (Central Bank of Azerbaijan) is currently undergoing modernization with regards to blockchain technology, now it’s a great time for the government to adopt a more pragmatic attitude to blockchain solutions by incorporating them into their personal systems, a few speculators claim.

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