Bitfury Group and Kazakh Financial Hub Collaborate on Blockchain

Asia Blockchain Review
June 8, 2019

Bitfury Group has collaborated with a major Kazakhstan-based financial hub to implement blockchain technology across multiple industries.

As reported by Cointelegraph, the Astana International Financial Centre (AIFC), headquartered in the Kazakh capital of Nur-Sultan, will apply Bitfury’s blockchain expertise in the development of projects and the promotion of startups on a global scale.

Development & Promotion

Bitfury, the largest non-Chinese company specializing in the development of Bitcoin blockchain software, will in turn launch data centers in Kazakhstan to gain exposure and work with the Nur-Sultan city administration, while also supporting the regional development and promotion of distributed ledger technology (DLT).

Additionally, the blockchain firm has plans to open education and training courses on the platform of the AIFC Bureau for Continuing Professional Development.

Timur Bairov, head of Kazakhstan for the Bitfury Group, said the tech giant has shown its “strong commitment” to education as well as equal access to technology via blockchain in Georgia and Ukraine.

In April, Bitfury collaborated with the Swiss investment firm Final Frontier to launch a Bitcoin mining fund for institutional investors, having received regulatory approval for the fund from neighboring Liechtenstein.

Regional Transformation

The AIFC, founded in 2015, is reportedly positioned as a financial hub for the Central Asian region, the Caucasus, the Eurasian Economic Union, the Middle East, Western China, Mongolia and Europe.

According to The Astana Times, the center runs on a special legal regime based on the English common law governing relations between AIFC participants and interested parties.

Kazakhstan has in recent years seen a surge of foreign businesses operating in the country. Analysts say the growth of foreign companies has accelerated inflows of foreign investment into the country’s economy.


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
South Korea’s Postal Service to Adopt Blockchain for Billing
South Korea’s national postal service is partnering with Coinplug to apply the technology to its bil...

June 19, 2019

Relex Crypto Platform Endorsed by Over $600M Vietnam Seaport Project
The investment platform has been endorsed by a seaport development project in its request for invest...

June 18, 2019

South Korean Power Providers to Set up Blockchain System for Energy Certificates
The agreement will establish a blockchain-powered system to improve transparency and efficiency of t...

June 18, 2019

‘F1 Delta Time’ Offers In-Game Items Stored on Blockchain
A Hong Kong-based game developer is integrating blockchain into its titles to allow permanent owners...

June 18, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us