Uzbekistan Sets Plans to Dominate the Asian Blockchain Industry In Motion
editor - January 30, 2019

The Integrated National Information System of Project Management (NAPM) held a blockchain-focused conference in the capital Tashkent, in collaboration with the Uzbekistan Government. The conference included top Asian blockchain companies such as KOBEA Group Co., Ltd., (KOBEA Group), Infinity Blockchain Holdings Pte. Ltd, Wowoo Exchange (Wowoo X Pte. Ltd.) and Emurgo HK Ltd as well as industry experts from the likes of Kenji Sasaki, the co-founder of the third-generation virtual currency Cardano in attendance.
The main goal of the conference was to introduce blockchain technology within Uzbekistan.

Uzbekistan Will Integrate Blockchain Technology Into a Huge Chunk of Its Economy

The KOBEA Group, a public corporation, is currently the technical consultant to the Government of Uzbekistan. The group will play a major role in the country’s plans to adopt blockchain technology. During the meeting, government officials and legal ambassadors discussed plans to build a national administrative system based on blockchain, while establishing a government-authorized virtual currency exchange. The government also revealed plans to integrate blockchain technology into some of its sectors (healthcare, social welfare, education, culture, etc).

Uzbekistan will also use blockchain technology to monitor state budget, expenditure and revenue management. Recently, the presidency passed a decree legalising virtual currency
business across the entire Republic.


Opinions from Experts and Partners

Representatives from all three companies partnering with KOBEA and the Uzbekistan Government presented at the conference and issued statements addressing the bold move by the Uzbekistan Government.

Alex Hayashi, CEO of Emurgo HK Ltd, commented, “Today, Uzbekistan is very open to innovation. We are ready to help the country learn what the blockchain is, why it is so convenient, and how to raise the standard of living in all-encompassing areas, next to it.”

Yuji Akaba, Advisory Member of Infinity Blockchain Holdings, could not contain his excitement which was quite evident in his statement. Akaba has a high aspiration to “convey our experience with Uzbekistan on blockchain implementation and contribute to the development of the entire Republic.”

Final Words

With the federal government moving forward on capitalizing the advantages that blockchain has to offer, in addition to its “Corporate Tax Zero, Tariff Zero” policy, and young population, it is becoming evidently clear that Uzbekistan might just be ready for the 4th Industrial Revolution.

 

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