Central Bank hosts event on creation of Blockchain-based Digital Identification System

Sat 15 Sep 2018 02:21 GMT | 06:21 Local Time

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The Central Bank has hosted an event on creation of Blockchain-based Digital Identification System.

The Central Bank continuously implemented the complex events for expansion of digital banking which is among priorities of the Strategic Roadmap on development of telecommunications and information technologies in the Azerbaijan Republic approved by Decree of the President of the Republic of Azerbaijan on December 6, 2016.

In order to create the Blockchain-based Digital Identification System and attract the respective expert service to the Central Bank of the Republic of Azerbaijan the sale and purchase contract was concluded with IBM East Europe/Asia Ltd. A detailed action plan was prepared to cover the directions of activities determined by the contract and implementation of works on the plan was launched.  In continuation of the works conducted in this field, the Central Bank hosted the due meetings with participation of IBM East Europe/Asia Ltd company experts, a number of credit organizations, the Financial Markets Supervisory Authority and respective state structures on September 11-12, 2018.

During the meetings the information about the Blockchain technologies and progressive experience in this area was provided, the due presentations on the topics of digital identification that constitutes the basis of digital government and electronic society, areas of application of digital identification, the policy of knowing one’s customers were held and a broad exchange of views was conducted.

The activity aimed at successful implementation of the project and strategic expansion in other directions will continue with respective organizations.





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