Another "Marginal" Country with a Great Government-Backed Blockchain Project...
Kazakhstan is not the sort of country which is in the world news every day. They don't have orange weirdos talking about "Making Kazakhstan great again" either...
And yet...they are kicking crypto asses, if you ask me!
The National Bank of Kazakhstan has announced it is testing a mobile app using blockchain technology to enable retail investors to buy and sell short-term debt obligations, as part of its plan to simplify securities trading in Kazakhstan.
A government selling securities to the general public through a blockchain-linked app is a huge leap in terms of transparency, convenience, and cutting red tapes. They go as far as stating that:
"In the future, these solutions could be used to place other securities, for example, during IPOs targeted at retail investors".
In other words...instead of whining about the dangers of bitcoin being used for illicit transactions, etc, etc, etc, a government deploys a blockchain ledger to manage and sell its most sacred assets...
To be honest, European regulators are not doing as bad as I am suggesting. In fact, they seem to be taking an "innovation first" approach, aiming not to kill blockchain use cases and pilot projects with preemptive red tape and prohibitions. In the current tough economic context, they probably realize they can't afford to kill a golden egg goose.
great post!
all i know is borat live in Kazakhstan hahaha
Borat is a cool dude !
If he is cool the country even cooler !!!
=]
post that brings stability & comfort in todays crypto market sentiments
thanks buddy
Nice post. I've actually been to Kazakhstan for 3 days. Liked it very much and now even more!! Although keep in mind this same government runs a country with a 22/100 score on the Freedom in the World index. https://freedomhouse.org/report/freedom-world/freedom-world-2017
Seems like a move in the right direction though.
Great post. I will follow you.
This news should be considered from different perspective.
Kazakhstan is a serious state and financial center of the Eurasian Economic Union.
One of the headquater of Eurasian Development Bank is in Almaty.
Kazakhstan's National Bank heavily invests into gold.
So this news should not be a surprise.