Baku, Azerbaijan, May 17
By Anvar Mammadov – Trend:
It is more reasonable to use blockchain technology in the financial and banking sectors in Azerbaijan, Vusal Gasimli, executive director at the Azerbaijani Center for Economic Reforms and Communication, told Trend May 17.
"This technology can be useful both in interbank transactions and banking transactions with cryptocurrencies,” he said. “Moreover, it will facilitate access to financial resources and improve financial services."
“This technology has great potential for using in consumption, education and healthcare sectors,” Gasimli added.
"Studies are already underway in these sectors,” he said. “We must accelerate this process, but at the same time we must not rush as the use of blockchain technology is connected with some risks, especially in the field of money laundering. Such risks must be taken into account. Therefore, I think Azerbaijan must continue its work to implement blockchain technology."
Gasimli stressed that three main directions should be outlined in the implementation of the blockchain technology.
"The first and most important thing is the preparation and improvement of legislation, the second thing is the import and use of the blockchain technology, and the third is staff training in this area," he said.
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