BAKU, Azerbaijan, September 11. The second day of the Chain Reaction 2024 forum has commenced in Baku.
The forum organizer told Trend that the crux of the event revolves around blockchain, Web3, artificial intelligence, and digital assets.
Deputy Director of the Financial Innovations Office of the Government of Liechtenstein, Angelika Lyar, emphasized the need for governments to create an enabling environment for the successful adoption of blockchain and digital assets.
"Our task is to prepare the playing field so players can freely operate within it," Lyar stated.
She highlighted that Liechtenstein had established a regulatory framework for blockchain and digital assets in 2020, including laws on blockchain and trusted service providers, to provide legal clarity for participants.
Lyar also noted the importance of engaging with the market and understanding technology to translate it into effective governmental decisions. Liechtenstein’s Financial Market Innovation and Digitization Office, reporting directly to the Prime Minister, serves as a key contact point for startups and innovative companies, offering support and establishing a regulatory sandbox for emerging technologies.
Chairwoman of the Innovation and Digital Development Agency under the Ministry of Transport and Digital Development, Inara Valiyeva, announced the establishment of the country’s first innovation center, AIM (Azerbaijan Innovation Center). Scheduled to open in Azerbaijan’s Baku and Sumgayit by October, with additional centers planned for later in the year, AIM aims to foster innovation through public-private partnerships and enhance the country’s technological landscape.
Valiyeva highlighted the agency's focus on five core areas: talent access, market, infrastructure, funding, and building a culture of innovation. She also revealed ongoing negotiations with funds to create a second venture fund in Azerbaijan, emphasizing the importance of nurturing an investment culture.
Furthermore, a MoU was signed between C4IR Azerbaijan and Binance, marking a significant step in advancing knowledge in Web3, blockchain, and related technologies.
The agreement includes collaborations with Azerbaijani universities through Binance Academy and its Global University Outreach Program (GUOP), offering accredited online courses and joint seminars on blockchain, NFTs, and the metaverse.
The head of Regional Markets at Binance, Vishal Sacheendran, remarked on the partnership’s role in promoting education and development in the blockchain sector.
"Our goal is to provide students and industry professionals with the necessary knowledge for the digital economy. We are excited to support localized educational programs to advance blockchain initiatives in Azerbaijan," Sachindran said.
