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Blockchain technology may be used as database in Azerbaijan (Exclusive)

ICT Materials 23 October 2017 17:54 (UTC +04:00)

Baku, Azerbaijan, Oct. 23

By Anvar Mammadov – Trend:

The application of blockchain technology in Azerbaijan may begin with using it as a database, Maryam Taghiyeva, chief systems architect of the British Center for Citizenship, Enterprise and Governance, has told Trend.

She noted that in fact blockchain is a decentralized database.

“In centralized databases, there is one server and all the information goes into the server even if it is connected to different computers. In blockchain there is no main server. All those who are connected to this network – nodes - have a small copy of information stored in the blockchain. If any of the computers change the information, it changes not only on the computer itself, but on all other nodes too. This is the basic explanation of the security of blockchain, because if someone changes the information in the blockchain, everyone will know about it – absolutely anyone can enter and see the changes,” she said.

Taghiyeva said she believes using blockchain as a database is a simple and convenient solution, as this step does not require special regulation.

“I believe that for the introduction of blockchain technology in Azerbaijan it is necessary to first use it just as a database, learn to work with it, learn all the pros and cons, and only then begin to create something based on this technology. Today, everyone associates blockchain with bitcoin and rejects the technology due to the fact that bitcoin can lead to the growth of the shadow economy. Yes, bitcoin was used and is most likely still used to purchase weapons, drugs and other illegal goods,” she noted.

“Today it is needed to just sit down and study blockchain technology itself. The technology is developing very fast and needs to be explored. The use of blockchain as a database does not require special regulation.”

Besides, blockchain could be used not to create own cryptocurrency but digitize the currency of a particular country, Taghiyeva noted.

The blockchain community’s main problem not only in Azerbaijan, but throughout the world, is currently the shortage of qualified personnel, according to her.

“We have very few of those who know what blockchain is. And the existing knowledge is rather theoretical,” Taghiyeva said, adding she believes it is necessary to first explore this technology better.

Blockchain is a method of storing data or a digital registry of transactions, deals, contracts. Its main distinction and advantage is that the register is not stored in one place but is distributed among thousands of computers worldwide.

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