Central Bank of Azerbaijan studying possibility of using blockchain

Baku, Azerbaijan, Nov. 24

By Anvar Mammadov – Trend:

The Central Bank of Azerbaijan (CBA) is studying the possibility of using blockchain technology, the bank said in a message Nov. 24.

The possibility of using the technology was discussed during a meeting of First Deputy Chairman of CBA Alim Guliyev with State Secretariat for Economic Affairs of Switzerland (SECO) Deputy Regional Director for South Caucasus Simone Haeberli and Chairman of the Board of the Swiss Trub Trading Christoph Willi Franzen.

The parties discussed the use of blockchain technology in foreign countries, possibilities of integrating systems of electronic identification into information and payment systems, as well as the experience of Georgia and Estonia in these areas.

Directions and prospects of cooperation between the structures were also discussed at the meeting.