Center to be created for studying cryptocurrency market in Azerbaijan

ICT Materials 19 March 2018 12:47 (UTC +04:00)

Baku, Azerbaijan, March 19

By Huseyn Valiyev – Trend:

The Azerbaijani Internet Forum (AIF) has initiated the establishment of a center for studying and developing the market of cryptocurrencies and blockchain technology in the country, AIF Chairman Osman Gunduz told Trend.

Gunduz said that it is about creating a structure, which will include interested market participants.

“The Center will regularly organize meetings, hold discussions that will address issues of regulation of the market of cryptocurrencies and blockchain technology, provide consulting services, and prepare proposals on legal regulation of the industry. The creation of such a center is part of our plans for the near future,” he noted.

Gunduz also said that recently, a conference was held at the initiative of the AIF, the CryptoAZE Society and the Portmanat payment system on the theme of regulating the market of cryptocurrencies and the efficient use of blockchain technologies.

AIF chairman also outlined a number of important points, to which, in his opinion, should be given special attention, in connection with their importance for the development of blockchain technology and the cryptocurrencies market in Azerbaijan.

“It is important to pay attention to conducting educational work in the field of trading, as investments are accompanied by risks. Many people have no idea and are not aware of this. Educating with the involvement of internet media can be carried out by public and private structures. Another important point is the solution of issues of legal regulation of the industry, including issues of insurance of risks,” Gunduz added.

AIF chairman thinks that it is also important to study the experience of neighboring countries that have made some progress in this area and have the appropriate infrastructure and ecosystem.