Bitfury Group and Kazakh Financial Hub Collaborate on Blockchain

Asia Blockchain Review
June 8, 2019

Bitfury Group has collaborated with a major Kazakhstan-based financial hub to implement blockchain technology across multiple industries.

As reported by Cointelegraph, the Astana International Financial Centre (AIFC), headquartered in the Kazakh capital of Nur-Sultan, will apply Bitfury’s blockchain expertise in the development of projects and the promotion of startups on a global scale.

Development & Promotion

Bitfury, the largest non-Chinese company specializing in the development of Bitcoin blockchain software, will in turn launch data centers in Kazakhstan to gain exposure and work with the Nur-Sultan city administration, while also supporting the regional development and promotion of distributed ledger technology (DLT).

Additionally, the blockchain firm has plans to open education and training courses on the platform of the AIFC Bureau for Continuing Professional Development.

Timur Bairov, head of Kazakhstan for the Bitfury Group, said the tech giant has shown its “strong commitment” to education as well as equal access to technology via blockchain in Georgia and Ukraine.

In April, Bitfury collaborated with the Swiss investment firm Final Frontier to launch a Bitcoin mining fund for institutional investors, having received regulatory approval for the fund from neighboring Liechtenstein.

Regional Transformation

The AIFC, founded in 2015, is reportedly positioned as a financial hub for the Central Asian region, the Caucasus, the Eurasian Economic Union, the Middle East, Western China, Mongolia and Europe.

According to The Astana Times, the center runs on a special legal regime based on the English common law governing relations between AIFC participants and interested parties.

Kazakhstan has in recent years seen a surge of foreign businesses operating in the country. Analysts say the growth of foreign companies has accelerated inflows of foreign investment into the country’s economy.


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