Several Central Asian countries have taken steps to embrace cryptos one way or another. Kazakhstan, Kyrgyzstan, and Uzbekistan are some of the less conspicuous former Soviet republics, but now they are starting to appear on the crypto radar. With certain inherent advantages and some clever new policies, they try to attract investors and integrate into the global cryptocurrency ecosphere.
Cryptos Spent for the Common Good
Kyrgyzstan, which borders some of China’s mining regions, wants to use cryptos in public contracts. Prime Minister Sapar Isakov made the announcement during an economic forum in Almaty, the financial capital of neighboring Kazakhstan. “The digital agenda in the era of globalization” gathered government officials from the Commonwealth of Independent States (CIS) and the Eurasian Economic Commission (EEC), Sputnik reported.
According to Mr. Isakov, Kyrgyzstan will introduce crypto payments in projects financed by the government, as part of a program that should bring digital transformation to the country. “Taza Koom” is intended to build an open and transparent state, increase living standards and improve business environment. Through its implementation the country intends to take advantage of “emerging technological goods and services”.
Kyrgyzstani authorities plan to spend cryptos on an array of projects – from a program to improve access to government services, to a campaign to install traffic cameras for safer roads. They claim the goal is to build a “tidy and transparent society” and the Premier says:
Using cryptocurrencies will reduce corruption. We’ll be able to optimize government spending and increase budget receipts. We want to be a digital society!
Global, Democratic, and Transparent
Kazakhstan, where Isakov arrived on a working visit, also wants to be part of the crypto progress. The president of the Central Asian republic Nursultan Nazarbaev said he was interested in launching “a cryptocurrency, which is global in nature”. It will be called G-Global and will be “democratic and transparent”…