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Uzbekistan to Create Blockchain Center, Integrate Digital Currencies

Uzbekistan to Legalize Cryptocurrency, Create Blockchain Center for Innovation

The President of Uzbekistan Shavkat Mirziyoyev endorsed a decree to create a center for innovation, with a unit that will focus on the ways Blockchain technology can be used for innovation.

By June 2018, under the Mirzo Ulugbek Innovation Center, a Blockchain center will be formed, which will focus on using the distributed ledger technology to improve various, potentially outdated processes. The center will also focus on increasing the potential of new technologies, on supporting national blockchain developers, among other things, according to Uznews, a news outlet focusing on Central Asia.

The document was developed under the President’s Decree “on measures to further improve the sphere of information technologies and communications”.

The document also outlines that Uzbekistan will be actively developing and integrating payment systems, including international systems such as PayPal, Alipay, Visa, MasterCard, etc. A set of measures is said to be laid out by June 1, 2018.