Uzbekistan premier signs ‘digital economics’ decree

July 05, 2018
Chris Wheal

Uzbekistan’s president has signed a decree to develop blockchain technology, including cryptocurrencies and mining, as the country aims to modernise by introducing “digital economics”.

Uzbekistan decree to create ‘digital economy’ signed by President: Shutterstock

President Shavkat Mirziyoyev put his pen to a decree entitled “On measures for digital economics development in the Republic of Uzbekistan”, which describes the key digital economic trends as blockchain, artificial intelligence (AI), supercomputers and digital tokenised assets.

Blockchain development programme

The statement designates the Government Office for Project Management along with the Ministry for Development of Information Technologies and Communications to implement a blockchain development programme starting this year, through to 2020.

The aim, according to the document, is to integrate blockchain’s distributed ledger technology wherever applicable.

Plans are reportedly under way to implement the technology in government and corporate IT systems for verifying identity information, clearing transactions and other applicable use cases.

Regulation of crypto assets

Meanwhile, those hoping to start up crypto-asset enterprises, such as cryptocurrency exchanges, must apply for licences.

Plans to regulate blockchain and cryptocurrency activity are in progress. A “Blockchain skill centre” is expected to open this month, while an outline for a regulatory framework is scheduled to be published in September.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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