First Azerbaijani startup migrates to blockchain platform

2018-12-13 12:26:49

(MENAFN- Trend News Agency) Baku, Azerbaijan, Dec. 13

By Huseyn Veliyev -Trend:

The first Azerbaijani startup, IQRex, has migrated to the blockchain platform, Tural Karimli, director of High Tech Park LLC of the Ministry of Transport, Communications and High Technologies of Azerbaijan, told reporters in Baku Dec. 13, Trend reports.

He said that blockchain technology is a global trend and is used in many industries.

'Based on this technology, state registration, payments and document certification procedures are being carried out,' he noted. 'The Ministry of Transport, Communications and High Technologies presented the first blockchain platform for the first time in Azerbaijan, and the Azerbaijani IQRex startup was the first to migrate to this platform.'

In general, the blockchain technology can be applied in many areas of society, he added.

'Today, for example, Dubai is planning full transition to the blockchain technology by 2020,' said Karimli. 'In neighboring Georgia, this technology is used in real estate registration. We, in turn, presented a blockchain platform that all entrepreneurs, startups and companies will be able to use. The blockchain platform is multifunctional and can be applied to sign smart contracts.'

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