Azerbaijan is the next nation in a growing list of those looking to adopt blockchain solutions. The Azerbaijani government has recently shown a keen interest in promoting distributed ledger technology.
The Azerbaijani Internet Forum (AMF) reportedly announced that the nation will begin the implementation of blockchain-based technology on the Ministry of Justice’s information systems and registries.
The chairman of the Azerbaijan Internet Forum, Osman Gunduz, recently announced the news when talking to the Trend news agency.
When talking to Trend regarding the variety of electronic services that could be utilized to implement distributed ledger technology (DLT) in the Ministry of Justice, Gunduz said:
“The agency currently provides over 30 electronic services, and also there are about 15 information systems and registries. The registers of electronic notary, electronic courts; penitentiary service, the information systems of non-governmental organizations, the register of population, etc. can be mentioned. The planned project entitled as ‘Mobile notary office’, which provides for the accumulation of all notarial documents in one case, has seemed interesting.”
Key Elements of Notarization
One of the key reasons why the Azerbaijani government wants to adopt blockchain solutions is the notarization of electronic documents. Other nations and businesses have successfully applied blockchain technology to their registry activities.
The AMF believes that using a distributed ledger can offer transparency to their existing “dated” system that is vulnerable to falsities in regards to registering the Azerbaijani populace.
The government is planning more research into blockchain solutions with the aim of expanding to other areas such as natural resources. The AMF chairman offered a more in-depth outline of their intentions when speaking to Trend:
“The fact that the ministry is interested in the introduction of the blockchain technology attracted attention. It was announced that in the future, the smart contracts will be introduced in the field of public utilities (water, gas and electricity supply). That is, this refers to the switch-over of existing contracts of citizens for utility services to smart contracts, which will ensure transparency and will allow to suppress the cases of falsification in this area. The citizens themselves will be able to independently control all these processes.”
As the Central Bank of Azerbaijan (CBS) is currently undergoing modernization in regards to blockchain technology, now is a great time for the government to adopt a more pragmatic attitude to blockchain solutions by integrating them into their own systems, some specualtors claim.