The latest blockchain news show that the technology is booming and continues to be a global phenomenon everywhere. The adoption and utilization cases emerge in almost every corner of the globe and digital technology is right now so popular that it is now a major talking point – not only in the financial sector but also in governance and politics. New reports show that the central Asia region is using blockchain in many industries, from healthcare to mining.
Yes – the seven “-stan” countries of Central Asia including Pakistan, Kazakhstan, Afghanistan, Kyrgyzstan, Uzbekistan, Tajikistan and Turkmenistan are all part of the sweeping digital phenomenon. Even though our cryptonews section rarely includes advances in blockchain coming from this country, they show that central Asia is using blockchain in numerous fields.
Some stakeholders in the nations argue that more still needs to be done if this region continues to enjoy a similar level of cryptocurrency and blockchain commerce – as seen in Eastern and Southeast Asia. Below, we are listing some of the most notable crypto and blockchain developments from central Asia.
We can start with Pakistan’s central bank which banned cryptocurrency in the country. However, this does not stop blockchain startups from running. The government of Pakistan is now looking to implement robust digitization policies.
Kazakhstan, on the other hand, is looking to exempt crypto miners from tax obligations. As a new draft law shows, the central Asia located country wants crypto mining to be recognized as a “purely technological process” only for tax purposes.
Afghanistan’s health sector is transformed with blockchain adoption. A new memorandum signed by the country’s Ministry of Public Health shows that the government “is committed for the institutionalization of electronic government in the health sector and the block-chain technology would help the ministry bring transparency, acceleration and effectiveness in the related affairs.”
The other region in central Asia is also benefiting from blockchain technology – and there are many countries which are practicing different cases of adoption. In Uzbekistan, for instance, the government increased the electricity tariffs for crypto miners by 300% – but also legalized cryptocurrency trading in the country with tax breaks for traders and miners.
All of this shows that central Asia is seriously gearing towards blockchain and crypto across various sectors – and it is definitely a key region which could influence Asia towards greater acceptance of the technologies as a whole.
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