Azerbaijan to explore blockchain through IBM partnership

Azerbaijan to explore blockchain through IBM

Azerbaijan is planning to use blockchain in customs procedures by expanding the partnership work with IBM company in an intensive five-year economic plan.

IBM is going to use technology for targeting cargo transport this will be facilitated by the reported deal between IBM company and Azerbaijan country’s central bank in October 2018, which is supposed to be deploy blockchain in different areas over a five-year period.

The Azerbaijani State Customs Committee Chairman, Safar Mehdiyev, said: “It will be possible to obtain the necessary information from the database online, without outside interference."

“It will be useful for both entrepreneurs and customs authorities, as it will improve the quality of customs services provided,” he added.  

Mehdiyev highlighted that there are plans covering Moldova and nearby Ukraine, as well as neighboring Georgia.

In fact, this news reflect the mounting interest from both countries and institutions to use the Blockchain technology and enter the crypto world.  

As of 07:55 GMT, the Bitcoin was 1.88 percent up at $8,133.03, Ethereum surged 4.50 percent to $259.57 and Ripple augmented 2.76 percent to $0.4057.

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