Bitfury to open data centers, other blockchain projects in Kazakhstan

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Blockchain tech firm Bitfury has announced a partnership with a significant financial hub based in Kazakhstan, which will introduce blockchain technology to several strategically important sectors, The Astana Times reported.

The Nur-Sultan based Astana International Financial Centre (AIFC) will leverage expertise from Bitfury in developing new applications for the technology, as well as in supporting local startups to reach global mainstream markets.

The partnership will also see Bitfury establishing data centers in Kazakhstan, while the firm will also deliver training in blockchain and distributed ledger technology at the AIFC Bureau for Continuing Professional Development.

AIFC Governor Kairat Kelimbetov said the partnership would help aid the development and understanding of blockchain tech in the region. He noted, “We are pleased to welcome Bitfury in Kazakhstan and the AIFC is ready to support the development and distribution of blockchain technology in the region. I am confident that the development of human capital will receive an additional inducement as well.”

Bitfury CEO Valery Vavilov described the partnership as a mechanism for better serving people in Kazakhstan, as well as providing a boost to blockchain startups in the country.

“We are encouraged by their enthusiasm for more transparent systems as well as their commitment to participate in a growing global economy powered by blockchain technology. We look forward to serving the citizens of Kazakhstan and the region in these efforts,” Vavilov said.

Bitfury’s Kazakhstan Head Timur Bairov said the partnership was confirmation of Bitfury’s commitment to strengthening its reach in central Asia.

“Bitfury has already shown its strong commitment to education and equal access to technology through its blockchain operations in Georgia and Ukraine, among others. We believe that we can help to build a brighter future for the people of Kazakhstan by introducing blockchain technology across many sectors,” he said.

The AIFC represents financial industries throughout Central Asia, as well as serving as a strategic hub between regional businesses and counterparts in the Caucasus, Eurasian Economic Union, Middle East, Western China, and Mongolia, before extending into Europe.

The partnership is the latest venture by Bitfury, after the firm notably partnered with a Swiss investment company in April to create a mining fund aimed at institutional investors.