In August, Estonia proposed its own state-backed digital asset, which would be called “estcoin”. The small Eastern European nation said it was considering the launch of estcoin through an initial coin offering (ICO) — a crowdfunding method that has garnered much scrutiny in recent weeks.

And last month, Japan signaled the potential launch of its own digital currency, called J-Coin.

Kazakhstan’s entry into the digital currency ecosystem would be underpinned by Extante’s new blockchain platform, ‘Stasis’.

Blockchains are digital ledgers that record cryptocurrency transactions on encrypted “blocks” across a distributed network of computers.

“The development of such a system will bridge the gap between the traditional asset market and the crypto-world,” Anatoly Knyazev, co-founder of Extante, said. “We see keen interest from the market players, and we already have applications from other government-related financial institutions.”

The technology is being experimented in a “closed mode” at present, and Extante didn’t indicate a timeline for commercial launch.

Source link

Products You May Like

Articles You May Like

‘Raj Pink’ diamond, top gems, fail to sell at Sotheby’s sale
Ex-NFL stars avoid the pitfalls of being young and rich
Companies win if they embrace the change millennials demand
With Medicare enrollment winding down, most retirees don’t shop around
Michael Kors, Nvidia stocks are trading at extremes, could go even higher

Leave a Reply

Your email address will not be published. Required fields are marked *