- The commercialization enterprise behind Cardano, Emurgo, has entered into a strategic partnership with the Uzbek government’s National Agency of Project Management (NAPM).
- Emurgo will offer consulting services and provide an academic platform for the Cardano blockchain.
Emurgo, which works with Input Output Hong Kong (IOHK) and the Cardano Foundation on the global growth of the Cardano ecosystem and the implementation of the Cardano blockchain, has entered into a cooperation with the Uzbek government. Specifically, Emurgo has announced the establishment of a “strategic blockchain task force” with the Uzbek government’s National Agency of Project Management (NAPM), the KOBEA Group and Infinity Blockchain Holdings.
Cardano’s Emurgo advises Uzbek government
As part of the Task Force, Uzbekistan hopes to launch the era of a digital economy. According to the announcement, the KOBEA Group will act as a bridge between the banking and crypto sectors. The aim of the initiative is to develop a legal framework for offering security tokens (STOs) and exchanges (STXs) in the country. Emurgo states this in the blog post:
Security token offerings aim to tokenize and modernize traditional equities, bringing along the advantages of blockchain transparency, security, and efficiency. This agreement puts into motion a transformative solution with regards to security tokens and digital asset infrastructure.
By providing consulting services, EMURGO will shape the framework together with the Task Force. In addition, Emurgo and KOBEA will also provide consulting services in the areas of digital asset banking and trading as well as blockchain education. To this end, Emurgo will provide Uzbek students and graduates of the faculty of science with education and an academic platform for the Cardano blockchain.
In addition, Emurgo will provide consulting services to the government for the development of various projects using the blockchain technology. Ken Kodama, CEO of the EMURGO Group, said:
Uzbekistan today, more than ever, is open to innovation. It is a great honor to be able to work closely with the country’s government officials to help drive the implementation of blockchain technology. We are glad to provide our advisory services to the Uzbekistan government to build essential blockchain infrastructure & support local universities to train future blockchain experts.
A study conducted by the World Bank states that 37% of the 31 million people in Uzbekistan do not have bank deposits, but are “generally interested in implementing the technology, as evidenced by the increasing use of smartphones and the introduction of electronic payments”.
Uzbekistan plans blockchain revolution
As early as January 2019, a NAPM conference was held in the capital of Uzbekistan, attended by leading Asian blockchain companies such as KOBEA Group Co, Ltd, Wowoo Exchange (Wowoo X Pte. Ltd.) and Emurgo HK Ltd. At that time it was already stated that Uzbekistan wanted to integrate blockchain technology into a large part of its economy.
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The KOBEA Group, a public corporation, is currently responsible as technical advisor to the government of Uzbekistan. During last year’s conference, government officials discussed plans to build a national administrative system based on the blockchain technology and the establishment of a government-authorized virtual trading platform. In addition, the government also revealed plans to integrate the blockchain into several other sectors, such as health care, social services, education and culture.