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China discussed with experts from Kazakhstan and Russia on digital currency plans and strategies of relevant national central Banks

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Kazakhstan will continue to develop digital currency mining projects in 2020

According to BlockBeats, experts from Kazakhstan, Russia, China and other countries gathered at the astana Online Finance Day 2020 to discuss relevant national central Banks' digital currency plans and strategies.

The development of blockchain technology gives new practical significance to digital currency. In May 2020, Kazakh Presidential adviser Musin suggested the introduction of blockchain technology and digital Tenge, aimed at combating corruption and ensuring transparency in the allocation of state budget funds. In June, Kazakhstan adopted the Outline for the Development of Blockchain and Digital Technology. In 2019, kazakhstan's digital currency mining project will attract 82.6 million Tenge (about us $20 million), and in 2020, it will attract another 80 million Tenge.

At present, kazakhstan's central bank is introducing the feasibility of digital Tenge demonstration. Zarenov, an adviser to the governor of the Kazakh Central bank, believes that the central bank's main task is to maintain the inflation target and financial market stability, while the solution of digital currency is second. The key is to ensure that the design of the digital currency system is consistent with the monetary policy goal.

Astana International Financial Center (AIFC) development department manager Kaliyev said the AIFC is willing to provide test support and legal basis for the introduction of digital currency in Kazakhstan. Previously, Kazakhstan has formulated a cryptocurrency storage and circulation scheme to regulate the process of virtual currency storage and circulation through professional platforms. The AIFC protocol has been included in the virtual currency and its classification, smart contract, digital wallet and other cryptocurrency market common terms.