Kazakhstan’s Shavkat Rakhmonov says he wants to fight Cowboy Cerrone after his UFC 254 victory
Kazakhstan intends to fight corruption with cryptocurrency
Kazakhstan plans to accelerate the launch of cryptocurrency
CBDC will help fight corruption in the country
Kazakhstan will be equal to the experience of China
This was stated by the head of the Anti-Corruption Agency Alik Shpekbayev. The official is confident that the introduction of digital tenge into circulation will help identify “dishonest” politicians.
Blockchain against corruption
The introduction of blockchain technologies and the launch of cryptocurrency into circulation will make the payment system of Kazakhstan transparent and controlled, which means that it will reduce the likelihood of money laundering by corrupt officials among government officials. As Shpekbaev himself stated, the country still has a system of kickbacks for received government orders in various areas of the economy. The use of blockchain allows you to track the movement of each transaction, and the use of KYC (know your customer) technology will allow you to identify the main corrupt officials of the country.
“First, it will cut the cash so bribe-friendly. Secondly, it will provide full transparency of the movement of budgetary funds during public procurement, ”Shpekbayev commented on the need to launch cryptocurrency.
To speed up the process of launching cryptocurrency became a necessity when the facts of kickbacks surfaced when purchasing personal protective equipment for the country’s doctors. Shpekbayev himself said that he was shocked that some officials would not hesitate to take kickbacks even at such a difficult time for the country. Kazakhstani hospitals experience a certain shortage of personal protective equipment precisely because not all money is spent on their purchase. Part of the funds ends up in the pockets of officials. To take control of the distribution of budget money, Shpekbaev proposed to speed up the launch of cryptocurrency as much as possible and transfer the entire settlement system to the blockchain.
“We are obliged to promptly prevent and suppress the cutting of funds in the implementation of social programs. An effective preventive measure here can be a full-fledged anti-corruption audit at the stage of their development, which will eliminate the prerequisites for theft and abuse. Only in this way will we ensure the support of state programs both in the preventive and prophylactic plane and in an operational and investigative way, “the official said..
Note that several officials were indeed dismissed from their posts for attempted corruption and money laundering from the country’s budget..
Cryptotenge will equal cryptoyuan
Kazakhstan is far from the first country to start talking about the introduction of digital currency. For example, China has already launched its own digital currency – the crypto yuan. Along with the launch of CBDC, paper notes and coins may be a thing of the past due to a new financial instrument – Central Banks Digital Currency (CBDC). As … More the government of the Celestial Empire intends to create its own eco-structure and challenge the global payment systems that support the American dollar.
Also, China intends to compete with the stablecoin Libra In June 2019, Facebook announced preparations for the release of the digital currency Libra. The social networking project immediately attracted attention … More developed by the Facebook teamIn June 2019, Facebook announced preparations for the release of the digital currency Libra. The social networking project immediately attracted attention … More.
The idea of creating a pan-Asian digital currency to counter Libra and the US dollar was invented in the private sector, however, the Nikkei Asian Review writes that this idea found support in the government. The project, presented on May 21 at a meeting at the China People’s Political Consultative Conference (CPPCC), involves the creation of an East Asian digital currency based on a basket of Asian currencies: the Chinese yuan, Japanese yen, South Korean won and Hong Kong dollar. The result should be a transnational digital currency, which will be based on the upcoming “digital yuan” China’s financial regulator has been working on creating a digital asset for several years. During this time, a large number of … More ”also known as DCEP appeared on the network. The shares of currencies in the basket will be determined by the economic scale of the participating countries.
Recall that since May of this year, city administration employees have been receiving salaries in digital currency. Pensions and benefits will be issued in the crypto-yuan soon.
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