Azerbaijani Central Bank’s pilot project of a blockchain-based digital identification system was presented at the Finopolis 2019 forum in Russia’s Sochi, Trend news agency reports.
The purpose of the development of the system supported by the national Financial Market Supervisory Authority is to expand digital services in Azerbaijan, as well as to ensure safe work with clients by using innovative technologies. Following the project implementation, individuals and legal entities will be able to get access to the banking services remotely. The required data will not be written on paper, which will ensure the integrity, accessibility and confidentiality of information.