The joint report by the National Bank of Kazakhstan and Binance was presented as part of the Digital Almaty 2023 forum: the paper discusses the integration of the traditional economy and the crypto industry, as well as general DeFi trends in Central Asia.
Binance blogged about the recent Digital Almaty 2023 event, which was attended by Binur Zhalenov, President of the Center for the Development of Payments and Financial Technologies of the National Bank of Kazakhstan, Olga Goncharova, Binance CIS GR Director, and Zhaslan Madiev, CEO of Binance in Kazakhstan.
The presented report of the National Bank of Kazakhstan and Binance analyzes the implementation of cryptocurrency in the daily processes of Kazakhstan and other Central Asian countries. In addition, the authors examined in detail the legal regulation of digital assets in the CIS countries, devoting separate chapters to Russia, Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, Georgia, Armenia, and Azerbaijan.
The key theme of the report was the coexistence of the traditional economy with digital assets and modern financial instruments.
“Traditional and decentralized finance must coexist and thrive together to ensure the creation of an efficient financial infrastructure. Together, they must meet the demand for a more inclusive, profitable, convenient, and faster service,” Olga Goncharova, Director, Binance CIS GR.
In addition to the positive effects of decentralization, the document also discusses the risks of the popularization of cryptocurrencies and DeFi, one of the possible ways to reduce them, the authors call increasing the financial and digital literacy of the population.
Author:
Grigory Shcheglov
Source: RB
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