Date: 10 months ago   Category: Economy

Kyrgyzstan intends to use blockchain in the agro-industrial sector


The Ministry of Agriculture of Kyrgyzstan has held on Thursday the presentation devoted to a blockchain and use of this technology for optimization of a chain of deliveries in the agricultural sector is reported on the official site of the ministry.

the Ministry of Agriculture of Kyrgyzstan has held on Thursday the presentation devoted to a blockchain and use of this technology for optimization of a chain of deliveries in the agricultural sector is reported on the official site of the ministry.

"The Ministry of Agriculture, the food industry and melioration of Kyrgyzstan carries out a number of projects on increase in safety of foodstuff. Today it is necessary to create a national security system of foodstuff which will use blockchain technology", - the state secretary of the ministry Maksatbek Tashbolotov has said in the speech. the Representative of the Central Asia International company Put

Xiaodong has noted that use of the distributed databases in blockchain-network simplifies accounting and process of coordination, and brings benefit to all parties concerned. The Central Asia International company is an initiator and the technical director of introduction of blockchain technology to the agricultural sector.

Still process of coordination demanded maintaining detailed paper documents by different contractors. Blockchain will allow the parties to coordinate terms of transaction and to sign documents, at the same time reducing the number of intermediaries and paper work. Such system of data exchange allows to structure chains of deliveries, uniting carriers, buyers, operators of warehouse and other parties. It is especially important for foodstuff with a short expiration date. Several researches have already shown that introduction of blockchain in the agro-industrial sector can help farmers to overcome many problems. The system simplifies sale of products and lays off the number of intermediaries in a chain.

For achievement of desirable result the same blockchain-network has to include all participants of a chain of deliveries. Thus, farmers, dealers, banks, ports, suppliers of logistic services and all other interested parties have to use one blockchain-the interface.

In April of this year in the report prepared by John Tiner&Partners law firm was noted that in Kyrgyzstan there is a legal system, favorable for cryptocurrencies and blockchain technology, which encourages development of DLT projects.

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