AIFC, 5EL SA agree to develop blockchain innovations hub

ASTANA. KAZINFORM Astana International Financial Center (AIFC) and Swiss digital technologies, digital commerce and media firm 5EL SA signed a memorandum of cooperation and agreed to develop a blockchain innovations hub in Kazakhstan, Kazinform refers to the AIFC press service.

Among other things, the document provides for the development of a blockchain initiative under the working title Bright Chain.

According to AIFC, 5EL SA also plans to set up a subsidiary of its 5EL Blockchain Lab in Astana and thus assist AIFC in creating and operating a productive innovation ecosystem.

5EL SA Deputy Chairman Serge Umansky noted that a long-term partnership with AIFC will help in promoting of blocking technologies both in global markets and in Kazakhstan.