Kazakhstan plans to launch its own cryptocurrency

In August, Estonia proposed its own state-backed digital asset, which would certainly be called “estcoin”. The tiny Eastern European nation said of which was considering the launch of estcoin through an initial coin offering (ICO) — a crowdfunding method of which has garnered much scrutiny in recent weeks.

in addition to last month, Japan signaled the potential launch of its own digital currency, called J-Coin.

Kazakhstan’s entry into the digital currency ecosystem would certainly be underpinned by Extante’s brand-new blockchain platform, ‘Stasis’.

Blockchains are digital ledgers of which record cryptocurrency transactions on encrypted “blocks” across a distributed network of computers.

“The development of such a system will bridge the gap between the traditional asset market in addition to the crypto-world,” Anatoly Knyazev, co-founder of Extante, said. “We see keen interest via the market players, in addition to we already have applications via some other government-related financial institutions.”

The technology is actually being experimented in a “closed mode” at present, in addition to Extante didn’t indicate a timeline for commercial launch.

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