CZ partners with Kyrgyzstan to drive blockchain innovation across the region. The collaboration focuses on education, infrastructure development, and fostering a digital economy, marking a major step toward tech advancement in Central Asia.
Changpeng Zhao, the co-founder of Binance, is taking on a new advisory role with the Kyrgyz Republic in order to help the country develop stronger blockchain and cryptocurrency standards and infrastructure. Through this deal, Kyrgyzstan aims to position itself as a tech leader.
A memorandum of understanding was signed between the National Investment Agency of Kyrgyzstan’s office of the President and CZ. The deal allows Zhao to give technical advice, help with laws, and provide direction in the fast-growing area of digital assets. His engagement is likely to assist the country’s attempts to develop a strong structure for blockchain adoption and crypto-related ventures.
CZ was pleased by the announcement that he has “been advising countries around the world—officially and not officially—on using blockchain technology for more than just trading.” He said this work was very impactful and that it can improve government efficiencies and expand blockchain usage in a way that will benefit all.
President Sadyr Zhaparov welcomed the initiative, which he believes will help develop technologically advanced infrastructure expertise in blockchain, virtual assets, and cybersecurity. Such initiatives are crucial for sustainable growth and the nation’s digital security, he said.
Cryptocurrency mining will be safe and efficient in Kyrgyzstan, thanks to the nation’s electricity resources. A good part of its energy potential is still untapped, which can offer much scope for investment and development.
CZ of Binance is working with Kyrgyzstan to help other governments in Asia and the Middle East adopt blockchain tech. Though keeping his eyes trained on potential disruption and new fields such as artificial intelligence and biotech, he has shied away from politics.
This joint effort comes after a rough patch for Zhao, who was recently imprisoned in the U.S. for violating regulations. Since his release, he has been helping tech startups and supporting humanitarian initiatives. He has given crypto for earthquake relief in Southeast Asia.
With the digitalization of the country, the KOZ partnership with Kyrgyzstan may help it to become a blockchain hub in the region.
