Azerbaijan is to implement blockchain and smart contracts in housing sector and legal system

The Government plans to integrate smart contracts in water, gas and electricity supply in future as well as turn existing contracts of residents for utility services to smart contracts. This will provide transparency and will help to reduce falsification and fraud. The citizens will be have an opportunity to control these processes independently.

Blockchain is a technology Azerbaijan continues implement when it comes to innovations issue.

Earlier, county’s central bank partnered with IBM to deploy the technology as part of a “digital transformation planned by a five-year economic plan.

While, financial sector is one of the most popular fields of blockchain implementation, it keeps gaining in prominence being implemented in more and more sectors. Ranging from small startups and ending with governments.

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