Kyrgyzstan's acting president claims blockchain can ensure fair elections
Can a technological fix really combat a corruption-ridden political order? Kyrgyzstan's acting President and Prime Minister Sadyr Japarov has proposed introducing a blockchain-based system to ensure fair elections in the near future and restore public faith in the democratic process. On Oct. 20, Japarov reportedly told Al-Jazeera television channel reporters that: "We have had three revolutions because of unfair elections. If this continues, the unrest and the revolutions will continue. From now on, everything will be fair. I consulted with the Central Election Commission and offered them....
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Kyrgyzstan has suspended the SWIFT system and recommended that banking activities be halted until the severe political unrest in the country stabilizes. Massive protests broke out after parliamentary elections as the opposition stormed government buildings and forced the prime minister to resign. Suspension of SWIFT and Banking Services The National Bank of Kyrgyzstan announced on Wednesday that the SWIFT system has been suspended in the country as the political unrest intensifies. The central bank also “recommends that commercial banks and non-bank financial institutions suspend....
The government of Kyrgyzstan has recently revised its electricity tariffs for various groups of consumers. Authorities in Bishkek have raised the rates at which crypto mining businesses buy power citing the energy-intensive nature of the coin minting process. Crypto Miners in Kyrgyzstan to Pay More for Electricity Companies operating crypto mining facilities in Kyrgyzstan will have to pay a higher price for the electrical energy they need to mint digital currencies. The increase follows a government decision to update electricity rates across the board in order to “ensure the....
Amid the growing popularity of cryptocurrencies in Kyrgyzstan, the country’s central bank has reminded citizens about the risks associated with the digital assets. The monetary authority also warned that crypto payments are illegal in the Kyrgyz Republic.
National Bank of Kyrgyzstan Urges Caution With Cryptocurrency
Cryptocurrencies and other virtual assets are increasingly spreading in Kyrgyzstan, the nation’s central bank recently noted. The regulator reminded that using them to buy or sell goods and services is still against the law, with the Kyrgyzstani som....
“We believe voting should be safe and accessible to everyone, everywhere,” said Ripple. Blockchain-based payments firm Ripple has joined a non-partisan group of companies working to ensure access to fair voting in the United States.According to a Nov. 2 tweet from Ripple, CEO Brad Garlinghouse has joined Twitter CEO Jack Dorsey and PayPal CEO Dan Schulman at the Civic Alliance, an organization that states it supports “safe, healthy and trusted elections” in addition to encouraging members’ employees and customers to be civic minded.“We believe voting should be safe and accessible to....
The bank is shutting down the SWIFT network as protests rocked the country. The central bank of Kyrgyzstan has disabled cross-border transactions on the SWIFT financial network amid widespread unrest over the country’s disputed parliamentary elections.Aida Karabaeva, an official representative of the National Bank of the Kyrgyz Republic, announced a temporary suspension of SWIFT in Kyrgyzstan in a statement on Oct. 7.According to Karabaeva, the bank decided to suspend SWIFT transactions in order to prevent capital outflows from the country and ensure the safety of assets. The executive....