Good afternoon, dear friends!
Over the past two days, Astana hosted the international forum on digital technologies and business Digital Bridge 2022. As the Chairman of the Board of the Kazakhstan Association of Blockchain Technologies, I took part in the Plenary meeting with the participation of President Kassym-Jomart Tokayev and a panel session on the topic “Problems of development of the digital mining in Kazakhstan”.
During his speech, the Head of State stressed that Kazakhstan is in the top 30 ranking of the most digitized UN states. However, our country has room to develop and the President identified the following priorities:
• Development of human-oriented Government;
• Creation of favorable conditions for the IT industry;
• Large-scale modernization of IT infrastructure;
• Development of the digital economy and Industry 4.0;
• Strengthening human capital.
At the same time, Kassym-Jomart Kemelevich said that our country intends to become a leading player in the field of new digital technologies, a crypto ecosystem, as well as regulated and transparent digital mining. This decision of the President was very warmly received by crypto enthusiasts.
At a panel session with colleagues Daniyar Mubarakov (Association of Blockchain and Data Center Industry), Yerzhan Abdiev (Eurasian Association of Digital Assets, Artificial Intelligence and Blockchain Technologies), Rauan Sagidulla (Binance), Gizzat Baitursynov (Ministry of Digital development, Innovations and Aerospace Industry) and special guest Huang Hen -Lee (Browan communications incorporation LLC) discussed the current problems and prospects of mining.
Once again, I publicly stressed that the key problem in the development of digital mining in Kazakhstan is the shortage of electricity caused by the depreciation of the country's energy system and the lack of work to increase the capacity that generates energy. I want to announce that our Association is ready to provide advisory and other assistance in developing a strategy for the development of the Energy System of Kazakhstan and amending the legislation, which could open this industry to private domestic and foreign investments.
This year, despite the fight against gray miners and the release of 600 MW of electricity, KEGOC again disconnected mining companies from electricity until October 15th. Despite the fact that the heating season has not yet begun throughout the country, which signals significant problems in the energy sector.
As Rauan Sagidula correctly noted, foreign investors have lost faith and interest in investing in digital mining in Kazakhstan due to constant problems with energy supply. In this connection, our country will again have to win back its share in the global hash rate and work to increase the attractiveness of Kazakhstan for investors.
In general, the state and market participants have a lot of work to do to further develop digital mining and the crypto industry. But the fact that these industries are discussed at such a high level is an indicator of the interest of society, the state and participants in this industry.