BAKU – As the Chain Reaction 2024 forum enters its second day, a significant update has emerged regarding Kyrgyzstan’s agricultural sector, which has recorded a noteworthy increase in production compared to the previous year.

According to Trend News Agency, the announcement came amid discussions at the forum, which focuses on cutting-edge topics such as blockchain, Web3, artificial intelligence, and digital assets. The forum, gathering industry experts and government officials, is hosted in Baku and explores the intersection of technology and regulatory environments.

The Deputy Director of the Financial Innovations Office of the Government of Liechtenstein, Angelika Lyar, emphasized the critical role of governments in fostering a conducive environment for the adoption of such technologies. Liechtenstein has been proactive in this area, having established a comprehensive regulatory framework for blockchain and digital assets back in 2020. “Our task is to prepare the playing field so players can freely operate within it,” Lyar stated, highlighting the importance of legal clarity for technology participants.

In parallel, Inara Valiyeva, Chairwoman of the Innovation and Digital Development Agency under the Ministry of Transport and Digital Development of Azerbaijan, announced the opening of Azerbaijan’s first innovation center, AIM (Azerbaijan Innovation Center), set to launch in Baku and Sumgayit by October. The center aims to catalyze technological advancements through public-private partnerships, focusing on five core areas: talent access, market, infrastructure, funding, and fostering a culture of innovation.

Additionally, the forum witnessed the signing of a Memorandum of Understanding between C4IR Azerbaijan and Binance to enhance blockchain education and development in the region. This partnership will extend to Azerbaijani universities through Binance Academy and its Global University Outreach Program (GUOP), providing accredited online courses and joint seminars on blockchain, NFTs, and the metaverse.

The developments reported from the forum underscore a significant stride in both agricultural and technological advancements in Kyrgyzstan and the broader region, setting a promising outlook for the future of these sectors.