June 23, 2026

Capitalizations Index – B ∞/21M

Kazakhstan Leverages Blockchain Technology Kindergarten Administration

Kazakhstan Leverages Blockchain Technology Kindergarten Administration

Blockchain technology will be used to manage waiting lists for kindergartens in Kazakhstan, reports local Kazakh news outlet Elorda Info, on January 29, 2019.

Blockchain Makes its Way into Kindergartens

Kazakhstan seems to be implementing blockchain technology from grass root levels quite literally; a report by a local media outlet posits that the nation will deploy the malleable tech to manage the vast database of children on waiting lists for kindergartens.

The education system in Kazakhstan requires parents to apply to kindergartens for the admission of their child and this process often results in long waiting lists for schools in high-demand. However, admissions in kindergartens are managed in accordance with federal law under the Standard of State Service.

This entails giving priority for admission to children with troubled backgrounds, for example, children without parental care, children with handicapped or disabled legal representatives, and children with special educational care.

At present, the process of managing admission waiting lists in Kazakhstan is a rather challenging one. An exceedingly high number of incoming applications lead to problems like incorrect data feeding, misroute, faulty communication, and others.

Remedy

However, according to Alisher Abdykadyrov, head of the Department of Investments and Business Development in Astana, DLT can help immensely in simplifying the whole process by making it more efficient and transparent. Abdykadyrov added that the decentralized admission system will go live on February 1, 2019.

Elorda Info adds that although the admission process was digitized last year, people weren’t too happy with the eventual outcome. The system was highly unstable, and citizens of the Kazakh capital complained that their data was not stored correctly.

In order to not repeat the same mistake, the newly devised system is said to be based on the business model of services like Airbnb and Uber. This means that it will allow parents the option to choose a kindergarten according to its rating and reputation in the educational world.

Kazakhstan Wary of Crypto

Akin to its Asian neighbors like China and India, Kazakhstan has maintained a safe distance from cryptocurrencies. BTCManager reported on April 4, 2018, how the country was considering prohibiting digital currencies.

However, a glimmer of hope appeared on May 17, 2018, when the President of Kazakhstan, Nursultan Nazarbayev urged the world community to develop a global standard for regulation of cryptocurrencies.

Kazakhstan leverages blockchain technology kindergarten administration

Like BTCMANAGER? Send us a tip!
Our bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Published at Wed, 30 Jan 2019 19:00:43 +0000

Previous Article

Why a 2nd US Government Shutdown Would be Even More Disastrous Than the Last One

Next Article

Why Experts Believe Blockchain Not ₿itcoin Narrative Doesn’t Work

You might be interested in …

Bitcoin trading bots: machines taking the lead

Bitcoin Trading Bots: Machines Taking the Lead

bitcoin Trading Bots: Machines Taking the Lead bitcoin trading bots have been getting attention from crypto traders. Claims of automated trade signals, 24/7 trading opportunities, and virtually 100 percent uptime are enough to turn any […]

EU Proposes Account Freezes to Prevent Bank Runs; Bitcoin to the Rescue?

Europian Union countries are exploring the idea of imposing an EU-wide account freeze measure to prevent potential bank runs. Could bitcoin provide a viable alternative to secure depositors’ funds?


Preventing the Chaos

Preventing the Chaos

European Union states have proposed a new measure which would effectively allow them to freeze bank accounts before a bank run takes place. The measure was planned earlier this year in order to prevent bank runs similar to that of Banco Popular last month. The proposal wants to prevent depositors from pushing over the edge banks that are already failing or will likely fail.

According to EU rules, each depositor that has less than 100,000 euros deposited in a bank account is insured from a bank run. But under the new plan, a potential bank run could force the supervisors to freeze bank accounts of all depositors, and thus freeze withdraws from bank accounts.

Charlie Bannister, of the Association for Financial Markets in Europe (AFME), noted following:

We strongly believe that this would incentivize depositors to run from a bank at an early stage,

Countries that already have a moratorium on bank payouts, like Germany, have strongly supported this new plan. According to a person familiar with German government’s thinking:

The desire is to prevent a bank run, so that when a bank is in a critical situation it is not pushed over the edge,

The bitcoin Effect

The Bitcoin Effect

Back in 2013, Cyprus’ banking crisis was a hair’s breadth away from a total economic collapse. Cypriot banks were desperate for a bailout from the EU and IMF and many account holders feared that their deposits would vanish. This fear caused a classic bank run and people were rushing to banks and ATMs in order to withdraw as much money as they could.

Inevitably, cash became scarce and the ATMs stopped working. Many saw bitcoin as the last option to secure their funds. The crazy demand from Cyprus for bitcoin caused the digital currency’s value to rise from $47 to $88 – an increase of over 88 percent! With the EU’s new proposal, many believe that bitcoin can once again be a safe way for depositors to secure their funds from a bank run.

What are your thoughts on this new proposal? Do you think that it will prevent bank runs? Will bitcoin be able to save depositors again from a bank run? Let us know in the comments below!


Image courtesy of Pexels

The post EU Proposes Account Freezes to Prevent Bank Runs; Bitcoin to the Rescue? appeared first on Bitcoinist.com.