Tech giant IBM can help banks of Azerbaijan to implement blockchain technology in the system of cashless payments. This was reported by Trend News Agency.

“The main goal is to ensure that commercial banks work with their customers and provide them with timely access to the provided services”, — said the Director of the Department of information technology Centralnogo Bank of Azerbaijan Farid Osmanov.

Commercial banks will have access to a single blockchain is the platform on which to store information about customers. According to Farid Osmanov, the introduction of technology will also enable customers of financial institutions to make faster credits.

In the framework of the state program of Azerbaijan IBM will also help banks to develop a digital identification.

ForkLog previously reported that IBM will help Saudi Arabia to implement the blockchain in public administration.