The President of the Republic of Kazakhstan Nursultan Nazarbayev called on world leaders to create a unified regulatory framework for cryptocurrency sector.

During his speech at the Astana economic forum this Thursday, Nazarbayev said:

“Most countries are actively exploring the possibility of adapting the current configuration of financial systems. At the same time, this question is absolutely individual action of States, countries, and these disparate actions will lead to inefficiency. It is necessary to proceed with the development of common rules”.

The President also referred to the experts ‘ forecasts, who believe that cryptocurrencies will radically change the global economy:

“The phenomena of crypto-currencies, blockchain technology will radically change for the financial market, including banks. According to experts, 200 of the 500 largest companies will disappear in the next decade”.

In January of this year, the President also expressed his intention to create a global crypto-currency, secured intellectual potential of a person. The project was called G-Global, and is already being actively developed in Estonia with the company for modernization of the real sector of the economy G-Global Business Portal.

The project received the support of the Eurasian economic club of scientists already at the initial stage. According to Nazarbayev, the potential of G-Global is positively estimated at a higher level:

“It should be noted that the initiative G-Global has the necessary expertise and institutional support from international organizations. It has repeatedly been voiced at the summits of G-20. Just last week, on may 8, the Council of foreign Ministers of Organization of Islamic cooperation, which includes more than 50 countries, adopted a resolution in support of this initiative.”

The President believes that the scale of the dissonance in the legal systems of countries of the world and the risk of starting a “currency war” demand the withdrawal of development at the global level:

“Given the need to involve the entire international community, the development of the global anti-crisis solutions, I propose to implement this initiative at the site of the United Nations. The only body that all human society was elected to tackle the very serious problems.”

The UN is one of the most actively exploring the capabilities of the blockchain supranational institutions. In particular, the organization and affiliated funds are several projects related to DLT, to improve the transparency of the UN to combat trafficking in children, as well as the voluntary redirection of computer resources for mining in favor of UNICEF Australia.

As it became known yesterday, in the framework of the UN development program will develop “green” energy sector of the Republic of Moldova.