Given the growth of Azeri nationalism and the shifting geo-political balances in the region, the country leadership’s desire to play a more prominent role in regional affairs. Along with its understanding of the underlying cultural and economic challenges (corruption, for example), and their appreciation of the role of information technology in the economy, Azerbaijan has an opportunity to establish itself as a regional financial and a digital technological hub among the Turkic States and in the broader Middle East and Caucasus region. The CrediVault team will help them accomplish this objective.

Its digital transformation initiative should be viewed as an enabler for exporting its influence beyond the national borders. The strengthening ties between Azerbaijan, Turkey, and Israel, for example, show how external know-how, combined with internal support, can catalyze development of new technologies and capabilities in many sectors of the economy. CrediVault can provide a backbone of a new way for consumers, businesses, and the government to interact and deliver value to each other. This technology, and its derivatives/apps built on top (e.g. consumer, business, government portals) can become a basis for Azerbaijan’s technological dominance in the region and equal participation in the global technology industry. Based on the blockchain technology provided by CrediVault, and its most natural application to the financial industry, Azerbaijan can create an entire fintech industry whose products can take hold and get polished locally and/or regionally with the subsequent expansion globally.