Time in Yerevan: 11:07:36,   5 December

Armenia can become part of global blockchain revolution – FTAHK Chairman

Armenia can become part of global blockchain revolution – FTAHK Chairman

YEREVAN, OCTOBER 14, ARMENPRESS. Henri Arslanian, Chairman of the FinTech Association of Hong Kong (FTAHK), says Armenia has the necessary conditions for the development of blockchain technologies.

“Today a blockchain revolution is taking place in the four parts of the world. This flow also reaches Armenia which has a startup ecosystem, a developing civil society, a banking system which it trusts, and a diligence. All these factors are very important for the development of blockchain”, Henri Arslanian said during the ChainPoint19 international blockchain conference in Yerevan.

Henri Arslanian said this is similar to cooking, as all components are important. “It’s necessary to use the right spices so that the dish will be tasty. Armenia has this prospect”, the FTAHKH Chairman noted.

He emphasized that many countries of the world define laws over blockchain as every company wants to understand how they can record a progress by using these technologies. “We see that the traditional financial companies are also entering into the blockchain world. The major banks gradually started to make experiments with blockchain and also cryptocurrencies which is important for the crypto-ecosystem. By this way these old financial companies gain experience”, Henri Arslanian said.

Talking about using right the advantages of the blockchain, he highlighted the role of education and the development of laws in the respective field.

“One needs to be courageous. When the computer appeared, people were afraid of it. The society mainly approaches to the new technologies with reservations, and this is normal, but there is no need to be afraid of and it is necessary to understand how these innovations can be used not only in the financial market, but also in the daily life”, he said.

Edited and translated by Aneta Harutyunyan



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