Month: September 2015

Azerbaijan Mulls Its Own Cryptocurrency: ‘CryptoManat’

Azerbaijan is actively discussing the possibility of creating a “Cryptomanat” coin – the cryptocurrency equivalent of its national currency, the Azerbaijani manta, reports the Echo local newspaper.

Discussions of creating a national cryptocurrency started in the CIS countries after an announcement from Russian payment service provider Qiwi last week regarding the creation of a “BitRuble” in Russia.

According to the head of the Centre for Sustainable Development Research Nariman Agayev, some Azerbaijan citizens already tried to using the currency for financial transactions, but the venture failed.

“I am confident that the emergence Cryptomanat will not have a significant impact on the economy of Azerbaijan, since it won’t stay afloat for long,” he said. “It is in Russia, the US, Europe and Japan, where cryptocurrency was created and where electronic money can be used to…


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