Mile Unity Foundation Signs Agreement with Kazakhstan to Use Blockchain as Foreign Direct Investment Management Tool

MILE Blockchain, promoted by the South Korea-based Mile Unity Foundation, brings transparency to the allocation of funds toward infrastructure projects in Kazakhstan’s Astana region. 

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NEW YORK ​(USA) – The Mile Unity Foundation and government of Kazakhstan have formally agreed to use the MILE Blockchain as a method for the transparent allocation of foreign capital investments for the development of significant infrastructure projects in the national capital of Astana.  

Under the agreement, Mile Unity Foundation will advise local officials and the Office for Investment and Entrepreneurship Development of Astana in the practical application of blockchain technologies for managing investment capital throughout the development process. 

The memorandum of understanding and partnership was signed by George Goognin, a Mile Unity Foundation Global Ambassador. Alisher Abdykadyrov, Head of Astana’s Office for Investment and Entrepreneurship Development, is the signatory representing the Astana government. Third party to the signing of the memorandum was Bolat Smagulov, a Mile Unity Silk Road Ambassador.

“The signing of this agreement is another step toward demonstrating the great progress the MILE blockchain represents in terms of cross-border transactions, investments and money remittance,” said Goognin. “We are pleased to be advising Kazakhstan’s officials and businesses in the implementation of blockchain that will ultimately improve the nation’s access to foreign capital.”

“Astana is undergoing rapid economic development, particularly in the area of IT startups,” said Abdykadyrov. “The pace of these developments necessitates a high-tech solution that ensures investors’ money is spent wisely and appropriately. The MILE blockchain, as an unowned and fully decentralized solution, is clearly the best tool to manage this task without any conflicts of interest.”

Mile Unity Foundation has also signed agreements with many governmental and commercial organizations in Japan, China, South Korea, Turkey, Brazil, Russia, Kazakhstan, Namibia, Uganda to educate people about new financial technologies and help them to apply it in the real economy. Currently, partnership agreements for using the MILE ecosystem exist with several organizations, including BRICS, G-Global and the Silk Road Association. The Mile blockchain allows free cross-border trade, investment and money remittance worldwide with a stable currency tied to the IMF’s reserve currency Special Drawing Rights (SDR).