It is with great pleasure and pride that we announce that a cooperation agreement with Kaz Global Ltd. was signed at the Ministry of Finance in Budapest, Hungary, in the presence of the Minister of Finance of Kazakhstan and the Minister of Finance of Hungary. Kaz Global Ltd. works in a strategic partnership in Kazakhstan on projects supporting renewable energy, solar energy, hydrogen storage tehcnologies and all fundamentally renewable energy trends. We are setting up energy tokenization projects, and we will create a tokenization segment for the developments that have started. For the sake of the cooperation, a joint company will probably be established in Kazakhstan in the near future, which will be the first in the country to start the tokenization of the energy sector, and will introduce further innovations and strategies.
In addition, Smartset International Ltd. will propose the creation of an IT and digitalisation support organisation in Kazakhstan, which will promote the unification and support of protocols related to IT security and digitalisation. Furthermore, it aims to create a strong alliance with all those who care that regulatory systems are set up in the most critical technological areas as soon as possible, including those in the investment sector, so that this tehcnological and regulatory system can be effectively represented in a project.
This includes blockchain technologies, as well as all tokenization and digitisation processes, the application of which is becoming more and more widespread in our world. We believe that the market is huge, as there are many areas in Kazakhstan, and even in the surrounding areas, with serious raw material and potential value. The most effective way of doing this if, through digitisation and tokenization, we are able to raise this value to a platform where it can guarantee investors an investment in a safe environment, and highlight additional business potential.
This is the direction that we have committed ourselves to with Kaz Global Ltd, and to this end, further announcements will be made in the near future, with which we will begin to define and implement the boundaries of our cooperation in a practical way.
