A meeting of the Standing Committee of the Asian Parliamentary Assembly (APA), a major global inter-parliamentary forum, was held on April 18-21 in Russia. Among the participants were deputies of the State Duma of the Russian Federation and parliamentarians from 48 countries of the Asian and Asia-Pacific regions. Also, the IT group TKEY made a presentation on the importance of digitalization of economy for government and society.

The agenda of this 3-day event, along with discussing the issues related to creating a unified Asian energy market, preparation of resolutions and adoption of declarations, included the single business report made by TKEY CEO Maxim Yakimov. It indicates that the use of digital technologies in the world of rapidly transforming traditional financial instruments and emerging new economy sectors is crucial for their development.

The TKEY presentation at the APA meeting looks even more significant, considering that the event was dealing with the issues related to sustainable development and elimination of poverty. The report conveyed the idea that a digital economy based on blockchain technology can quickly and at minimal cost implement the measures aimed at improving the quality of people’s life in the APA member states.

A digital platform for intermediary-free payments, making economic and financial relations in the market more transparent, secure, trustworthy and affordable, will let the countries become attractive for investors, increase the competitiveness of their economies and help reducing corruption and poverty.

In an informal setting, the leaders of the TKEY group held several meetings with some APA states representatives, who see the digitalization of the economy as a chance to develop free trade and create a friendly climate between government, citizens and investors.

A number of participants expressed an interest in integrating a blockchain-based system at the government level, and supported the idea of ​​starting related pilot projects in the near future. Currently, TKEY is making the final tests of the Tkeycoin digital financial ecosystem (DFE), aimed at making fast payments at a new high-tech level. In a long-term perspective, it should become one of the basic components of the global digital economic system.

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