Azerbaijan’s Ministry of Taxes will look into the potential of blockchain technology, according to Trend News Agency.

Speaking at the "Taxes: Transparency: Development” conference in Baku on Tuesday, Azerbaijani Minister of Taxes Mikayil Jabbarov said that the ministry will study the potential of the technology to help organize the work of tax bodies at a higher level.

Jabbarov underscored the need of improving the existing service system of the Taxes Ministry in order to meet the requirements and expectations of taxpayers.

"Each taxpayer must have access to any service at any time and from any place,” he said. “The new technologies must completely transfer contacts with taxpayers to the e-format and enable to achieve transparency in these relations.”

Previously, reports suggested that the Central Bank of Azerbaijan (CBA) was seeking to tap blockchain technology to build a digital identification system for regulating the relations between banks and customers. In November 2017, the central bank also discussed various uses of blockchain technology in a meeting.