Yandex Study Reveals Growing Interest in Crypto Among Kazakhstanis

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A study made by an international Internet services company showed the growing interest of Kazakhstanis on cryptocurrency-related terminologies. According to local news outlet zakon.kz, Yandex noted that the frequency to which Kazakhstanis have searched for digital currency-related terms has gone several times higher this year than that of 2017.

Based on the study by Yandex, the rise in the number of inquiries was registered in the month of June, and steadily increased in September of last year. The study stated that Kazakhstanis have been frequently querying Yandex on questions like “what is Bitcoin/Blockchain/ICO/mining?” The study also noted that “what is Bitcoin” became the most asked question in December 2017, during the time when Bitcoin’s price surged to $20,000.

Other frequently asked crypto-related inquiries in the country were, “can students work with Bitcoin?” “Bitcoin printing,” “what is Blockchain in simple words for dummies?” and “which mining services really pay?”

Kazakhstani Yandex users have inquired for the term “cryptocurrency” in their searches 15 times more in 2018 as compared to last year, with the searches for “graphics cards for mining” 10 times more frequent this year than that of in 2017.

There is also a notable increase in the search for the term “Bitcoin,” which was searched 7 times more this year than the early part of 2017. Kazakhstan users are also more likely to search for the term “ICO,” together with other modifiers, this 2018.

Last November, Astana International Finance Center in Kazakhstan expressed their interest in introducing a fiat-based cryptocurrency, the CryptoTenge.  The announcement was made after the country signed a deal with a Maltese financial broker. There have also been reports in November 2017 that Kazakhstan is deliberating on licensing a virtual currency and Blockchain lobby group in order to promote the new innovation.