GM from Kyrgyzstan
As a global Web3 company and one that actively works with international communities, partners, and events, we want to know more about the emerging crypto spaces in different countries. Well, GM from Kyrgyzstan! Tucked away in the heart of Central Asia, over 80% of Kyrgyzstan is covered by the Tian Shan mountain range. Great news: crypto adoption in Kyrgyzstan has been steadily increasing, grassroots movements like Web3 Kyrgyzstan are growing, mining is hot, and a regulatory framework is in development. Read on for more...
At Thrilld Labs, our team has included people from around the world, coming from countries such as the Netherlands and Italy to South Korea, Kazakhstan, Russia, the United States, Nigeria, and Scotland too!
Fundamentally, we argue that this global collaboration is a big part of what Web3 intends: an ecosystem or industry that removes traditional barriers to participation thanks to its inherent construction around a decentralized network. However, even with these decentralized beginnings, there remain challenges for everyone to have the same opportunities.
Whether it be from the lack of an internet connection or computer software, an intimidating knowledge gap, or legal limitations, your location is a determining factor. Where you live and who you are surrounded by, fortunately or unfortunately, do influence your work environment and how easily you can enter the Web3 space (or any, for that matter!).
Simply put, the global nature of Web3 is apparent, however, less so in some places compared to others. And yet we see the global nature of Web3 in global teams (such as our own :)), an increasing number of international Web3 companies, and, last but not least, all the Web3, blockchain, crypto and other related events taking place around the world each month of the year!
Therefore, for anyone working or interested in the Web3 space, having a global contextualization and understanding the barriers (and successes) that the average person faces is a critical step for advancing inclusion and activity in Web3.
While it is true that the Web3 ecosystem is more developed (or perhaps widespread is better) in certain regions when compared to others, there is still a significant number of users and builders from so many locations that are shaping the space. As a global Web3 company, and one that actively works with international events, communities, and partners, we are curious to know more about the Web3 ecosystem and emerging crypto spaces in different countries.
In the first location, we consulted with Aizhanat Zhalilov, leader of Web3 Community Kyrgyzstan and also a former Community & Partnership Trainee at Thrilld Labs, on the Web3 landscape in Kyrgyzstan.
Crypto in Kyrgyzstan
Tucked away in the heart of Central Asia, Kyrgyzstan is covered by high-peaked mountains, with over 80% of the country covered by the Tian Shan mountain range. Even so, it was once a part of the Silk Road and with other commercial routes, trade and exchange in Kyrgyzstan formed the basis of cities, trading towns, and caravanserais. Today, ruins still stand and, according to UNESCO, many of the Silk Road sites, customs and culture are still alive even with several nomad tribes living out on the steppes.
Kyrgyzstan shares four borders with Kazakhstan, China, Tajikistan and Uzbekistan. Even with global travel as advanced and frequent as it is today, regional commerce continues to be important.
We take the perspective of Web3 and ask: what is the scene in Kyrgyzstan like?
It appears that conversations are shifting. There’s growing recognition of blockchain’s potential — not just as a buzzword but as a tool for real impact. Indeed, in a report by statistics, it is true that “[the] adoption of cryptocurrencies in Kyrgyzstan has been steadily increasing, with local businesses and individuals embracing digital currencies as an alternative to traditional banking systems”.
In reality, the tech scene in Kyrgyzstan is still finding its footing, but the curiosity around blockchain and crypto specifically is undeniable. People aren’t just asking “What is Bitcoin?” anymore — they’re actively jumping into DeFi, DAOs, NFTs, and beyond. This is also apparent in the steps that the government is taking on regulations, the public take to cryptocurrencies, and emerging communities and events.
In 2022, Kyrgyzstan passed the "Law on Virtual Assets," creating a formal regulatory framework for cryptocurrency, exchanges, and crypto-related businesses. And more recently, as part of a larger global tendency, the Kyrgyzstan government approved a draft of a law that lays the groundwork for a central bank digital currency (CBDC), known as the “digital som”, last year. This would eventually serve as the official currency across Kyrgyzstan.
While there remains a centralized platform for management by The National Bank of Kyrgyzstan, blockchain and features like smart contracts are being implemented into the country's financial and technological landscape. For the individual, although cryptocurrency does not have widespread use yet, crypto mining has been thriving thanks to Kyrgyzstan's low electricity costs and the abundance of hydropower resources, yet the legal framework is still evolving.
Grassroots Movement: Web3 Kyrgyzstan
But, what makes Kyrgyzstan special in the Web3 space isn’t just the untapped market. It’s the people. From the buzzing streets of Bishkek to remote mountain villages, there’s a raw, unfiltered energy.
Young innovators are hungry to build, experiment, and push boundaries. We spoke with the leader of Web3 Community Kyrgyzstan, Aizhanat Zhalilov to get her take on the Web3 landscape in Kyrgyzstan, having hosted “over 20 events, gathering more than 200 builders, investors, and crypto enthusiasts” by organizing “hands-on workshops to meetups with major platforms, Web3 Community Kyrgyzstan's mission is simple: educate, connect, and inspire”.
The takeaway? Communities built on people-to-people relationships become a cornerstone in the Web3 space. For learning, support, resources, and even friendships, communities and events play an important role in advancing the dialogue and trajectory of the Web3 space.
On a final point, Aizahant concludes, “Our community thrives on collaboration, and we’re always open to new connections. Whether you’re a crypto OG, a curious newcomer, or a project looking for fresh partnerships, Kyrgyzstan is a place to watch. The landscape is wild, the potential is huge, and the ambition boundless”.
The global nature of Web3 means that the opportunities, challenges, and innovations we see in one region can shape the ecosystem as a whole. As we ask, “What is Web3 really about?”, the answer often lies not in one country’s adoption or success, but in the combined efforts of communities around the world. That’s true symbiosis.
We loved this glimpse into how decentralized tech can take root in emerging markets. Kyrgyzstan’s unique position, from its regulatory shifts to the growing grassroots movement – even from a country largely covered by mountains – is a reminder that Web3 is sincerely built by diverse people, with diverse stakeholders, and through collaboration, not in the last place across borders.
Resources
Kyrgyz Republic proposes digital som legislation, CBDC launch by 2027 – Cointelegraph
Kyrgyzstan Passes Law Defining Digital Som CBDC Framework – The Web3 Today
Cryptocurrencies - Kyrgyzstan – statista
Silk Road Programme, Kyrgyzstan – UNESCO
