Blockchain is an ongoing topic of dialogue in Russia. However, there’s one curious aspect about Blockchain. main figures within the Russian digital currency network give an explanation for what to expect in case it’s applied, how even small cities can benefit from it and why the authorities desires it more than we might imagine.
Founder & Chief Executive Officer of Waves Platform, Sasha Ivanov, said:
“The modern situation is very encouraging. It seems like a regulation on digital currencies might be added in Russia soon. There is a set of legislators working on it at Duma, and we’ll see the legal draft on the end of the 12 months. There is a great interest each from commercial enterprise and developers towards Blockchain in Russia. Varieties of developers take part in main Blockchain initiatives. Huge business and authorities are looking into the opportunities that the Blockchain can provide. There are numerous directions for Blockchain and that makes us more positive about the future.”
Chief Executive Officer of Humaniq, Alex Fork, said:
“Russia isn’t ready for the Blockchain implementation. However, we can’t absolutely ignore Blockchain tsunami, approaching Russia from the West and Asia. If the Russia tolerates the resistance of digital currencies and Blockchain, the marketplace will need about a 12 months to get prepared for it. We’ve one of the most powerful developers communities in the world. It waits for the green light from the authorities. At Humaniq we continue developing Blockchain venture for the unbanked, and we focus on African and Asian low-profits areas. Maybe, there’s no ideal infrastructure, but digital currencies are not banned there.”
Marina Guryeva, Chief Executive Officer of Cyber Fund said:
“Russia is more than prepared for the Blockchain. Firstly, it has developers’ eager to created cool Blockchains. Secondly, it has developers keen to earn money and keep in mind that any public Blockchain can have the worldwide marketplace effect on some times larger than the local Russian one. The local economic system in many remote places in Russia could be rebooted due to Blockchains, as it was with Kolionovo, for example. Moreover, plenty of public offerings could be optimized in terms of expenses and efficiencies, as there’s correct information of Blockchain in the government.”
Artem Tolkachev, the Director and Head of legal for Tech group at Deloitte CIS, noted his opinion and thinks that regulation legislation can’t be applied without actual commercial enterprise cases.
Artem Tolkachev stated:
“It is very difficult to get prepared for any type of modification. Although, we see that many marketplace investors keep in mind that the Blockchain can critically change their business model. Most of them don’t rush to rework real cases and assume, that Blockchain implementation is possible after legal regulation only. The complex thing is that regulation can’t manage technology without keeping in mind actual cases of usage. For example, now we see that the authorities desires to control the Blockchain marketplace, but digital currencies are only one specific example of the usage of Blockchain.”
However, Russia is prepared to make Blockchain revolution a reality. The authorities desires to take control and obtain tax payments from this marketplace and growing a Crypto Valley question in Crimea. Creators are busy with developing new initiatives on Blockchain and gathering finances with ICO’s very fast. Time will show, whether it takes place soon or will be stuck in bureaucracy prevent signs and symptoms. In line with the professionals, Russia is ready for Blockchain, even though the consequences are yet uncertain.