Russian President Vladimir Putin said they are behind blockchain technology, after meeting with Herman Gref, head of Sberbank, Russia’s largest bank, on Sunday.
Professional We Need People
Gref, who said they are considering integrating blockchain into their own business, told Putin that it would be beneficial for the Russian government to use blockchain technology in the field of education and vocational training.
Blockchain technology is one of the most important components of crypto money networks such as Bitcoin and Ethereum.
Gref said that they need people who are professional in this field.. He also stated that regulations that will not hinder the development of cryptocurrencies should be introduced:. But it is clear that some laws are needed in this area.. Because this technology will have a huge impact.”
In return, Putin explained why Russia should be more involved with blockchain technology:
“ Colleagues and citizens “What is the need for this?” he may ask. We have oil, gasoline, coal, mine, everything.. But we want more. That’s all.”
Putin said that those who will fall behind in the race will be countries whose leaders do not accept blockchain, adding:
“Russia cannot allow this.”
Russia and Crypto
Bitcoin and other cryptocurrencies are still not legally a means of payment in Russia. However, last month, a draft legislation was submitted to the parliament to legitimize cryptocurrencies and to regulate it in order to prevent illegal activities.. Russia’s central bank said the content of the bill was weak and needed to be improved.
Putin had instructed the Finance Minister to review the “cryptoruble” project.. But Finance Minister Anton Siluanov said that he will support financiers who want to create Russian crypto money, but not the government.
The Russian government is experimenting with blockchain technology, although cryptocurrencies are illegal.. Moscow is working on an Ethereum-based blockchain voting system for its Active Citizenship platform. Also, the Kalingrad regional government is working on a blockchain-based payment system.
Bitcoinist