Russian Ministry of Communications to Research Blockchain Technology
According to Russian minister for communications, Nikolay Nikiforov, options of using bitcoin’s underlying technology of blockchain to the benefit of the state should be scrutinized. He told that on the sidelines of “Internet Economy” forum on December 21.
“Blockchain technology as a new kind of technology is very interesting as it is applicable in diverse areas, not only in cryptocurrency space. Generally we should study how we can use it to the benefit of the state in terms of protecting various issues,”Â said Nikiforov according to TASS.
The minister added that his department keeps a close eye on development of blockchain, and undertakes various researches.
“We should look at the horizon of 5 to 10 years as to how this technology may help the economy, interaction between the state and people. There are many possible concepts,” he said.
The news follows introduction of a new draft administrative violations code, which implies punishment for issuance of, exchange of, and operation with money surrogates.
Contrary to the expectations that the code would become the first step in banning cryptocurrency in Russia, the draft law de-facto legalized bitcoin within the Russian Federation.
Subscribe to our Newsletter<
- NEAR Co-Founder: Bitcoin’s Level of Security Isn’t Necessary for Most Blockchain Use Cases
- Blockstack’s Muneeb Ali: Bitcoin as the Most Secure Blockchain Will Be the Best Foundational Layer for Web 3.0
- Eastern Europe Hit by Massive Russia and China-backed Cyberattacks, Including Strong Propaganda on Social Networks, Analysis Suggests
- Voice Launch Rushed in the Face of Legacy Social Media Crisis
- Ethan Buchman: I Might Be a Covet Bitcoin Maximalist, but Future Is About Proof-Of-Stake
- Are Censorship Free Platforms Doomed to Become Den of Trolls? Gab’s Case
- Kremlin-Backed Hacking Group Targets Power and Water Sector of Germany, Report
- Is First Decentralized Social Network Still Relevant: Steemit Retrospective Review