- The Russian government plans to base its technological development on blockchain and other technologies
- These plans were revealed by the First deputy of the Prime Minister
- This is another ambiguous development in the atmosphere of uncertainty surrounding blockchain in Russia
In today’s address to the Council of the Federation, the First Deputy of Prime Minister has named five technologies whose development will be top priorities for Russia. Namely, quantum and genetic technologies, artificial intelligence, alternative energy sources, and the blockchain.
After implementing the blockchain technology in the voting process, the Russian government is laying down plains for further technological development. In today’s address to the upper chamber of the Russian parliament, First Deputy of Prime Minister Andrei Belousov has named blockchain as one of the technologies the government will support.
The government plans to emphasize the public-private cooperation between the state and large tech companies. Belousov has noted a need to reform venture capital investment regulations so that private-public partnerships become more attractive to private capital.
Blockchain – priority of Russian government
“Here, the emphasis will be on the following. First of all, it is the support and development of promising technological foundation for end-to-end technologies through the cooperation of the state and major companies”, Belusov said.
While naming the future technological development priorities, Belusov has named the blockchain and distributed computing as one of the top priorities. He also has designated the development of quantum computing, production of quantum sensors, artificial intelligence, advanced materials, new energy transfer methods and sources.
The state of crypto in Russia
This announcement comes in the time when the future of cryptocurrencies is not looking rosy in Russia. In the light of the new federal laws that will come in power in January next year, many crypto websites were subject to government’s scrutiny.
In the wake of the deployment of the blockchain-based voting system, many of the said websites have criticized the particular system. This criticism has caused a backlash from the state communications regulatory body in the form of taking them offline.
On the other hand, in recent years, many representatives of government-owned companies have expressed intentions of adopting or developing blockchain technologies, along with some high state officials. So this duality of the Russian government’s attitude only brings more confusion in the state of blockchain and cryptocurrencies in Russia.