Russia future forecast

Russia Moving One Step Ahead -Blockchain Implementation

The so-called first Gov-level of blockchain implementation has been officially completed by Russia. Sberbank [the state-backed bank] declared on Dec 20, that it is teaming up with Russia’s Federal Antimonopoly Service [FAS] to install document and data transfer via blockchain.

According to local sources, the move represents the first case of direct government implementation of Blockchain technology.

On the wider implications of the decision, Andrey Tsarikovskiy, the statе secretary and deputy head of FAS, stated in the Sberbank press release:

“Our country is opening up new possibilities for the economy through the use of advanced knowledge and technology. Making the system launch a reality means we are not only one of the first actual users of Blockchain for government in the world, but also [are pioneering its use] as a practical tool for further growth.”

An attraction and significant interest has been always showcased by the Russian Government in advancing and developing blockchain technology in the country for couple of years now. Back in June, the President – Vladimir Putin did meet up with Ethereum’s Vitalik Buterin. The state owned bank VEB, back in August, signed an agreement with ETH Foundation to develop blockchain education programs throughout the country.

In contrast, the government’s official position on cryptocurrency use for regular citizens remains relatively strict.