“Blockchain, not Bitcoin”, Russia’s position becomes clearer – Cryptocurrencies

What is Russia’s position on Bitcoin and Blockchain? This question has long fueled debates within the cryptosphere. It now appears to be in the process of being resolved with recent decisions taken by the Russian authorities in this regard. The latest information indeed shows that the Russian government would prioritize the development of the blockchain, without supporting… Bitcoin.

Russia is resolutely turning to blockchain and other hi-tech innovations

Now more than ever, Russia is accelerating its development in areas such as blockchain, quantum computing, artificial intelligence and 5G. Recent statements by the Russian Deputy Prime Minister seem to corroborate such a state of affairs.

Addressing the upper house of parliament last Wednesday, Andrey Belousov identified blockchain as one of the preferred technologies for the Russian government. It is indeed one of the technologies that would facilitate interactions between the state and large companies.

In addition to blockchain, the Deputy Prime Minister also touched on other key technologies that would positively impact Russia’s development. Among the latter, we find artificial intelligence, microelectronics, quantum computing …

Russia creates the right framework for the use of all these technologies

AboutAndrey Belousov, it also emerges that Russia must take measures to facilitate the use of the new technologies mentioned above. Along these lines, the Russian government is reportedly considering creating a new business ecosystem.

About that, Andrey Belousov recently declared: ” During the recent parliamentary elections, nearly 30,000 Russians were able to vote online. They fulfilled their civic duty thanks to an online platform built on a blockchain authorized on Waves “.

All this is proof that positive signals are being sent by the Russian state regarding the use of blockchain and certain technological innovations. However, it is necessary to await the results of such decisions over time in order to be fully fixed.

On the other hand, if Russia seems convinced by the potential of blockchain technologies, when it comes to Bitcoin and crypto currencies, it remains a big “niet!”


Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

If the merits of all these technological feats are no longer to be demonstrated, the risks associated with their use should not be concealed. However, it should be noted that the Russian experience in this area will allow other nations to turn to these revolutionary technological innovations. One of the conclusions that can be drawn at this point in time is that Russia’s stance on Blockchain and several other hi-tech innovations is sure to be emulated in the region.

Related Articles

Back to top button