• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Vladimir Putin Endorses Blockchain: Russia Can’t Be ‘Late In The Race’

Dieter Holger by Dieter Holger
4 years ago
in News, Blockchain, Breaking News
0

Russian Federation President Vladimir Putin endorsed blockchain technology during a meeting on Sunday with Herman Gref, the president of Sberbank, Russia’s largest bank.


‘We Need Professionals in This Field’

Gref, who said his bank would implement blockchain into its business, suggested to Putin that the Russian government should include blockchain technology in education and professional training, according to a translation by YouTube channel Russia Insight.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Blockchain technology is one of the key components of cryptocurrency networks such as Bitcoin and Ethereum.

“We need professionals in this field,” he said.

He also called for “very careful regulations” that wouldn’t prohibit virtual currency.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

“Caution is needed, but it is clear that we need legislation on the matter because this technology has a huge impact,” Gref said.

Herman Gref
Herman Gref speaks about blockchain at the meeting with Russian President Vladimir Putin.

In response, Putin said “fine” before launching into an explanation on why Russia needed to get more involved in blockchain technology.

“Colleagues and citizens of the country may ask: Why do we need all this? We have oil, gas, coals, metals of all kinds … everything! But we need to further advance. This is what we need.”

Putin then quoted an unnamed oil minister of an Arab country who used a Stone Age analogy to describe how emerging technologies can disrupt society. (The analogy is a common expression that has taken on many different forms.)

“The Stone Age has not ended due to lack of stones, but because new technologies have appeared. And now new technologies appear in the world.”

Putin said that those who are “late in the race” would be dependent on leaders who adopted blockchain early.

“Russian cannot allow this,” Putin said.

Russia and Crypto

Bitcoin and other cryptocurrencies remain outlawed in Russia as a payment method, but draft legislation was introduced late last month that would legalize and regulate virtual currencies to curb illicit activity. The Russian central bank has said the law isn’t strong enough and needs improvement.

Putin previously instructed the finance ministry to look into the creation of a “cryptoruble.” But finance minister Anton Siluanov shot down the idea in a letter this week, saying he would support financiers creating a Russian virtual currency but not the government, Interfax reports.

“Attempts to use national digital currency to lure foreign investment would be forced to deal the need to change it for the foreign currencies.”

Despite the illegal status of cryptocurrencies, the Russian government has been experimenting with blockchain technology. Moscow is testing a blockchain voting system based on Etherum for its Active Citizen platform. And the regional government of Kalingrad is piloting a blockchain payment system.

What do you think of Vladimir Putin’s endorsement of blockchain and the state of cryptocurrencies in Russia? Let us know in the comments below!


Images courtsey Russia Insight/YouTube

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Dieter Holger

Dieter Holger

Emerging technology journalist reporting for Bitcoinist.

Related Posts

Phishing

Phishing Criminals Steal $70,000 Using Beeple’s Hacked Twitter Account

6 hours ago
Bitcoin

Bitcoin And Retirement: U.S. House Bill To Include Crypto On 401(K) Plans

23 hours ago
DAI

DAI Emerges Strong Despite Terra’s Downfall

1 day ago
Crypto

Cryptocurrency Is ‘Worthless,’ European Central Bank President Says

1 day ago
Crypto

Crypto Disaster: Ethereum Co-Founder Vitalik Buterin Claims He’s Not A Billionaire Anymore

1 day ago
A16z

A16z Rolls Out $600 Million Gaming, Web3 And Metaverse Dedicated Fund

1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.