Why Is Putin Interested In Ethereum?

I've always approached information with a critical mind. Not that I doubt everything but I believe there is always an underlying reason, often enough the reason is not the one that is being put out in the open.

So when I see big corporations and national interests join the blockchain rallymy brain starts itching. Not that there aren't more than enough good reasons for them to join.. I just doubt who pushed what button and what is the real agenda behind it.

When I saw Russia express such interest in Ethereum same question popped up

A little research showed the following:
-> Crude oil prices are struggling to sustain above the $50 per barrel levels.
Therefore, Russia, which is heavily depended on crude oil prices is looking at a new technology to reduce its dependency on oil.

In this regard, the recent meeting between Russian President Vladimir Putin and Vitalik Buterin, the founder of Ethereum assumes significance.

“The digital economy isn’t a separate industry, it’s essentially the foundation for creating brand new business models,” Putin said at the event, discussing means to boost growth long-term after Russia ended its worst recession in two decades, reports Bloomberg.

Though many large companies have voiced support to the Ethereum technology by forming an Enterprise Ethereum Alliance, it is yet to be adopted aggressively by any government or a central bank, though many are said to be testing the waters.

Russia is testing adoption of Ethereum in many sectors
Russia’s central bank has already deployed an Ethereum-based blockchain as a pilot project to process online payments and verify customer data with lenders including Sberbank PJSC.

Buterin has said that the Ethereum technology can be used in the government sector in Russia, which can help in rooting out corruption. It sounds really good and I agree it is one of the things that attract me to blockchain the most - it is like the final frontier where governments and administration will have to actually start doing what they were created for - serve the people. Being a national coming from the ex soviet block I have seen a lot of atrocities, from voting manipulation to abusive and straight impudent corruption.

If Buterin can convince President Putin about the advantages of the technology, we should see a speedier and a vast scale adoption in Russia, and when Russia leads the way a lot of other countries will follow. “If Russia implements it first, it will gain similar advantages to those the Western countries did at the start of the internet age,” said Vlad Martynov, an adviser for The Ethereum Foundation.

Regardless of what really drives the decisions of the big players in the World Game... the outcome is blockchain is here to stay and the fact that the adoption is so quick means one thing only! The time has come and they know they cannot stop it.

Can't Block that Chain !

Enjoy your life, be grateful!
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