Digital currency encrypted future of the Russian economy

Russian President Vladimir Putin met with the co-founder of Ethereum, the second digital currency behind Bitcoin. From a

technical point of view that could pave the way for the Russian economy based on the hydrocarbon sector.

Depending on the price of hydrocarbons, Russia is looking for ways to diversify its economy and the digital cryptocurrency

may be good. When Vladimir Poutine met Vitalik Buterin, the Russian founder of Ethereum, the second currency behind

bitcoin, according to a Kremlin statement. On the sidelines of the Saint-Pétersbourg Economic Forum held in early June.

“He described the opportunities offered by the technology developed in Russia. President Vladimir Poutine supported the

idea of establishing links with potential Russian partners”

An experimental project led by the Central Bank:

Russian authorities have begun to develop a certain interest in this technology. At the St. Petersburg Forum, Deputy Russian

Central Bank Olga Skorobogatova unveiled a pilot project for the blockchain based on Ethhereum, according to BLOOMBERG.

A week ago, the Development Bank of the Russian Federation approved the use of Ethereum in some management functions.

Vladimir Putin said at the forum that the digital economy is not an independent industry, but is the basis for creating new

economic models and discussing ways to promote Russian growth over the long term.

While the Russian economy has just emerged from its biggest recession in two decades, the digital currency can be

a decentralized tool in its development. By deploying and expanding Ethereum technology, the Russian economy can

eliminate many intermediaries and accelerate their growth.

Amazing development:

Its digital currency is developing at a great pace (and wind has recently been in favor of it leading to the top). Bitcoin hit record

levels in September to $ 5,000 several times, the value of the Bitcoin market more than approaching $ 72 billion, according to

the currency market.

Although less than Bitcoin, Ethereum recorded impressive progress. In March, this digital currency did not exceed $ 20 its

capital now less than $ 2 billion. After two months, it now trades approximately $ 301.83 and has a market value of over $ 28

billion.

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