Russia PM Says Blockchain Could Have An Impact in Future

Russia PM Says Blockchain Could Have An Impact in Future

Blockchain has been raising interests from many quarters and among the latest to speak out is the Russian Prime Minister. Dmitry Medvedev is reported

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Blockchain has been raising interests from many quarters and among the latest to speak out is the Russian Prime Minister. Dmitry Medvedev is reported to have said that so far there were no results seen from Blockchain but there is a likelihood of that changing in the future. He said that this technology could have major impacts in the near future as he spoke at the City of Sochi in an investor’s summit. This is according to the TASS, a state-owned news service.

Medvedev is the current prime minister of Russia having taken office in 2012 when the current president Vladimir Putin took the helm. This was not the first time the current PM and former president was speaking about the Blockchain technology. He has done so in the past where he highlighted that the technology could have serious legal implications and gave some contrasts.

During the summit, Medvedev said that he was not against the technology but could not endorse it. He however made it clear that the technology could have an impact on the future. He termed Blockchain and other technologies that are widely circulated as being able to change lives but the results were yet to be seen.

The Prime Minister’s comments come after the Russian Central Bank recently showed interest in Blockchain. The bank has been formally studying the technology since early 2016. They even went a step further and established a fintech working group that focused on a part of Blockchain in January. The bank’s interest has not stopped there. It has studied different aspects of the technology like the digital currency. They have developed a prototype distributed ledger that they called “Masterchain” during the testing.

So, which way Russia? It is evident that Russia is divided on its take on the platform that helps users control the exchange of digital currency. More reactions are expected to be seen in the near future.

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