Putin: Russia needs to advance crypto and blockchain technology

Russian President Vladamir Putin met with Herman Gref, the president of Russia’s largest bank, Szerbank, and discussed the importance of cryptocurrencies.

He said those countries who have legislated against cryptocurrencies have caused a massive transmission abroad of data and mining centers, and that those same anti crypto countries will be dependent on the leaders from the countries who advance this technology.

He implied this is a negative thing, to be reliant on other nations leaders when Russia has the intellectual foundation and resources to be at the forefront of the cryptocurrency industry and advance the technology themselves.

Putin also said its important to take advantage of all factors and possibilities to be technologically up to date regarding virtual currencies.

Write: Sara Bauer



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