Moscow wants to be the world capital in Fintech


Officials in Russia relieve they should become the world blockchain and financial technology leader. Being that it is certain that the country has the necessary resources. The growth Party led by Boris Titov has developed a program wich will be presented in the parliamentary elections this September.

Research and Experimentation in Blockchain applications are one of the main priorities for the development of information and financial technology in the country and it is believed that this could be able to help Russia out of its dependence on oil and gas. The main focus of economic figures must pivot toward the development of “future economy” which includes information technology and digital, advanced engineering services, genetics and biotechnology. The part which represents the “new industrialization” drives the flow of high-tech investment to the real economy.

Boris Titov says, “It is no less important than creating Internet. If today we are attracted by all major technologies and investors in the field of Blockchain and criptocoins that have all the resources both geographical and human. We would advance to take our place amongst the leading countries of the world, not only in this area but in general.”

After the decision of the UK to leave the EU the race is now on to replace London asthe Fintech world capital. Russia is a serious candidate to opt for this role and has the intentions to do it.

In April 2016 the Blockchain and Bitcoin conference held in Moscow representatives of foreign Blockchain companies shared their enthusiasm to contribute to the development of technology in the country.

The strategies and alliances head in Blockchain, Paul Szurek said, “Our mission is reinventing finances, make them suitable for the era of revolution of financial technology and provide people a better access to financial services.”

According to Szurek , Russia has great potential to develop innovative payment solutions on Blockchain’s basis. There are currently about 500 000 Blockchain users and the number is growing.

With support from the State through attractive tax policies the introductions of regulations is a little friendlier or even the creation of a unique platform for the researching and experimentation of Blockchain in the form of R3 can increase the chances of Russia to become one of the Blockchain world leaders.

Sources: CoinTelegraph

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