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Crypto Will Not Replace Fiat But It's All Good

Crypto Will Not Replace Fiat But It's All Good

The CEO of Russia’s state bank Sberbank Herman Gref doesn’t expect cryptocurrency to replace fiat currency anytime soon nor in the future, according to the interview at the Astana Finance Days international conference in the Kazakhstan capital July 4. Grew cannot yet imagine governments “yielding their centralized role” in currency emission. read more

Crypto Art And Questions It Provokes

Crypto Art And Questions It Provokes

“It’s important that artists capture a certain kind of moment in cultural and technological evolution,” says curator of digital art the Whitney Museum of American Art. The cultural evolution charts a course to the crypto future. In this post, I will take a look at multiple pieces of art inspired by or dedicated to cryptocurrency. read more

Cryptocurrency Miners and Owners Will Be Taxed In Accordance with Existent Schemes

Cryptocurrency Miners and Owners Will Be Taxed In Accordance with Existent Schemes

Cryptocurrency miners and owners in Russia will be regulated under the Internal Revenue Code, as the Chairman of the Russian State Duma Committee on Financial Markets, Anatoly Aksakov, told the local news media Izvestia July 18. Individuals and legal entities will be taxed separately but in accordance to the existent Tax Code of Russia. Thus, physical people will be regulated under the conditions of the personal income tax, while entities – conforming to their form of business. Aksakov mentioned that in the future specific taxation schemes may appear if the government wishes so, but for now, no new laws will be introduced. Lawmakers are planning on passing the bill on cryptocurrency mining and holding during the Autumn session of the Duma. read more

An Association Made To Control Mining Hotels In Russia

An Association Made To Control Mining Hotels In Russia

Russia has focused on developing regulations for mining hotels and data-centers. Preliminary requirements include a space not less than 100 sq meters, 24/7 service and a fire extinguishing system. The Russian Cryptocurrency & Blockchain Association is creating a committee in charge of the legitimate, taxing and technical bases in the mining sphere. In the first 5 months of 2018, the demand for mining hotels has multiplied by six times. And not surprisingly: mining in domestic conditions is becoming costlier and less comfortable: equipment needs oodles of electric power, and in response brings too much noise and heat irradiation. read more

Russia cracks down on digital assets

Russia is doing its best to ignore or simply tear down innovations. In January this year, the State Duma made public a draft law concerning digital financial assets and basically put paid on them. The document contains noticeable white spots making the new law vague and ambiguous. Here are the fundamental points it affects: read more

What does Blockchain have to do with democracy in Russia

O slowly slowly rose she up… and moved towards democracy. 

Russia’s long way to the world’s trust is taking a new turn. The «what is going on up there?!» land has been gradually adopting Western habits since the latest Middle Ages, and in today’s world, the most important improvement for Russia has to be the rights, or, to be more precise, the people’s opinion on the country’s internal policy. 

Moscow, the biggest Russian city with the largest population (12 million residents), has launched a platform giving people the opportunity to participate in the urban development, be actually heard and counted. A program named Active Citizen allows residents to cast votes for measures ranging from the housing relocation to voting in which they get to put their condominium on the list of buildings to be reconstructed to the color of the new seats in a sports arena. 

So, what would that mean and what does it have to do with Blockchain? read more

Russia’s Major Airline Operator S7 Now Uses Smart Contracts

Russia’s Major Airline Operator S7 Now Uses Smart Contracts

S7, one of the largest airline operators in Russia, has tested an application based on blockchain to track information associated with refueling planes. 

Smart Contracts Speed Up Literally Anything 

According to the press release, the company trialed the application together with its fuel provider, Gazpromneft-Aero, and Alfa-Bank, Russia's major private bank, on a local flight based out of the Tolmachevo International Airport, Siberia. 

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