The success of April Blockchain & Bitcoin Conference in Moscow has shown that cryptocurrencies and blockchain are quite a popular topic in Russia. The conference involved 30 speakers and brought together 750 guests.
Therefore, we are holding Blockchain & Bitcoin Conference Moscow once again on November 15-16.
Will we manage to exceed previous success?
Judge for yourself. Let's see the statistics of Google search requests across Russia. The 'blockchain' request is currently on a peak of popularity. It means that Russian citizens are interested in the technology more than ever. In comparison with today’s figures, the popularity of this request was, in average, 15% in April (when the previous conference took place).
The same can be referred to the ‘cryptocurrency’ and ‘ICO’ request in Russia. They experienced a peak of popularity in September, while the figures in April reached only 15% of maximum result.
Changes in Russia
Government institutions of the Russian Federation are also engaged in the blockchain, cryptocurrencies, and ICOs. The Federal Agency on Technical Regulating and Metrology has developed a working group to focus on the establishment of standards for the blockchain application in the country. It is also involved in developing the ISO/TC 307 international standard: Blockchain and distributed ledger technologies.
Meanwhile, the Bank for Development and Foreign Economic Affairs and the Ministry of Health of the Russian Federation are designing collaborative healthcare blockchain projects. The Ministry of Communications and Mass Media of the Russian Federation keeps up with them. The head of the Ministry has announced its readiness to support blockchain projects in Russia.
Vladimir Putin, President of the Russian Federation, personally said at the meeting of the strategic development council that the blockchain is a technology able to boost the development of Russia.
At the same time, cryptocurrencies are becoming a controversial subject. Igor Shuvalov, the First Deputy Prime Minister of the Russian Federation, said that he supported the creation of national cryptocurrency. At the same time, Anton Siluanov, Russia’s Minister of Finance, said at Moscow Financial Forum that his department would develop the bill on the cryptocurrency regulation in Russia by the end of 2017.
However, Elvira Nabiullina, the head of the Central Bank of Russia, has none of such an optimism. She believes that the application of cryptocurrencies in the modern world is more like a pyramid scheme, thus the regulator can’t legitimate them. Maxim Oreshkin, the Minister for Economic Development, agrees with her position. He thinks that digital assets are grossly overpriced. And this fact meant a financial pyramid in the 1990s.
Changes in the world
The cryptocurrency community has also faced significant changes since April. Bitcoin was divided into two cryptocurrencies: BTC and BCH. Ethereum is also expected to face a hard fork.
The USA started regulating the ICO sector, equating the issue of tokens to the issue of securities. The USA was followed by Singapore, while China prohibited tokensales within its territory and obliged startups to return investors all of raised money.
Besides, CoinDesk published a deep investigation of the ICO sector in Q2 2017. According to it, startups attracted $797mn using ICOs within three months. Venture financing allowed to attract only $235mn within the same period. As a comparison, startups collected $36mn in Q1 2017. Such a difference shows that tokensales have become the most popular way of fund raising aimed at company growth.
What does all of this mean?
Everything above-mentioned points to the fact that the blockchain, cryptocurrencies, and ICOs have become more popular not only in Russia but in the whole word. New matters for discussion are emerging. Thus, on November 15-16, Blockchain & Bitcoin Conference Moscow will bring together even more experts than previous time in order to discuss crucial issues.
The geography of Blockchain & Bitcoin Conference has already reached ten countries, and there is more to come. We always monitor fintech and govtech areas across the globe and actively encourage their development.
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