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Waves To Create Roadmap For Blockchain Development In Russia

12:55 03/04/2019
Waves Startup To Develop Plan For Blockchain Introduction In Russia

A Russian startup Waves Platform will prepare a plan for the development of blockchain in the country. Currently, the state initiative Digital Economy, a part of which will constitute the Waves' product, is being implemented in Russia, RIA Novosti reports.


It is expected that the roadmap will include an analysis of the current state of various areas and technologies, as well as determine their development paths. At the same time, the introduction of blockchain will be a rather inexpensive pleasure — it will cost just 0.01 rubles.


According to Sergei Nakvasin, a representative of the non-profit organization Digital Economy, the staff of Waves will help to create a plan taking into account current world trends and business needs. Companies will be guided by this document when launching their technology projects, the expert added.


Waves should prepare a plan for the development of decentralized technology by the summer of 2019, after which the Digital Economy organization and the Russian government will approve it. Blockchain solutions and projects based on DLT will be implemented until 2021.


The Rostech corporation is expected to be the curator of government initiatives to introduce blockchain and other end-to-end technologies, such as IoT, big data, and 5G. The Russian authorities will allocate 20 million rubles ($300,000) for the development of this sector.


At the end of March, Fintech Lab, the blockchain project accelerator, opened two new investment and banking programs. At the end of the incubation period, young companies will be able to launch a pilot project together with Gazprombank or other partners.


Recently, the Ministry of Digital Development and Communications of Russia has announced a plan for the development of the Internet of Things (IoT) in the country. However, platforms will have to open access to data for law enforcement agencies.

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