Blockchain industry leaders see vast business potential in Russian Siberia

The regions of Siberian Federal District of Russia are regarded as a major platform for blockchain industry’s future development by the big guys in blockchain-related business, as stated by the State Duma member Victor Zubarev.

According to investors’ estimates, spare capacity in industry and cheap electric power could turn Siberian Federal District into one of the world’s major blockchain technology research and development centers in future.

“The development of digital technology-related industrial park is envisaged. It will attract about 3 500 000 000 worth of investments into Russia-based BitBaza corporation,” – Zubarev added.

The development of digital economy and cross-cutting technologies in Russia is outlined in “Digital Economy of the Russian Federation” program.

“Among the key objectives of the program is the goal of providing for institutional and infrastructural environment suitable for development of high-tech digital economy-related projects in Russia. Siberia, in particular, may become a world’s digital data storage and processing hub,” – the parliamentarian noted.

It should also be reminded that according to the statement made by the Minister of Natural Resources and Environmental Protection Sergei Donskoi earlier in March, it is considered appropriate to use solar energy and wind power for cryptocurrency mining in Russia. According to Donskoi, the idle capacities needed for these purposes are to be sought in Siberia and Russian Far East.

source: https://en.bitnovosti.com/2018/03/14/blockchain-industry-leaders-see-vast-business-potential-in-russian-siberia/

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