Russia: ‘Blockchain Will Belong to Us’

The government of Russia is making concerted efforts to dominate the fledgling blockchain technology industry.

 Blockchain to Belong to Russia

Many companies and countries around the world have expressed their interest in blockchain technology. One of the major players in this innovative new technology is Russia. President Vladimir Putin has pushed blockchain technology as part of his new “digital economy” program, saying that the country can’t be “late in the race” for blockchain dominance. Putin has even met with Vitalik Buterin, one of the co-founders of Ethereum.

An article in the New York Times reports that the Russian government sent a high number of representatives to an International Standards Organization (ISO) meeting in Tokyo last year that was meant to establish international standards for blockchain technology. Many attendants at the meeting were very surprised to find out that the head of the Russian delegation, Grigory Marshalko, worked for the FSB, the successor to the infamous KGB. Marshalko also mentioned that 2  other members of the 4-person Russian delegation were also members of the FSB.

When delegates from other countries asked Marshalko why the Russian government spends so many resources to explore blockchain technology, he answered:

Look, the internet belongs to the Americans — but blockchain will belong to us.

It’s fairly obvious by the comments made by Marshalko, not to mention the emphasis placed upon the new technology by Putin and his government, that Russia is looking to take a dominant position in the field of blockchain technology…

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