Tag: Russia

While bitcoin and other cryptocurrencies were built to rival fiat currencies issued by centralized institutions, they have now become more popular as an investment tool rather than a payment method. Recognizing this emerging market, legacy financial institutions are now contemplating taking their first step in the world of cryptocurrencies. Several central banks around the globe, for example, have already expressed…

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A government website for the Khabarovsk county in Russia was recently hacked in an attempt to mine cryptocurrency by siphoning the computer power of the users visiting the site. Fraudulent Miners Strike Again According to a report on local news agency Gubernia, malware had been active for roughly ten days before getting removed from the government website on June 7,…

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Russia’s relationship with the U.S. and other world powers has been anything but cordial in recent times. These sentiments have also been fueled by rumors that the former may soon develop a state-backed cryptocurrency to circumvent international sanctions. However, a recent speech by Russian President Vladimir Putin quelled rumors of a “cryptorouble.” No Cryptoroubles for Coin Collectors In a live question…

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In Kolionovo, a town 130 Kilometers away from Moscow, Russian farmers and small businesses are increasingly making payments with a local cryptocurrency, ditching fiat for digital money. Planting the Seed of Revolution Leading the way is banker turned farmer Mikhail Shlyapnikov, who introduced the small village to cryptographic form of payments after a bank ordeal led him to look for…

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Bitcoin could be set for a significant boost as Russia prepares to host the 2018 FIFA World Cup from June 14, 2018. Numerous hotels across the country have announced plans to accept bitcoin as a currency to ease forex woes for tourists. Rise in Merchants Accepting Bitcoin in Russia Russia is expecting half a million tourists as it prepares to…

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Russia is seemingly taking giant strides in adopting blockchain technology. The country’s latest blockchain push would see the Russian banking giant Sberbank and the National Settlement Depository monitor an Initial Coin Offering (ICO) on a state-developed blockchain. Russia’s Blockchain Push According to an official report by Sberbank, the two entities would test an ICO issuance on Central Bank of Russia’s…

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Shunning blockchain and smart-contracts for years, financial institutions are finally waking up to the potential that decentralized technologies hold, with a flurry of government and corporate companies making moves in the sector. Cryptocurrencies are “Property of Value” According to an official report by Russia’s lower house of parliament, the first draft of the new laws defining cryptocurrencies was approved by…

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Shunning blockchain and smart-contracts for years, financial institutions are finally waking up to the potential that decentralized technologies hold, with a flurry of government and corporate companies making moves into the sector. Mammoth Transaction, Minimal Traction According to an official release on May 16, 2018, Russia’s largest bank, Sberbank, recently utilized a Hyperledger Fabric-based smart-contract system to issued rouble-backed bonds…

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A small-time Moscow bank that boasts of President Nicolas Maduro as their largest shareholder, along with two Russian companies, is the new ‘it’ thing for investors that aim at investing in Venezuela’s new cryptocurrency ‘petro.’ Getting Around U.S. Laws The Moscow-based bank, called Evrofinance Mosnarbank, has made a name for itself in the international financial market as being the first…

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Football fans get ready, as we’re bringing you a promotion that’s going to have you on the edge of your seat. FIFA World Cup tickets are like gold dust – especially if you want to be one of the 81,000 at the final – but fear not, as BitStarz Casino has you covered. Between May 7 and June 2, the…

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