Tag: Russia

While distributed ledger technology (DLT) is still very much in its nascent stages globally, the undeniable fact remains that some nations have quickly embraced the groundbreaking technology with open arms, formulating practical use cases for the blockchain, with states like Russia still sitting on the fence. However, it appears the former Soviet Union is gearing up to join the blockchain bandwagon…

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On July 13, 2018, an 11-count federal indictment was filed against twelve Russian military intelligence officers allegedly infiltrating Hillary Clinton’s presidential campaign in 2016. The accused used cryptocurrencies to finance their operations and avoid the strict financial scrutiny that accompanies fiat operations. Russian Intelligence Held Responsible Digital Trends reported the misuse of cryptocurrencies by Russian intelligence officials to publicize stolen…

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Viber, the Luxembourg-based messaging and video call app with over 100 million users in Russia alone, has announced its intentions to launch a native cryptocurrency in 2019. Viber Studying Russian Law Local news outlet Tass reported the development on July 3, 2018. Rakuten, a Japanese e-commerce business conglomerate, and early-stage incubator, is the parent company of Viber and stated it…

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Russia’s largest banks Sberbank and AlfaBank, are planning to pilot cryptocurrency investment portfolios for their clients. Russia’s Cryptocurrency Push According to Russian news site Kommersant, the banks concluded to “test boxed solutions for private banking, based on digital financial assets,” on June 13, 2018, during the discussion at the Digital financial assets for banks, funds, and large capital roundtable. Under…

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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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