Banker says blockchain suits Russia because of country’s vastness

ST. PETERSBURG, Jun 17 (PRIME) -- Russia would take advantage of a cryptocurrency based on the blockchain technology because of the country’s infrastructure and weather conditions, Dmitry Rudenko, head of Pochta Bank, said Friday at the St. Petersburg International Economic Forum.

“I would welcome an immediate appearance of a cryptocurrency and a system of settlements, based on blockchain because of one reason: I have to open offices across the whole country, including in the regions, where deliveries of cash costs more than the cash itself,” Rudenko said.

“From the point of view of the ecosystem, infrastructure of the country, there is no other way out…The other question is when the government will be ready to do it.”

A distributed system of certification, which is created by blockchain, could deprive the government of control over monetary settlements. “I see nothing horrible about it; it will happen all the same,” he said.

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