BERLIN, GERMANY - JUNE 01: Russian President Vladimir Putin speaks during a press conference with German Chancellor Angela Merkel at the Chancellery on June 1, 2012 in Berlin, Germany. Putin is on a one-day state visit to Germany before heading to France. The two leaders were reportedly expected to talk about Syria. (Photo by Carsten Koall/Getty Images)

Russian President Vladimir Putin certainly has his critics but there’s one topic they can’t help but applaud him for. Putin, along with a few other leaders around the world, believes that blockchain technology is the future and at this point, it’s a race to the top. Which country will use it first? Which country will use it best? How will this impact the world? These are the important questions of today’s generation and Russia is trying to answer them.

PUTIN MAKES STRONG CASE FOR BLOCKCHAIN TECHNOLOGY IN RUSSIA

Putin recently spoke with Herman Gref, the head of Sberbank. Together, the two talk about old finance and new technology, specifically in regards to blockchain technology. In the discussion, Putin noted that the “Stone Age had not ended due to lack of stones, but because new technologies appeared.” Gref, who is a long time advocate for cryptocurrency, nodded his head in agreement with Russia’s leader. Furthermore, Gref believes that this technology has the potential to change the course of the global economy. Will we see a “crypto-nation” soon?

PUTIN WANTS RUSSIA TO BE FIRST BLOCKCHAIN TECHNOLOGY NATION

Together with Russian authorities, Putin brainstormed on the subject of cryptocurrency and how it will affect Russia’s future. However, it seems the president is not just interested in cryptocurrency but also the potential of blockchain technology. As a result, the country will adapt their policy too include more blockchain related projects and even developing a state-backed cryptocurrency. Furthermore, the Finance Minister Anton Siluanov is currently establishing new rules that included taxation, mining and exchanging of cryptocurrency in the country.

WILL PUTIN SAVE RUSSIA WITH BLOCKCHAIN TECHNOLOGY?

After seeing the power of platforms like Ethereum, YouToken, OmiseGo, etc., Putin realized there is no shortage of opportunity within the crypto world. Opportunities that never, previously existed are popping up by the month. We are in the midst of a race. Whoever realizes the power of this technology first will win the race and benefit the most from it. However, it seems like the world is split right now. Some countries like Russia are going with it, while others like China, are against it. Perhaps we are heading far away from a blockchain race and into an all-out, blockchain war.

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