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Russia Considers ‘Digital Crimea’ Blockchain Project to Bypass Sanctions

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Fri, 5/10/2018 - 11:40
Russia Considers ‘Digital Crimea’ Blockchain Project to Bypass Sanctions
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The Russian parliament members believe that implementing the Digital Crimea program, which would be a part of the overall program for digitizing the Russian economy, can enable Russian companies to avoid sanctions imposed by the US.

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Russian deputies and Blockchain experts claim that putting the Russian economy on digital tracks will allow hiding the real location of a company and it would be impossible to trace.

The “digital residency” system, which is also being considered now, implies an opportunity of companies located beyond Russian borders to make a remote registration within the Free Economic Zone. The latter will be created by the Russian Association of Blockchain and Cryptocurrency (RABAC). The government is also considering attracting investments through ICOs.

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