Russia is Setting the Pace in Blockchain Technology.

Russians are at the Forefront of Blockchain Technology.

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The Technology industry has grown from simple systems to new innovative technologies like AI and Blockchain. Many tech developers have plunged themselves into developing blockchain solutions, but the leading developers are Russian. According to Elena Masolova, an investor, 20% of top 50 blockchain startups are Russian. Russians are either the founders or investors in these startups.

Many of the Russians are either working at their startups back home or have moved to work for big companies in the US. Vitalik Buterin, founder of Ethereum blockchain and Pavel Durov, telegram owner, have placed Russians on the leading front. The two are among the many Russians involved in blockchain technology.

Russia’s view on Blockchain Technology

The Russian government led by President Putin is slowly warming up to blockchain technology. His government recently allowed Sbercoin, Russia’s first cryptocurrency exchange platform, to open its doors to the public. Even thought the government is still coming hard on some apps like telegram, mining farms are  being set up in the country.

Apart from  Buterin and Pavel Durov, other notable individuals like Yury Mukhin and Sergei Chekriy have created Glass Cube Company. Glass Cube Company is developing I-chain, an open source global insurance blockchain platform for the insurance industry. The platform will make insurance accessible to people all over the world and make prices go down. I-chain will also help insurance firms cut on the cost of running their companies. The company launched early last year with funding from Pavel Pribylov who is also a Russian. The I-chain prototype platform is already in place and undergoing tests. But it will be open to the public from May.

Russians are all over the blockchain industry either as developers or as investors. Some have moved and set up shop in other countries while others prefer to work at home. Apart from the ones mentioned above, other notable Russians in the blockchain industry include Sergei Ponomarev, CEO of the Supercomputer Organized by Network Mining company and Igor Barinov, blockchain priest at POA Network in San Francisco.Others are  Alex Fedoseev CEO of 1World Online, Alex Fork CEO of fintech firm Humaniq, and Siberian-turned-Australian Sergei Sergienko, CEO of ChronoBank.

Blockchain technology is new and comes with numerous opportunities for investment. Russian developers and investors have seen the opportunities and are ready to see it grow.


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