Crimea May Create A Blockchain Centre To Avoid Sanctions


Last week Georgy Muradov, the Permanent Representative of the Republic of Crimea under the President of the Russian Federation, revealed a plan to create a cryptocurrency investment fund to attract tech business.

Now, the Russian news agency TASS reported that Crimean authorities may create an investment platform supporting blockchain-cluster. This would allow foreign investors to anonymously work and invest in countries hit by sanctions.

The president of the Crimean Republican Association of Blockchain Technologies Investment, Roman Kulachenko, announced that a new international education centre for working with blockchain technologies may be opened.

“There are a number of states that, like the Crimea, that are under sanctions — for example, South Ossetia and Abkhazia. We have the same problems. And the center will allow us to combine efforts and solve the problem.” – Kulachenko said and added that such educational centre would help to train blockchain specialists from different countries that are under sanctions.

Earlier this year the Iranian Directorate for Scientific and Technological Affairs of the Presidential Office announced that it is ready to launch an Iranian cryptocurrency for exactly the same reason – work around the international sanctions.

Let’s hope that those projects become something more than just a clever way to avoid sanctions.

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