Russia To Implement Major Cryptocurrency Plans In The Country

In News

Russia makes a huge move in the country.

Russia is indeed pushing cryptocurrency in a whole another level. While Russia was reported to be releasing its own cryptocurrency, the local government is now pursuing an educational plan to implement cruptocurrencies to its citizens.

Often taunted as one of the most “stern” countries in the world, Russia is now entering the cryptocurrency boom by introducing educational system that will be all about digital currencies. In September this year, the Finance Minister announced that Russia is now legitimizing cryptocurrencies, as reported by AtoZ Forex. 

Naturally, the first step to integrating cryptocurrencies is to educate people about it. So from 2017 up until 2023, there will be special cryptocurrency education program that will add to the financial literacy and knowledge of people about the digital currency market.

The education system will be developed by Russia and the World Bank, in two major phases. The first one will be from 2017 up until 2019, with the second from 2020 to 2023. Although cryptocurrencies are not accepted everywhere and the skepticism is growing, Russia is making the move to educate citizens about the technology behind cryptocurrencies, their use and their applicability in the upcoming years.

The Finance Minister in Russia, Anton Sulianov, said on the TV Channel “Russia 24”, as reported by AtoZ Forex:

In the strategy to increase the financial literacy of Russians, it is necessary to include the topic of cryptocurrency. The question of investing in instruments such as cryptocurrencies will, of course, be discussed, and we now see more risks than recommendations on investing in such instruments. So, explaining the possible consequences of investing in unregulated instruments will be one of the issues with which we will speak for the current year and until 2023″. 

What is more, Russian students in universities now have the chance to take courses on blockchain and different topics on cryptocurrencies. Though banks have not accepted yet the digital currencies as a means of trading and payment, the step from the Russian government to start educating people only speaks about the big investment in time and money that the country will put for the near future.

AtoZ Forex also reported that the Russian governor, Alexander Drozdenko invited for cryptocurrency miners to found mining farms in Leningrad. The supply of cheap electric power and significant interest is required for the project to be successful, said Drozdenko.

With the upcoming plans and reformations in education, Russia seems to be a pro-blockchain, unlike other global giants such as China.

Though formal education about cryptocurrencies may be a wonderful idea for the average Russian citizen, youngsters and millennials are now turning to online courses and self-education to familiarize themselves with the blockchain technology and opportunities that lie ahead.

via Leap Rate

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