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The Crimean authorities are considering creating a blockchain block in the form of a cryptocurrency investment fund to attract technology companies in the area. The cluster would be located within the special economic zones (SEZ) in the Crimea and in its largest city, Sevastopol, the main Russian state service TASS reported on 9 November.
Georgy Muradov, Permanent Representative of the Republic of Crimea under the President of the Russian Federation, shared the potential plans of the Crimean Government on the blockchain block and the encrypted fund at a meeting of the Yalta International Economic Forum (YIEF) program committee in Moscow, November 9th.
Muradov pointed out that in 2018 the world's cryptocurrency business approach approached $ 1 trillion and that "these funds are venture capitalists and are seeking their refuge". He added:
"We started the conversation about blockchain technologies last year and considered creating a cluster, a blockchain-cluster, in the form of a cryptocurrency investment fund."
This spring, the Crimean government had already announced plans to create a cryptocurrency fund to avoid international sanctions and to attract foreign investment, Cointelegraph reported on April 20.
Last week, the chairman of the Russian State Duma Committee on Financial Markets shared the plans of the national government to release a state-supported stablecoin that would be "the same ruble, only in encrypted form", Cointelegraph reported. 39; 8 November.
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