Russia is Serious about Ethereum
Here, watch me take down U.S. dollar We all know by now that Russia is looking into Ethereum for use internally. What we didn't know was the extent to which they were serious. Putin's efforts to clean up corruption endemic to Russian government have been less than stellar. With the sheer scale of the geographical, cultural and economic imperatives of any project spanning Russia it is no wonder that they are looking into better tools to manage the day-to-day running of the country and its bureaucracy.
And it is this lack of standardization and/or streamlining that is holding Russia back from taking the next step into the top echelon of economies in the world today.
This report from RT tells us that Russia's plans for Ethereum go far beyond what Singapore is thinking about, namely having it take over most basic clearinghouse functions. Putin wants more accountability in government as well as professionalism in Russia's financial sector.
In order for Russia to become the regionally dominant player across a vibrant Central Asia, it will have to be a leader in banking and finance. It is not that today, at least in ways that rival the West.
This dovetails with Putin's goals of setting Russia on a long-term path to prosperity which he talked about at length in the interviews he did with Oliver Stone.
This is why he no longer concerns himself with the day-to-day machinations of U.S. foreign policy, but rather is willing to forego relations with the West if that is their desire and focus his energies on building a pan-Asia alliance with China and Iran.
In reading the latest three-year outline from the Bank of Russia (yes, I read central bank documents for fun... sue me!) the theme of professionalization of the financial markets is the Bank's top priority. And you know that came from Putin himself in many meetings with BoR President Elvira Nabullina.
Ethereum's ability to build application platforms with which to do all of these things puts Russia ahead of the curve and possibly leap-frogging many other countries consumed, right now, with keeping their monetary systems from complete collapse.
Sources:
https://www.rt.com/business/393741-ethereum-russia-blockchain-buterin/
http://www.cbr.ru/eng/finmarkets/files/development/onrfr_2016-18_e.pdf
BOOM @goldgoatsnguns, right in the "X" ring.
The only minor, not even disagreement, maybe slightly different viewpoint I have is that I think Russia realizes it doesn't have to fight a war, even a war of attrition, with the West, as it's doing a far better job of destroying itself from within than Russia could ever hope to accomplish.
All Russia, China & Iran have to do is stand back far enough to not get hit by the tail as the dying serpent thrashes around in it's death throes.
Thanks, @theblindsquirl. I think that the war of attrition Russia/China/Iran are playing is being fought on multiple fronts: financial, economic, technological, diplomatic (very under-rated) and, lastly, militarily.
So, yes, they are standing back and waiting for the implosion, but doing so while under-mining U.S. standing along all of those vectors I just mentioned. They don't want to do this, but, rather by defending themselves and playing the long game, they eventually wear us down and the Deep State out.
You're the first, level headed person I've found who pointed out "They don't want to do this..."
Not only that, but I think The West is bringing a knife to a gunfight.
Yes, you are right. I think Eth will reach at least $500 this year 😁
we all knew something like this would happen eventually....Im sure all of the major countries are looking for ways to get their hands on these things