Russian Internet Development Institute Submits Blockchain Development Roadmap to Putin

According to Russian CNEWS, Russia’s Internet Development Research Institute submitted a report containing a roadmap for the development of blockchain technology to Russian President Vladimir Putin on December 22, titled “Economy and Finance.”

It describes the expansion roadmap of Internet projects such as digital currency and distributed ledger technology, provides a legal framework development plan for the technology by 2025, and points out that the use of blockchain technology will be legalized by 2017. The author emphasizes in the article that Bitcoin and blockchain are two completely different technologies, saying: "Blockchain is different from Bitcoin. Blockchain technology is a revolutionary technology for distributed databases, which is very helpful for the work of banks and securities companies."

The first part of the article talks about the role of blockchain in tax payment. It points out that users can pay taxes with the help of blockchain technology without verification and additional confirmation. This distributed network can have a variety of applications, including court fines and business loans. The author said that they hope to see the application of blockchain technology in the above aspects between March and October next year.

Next, the article talks about other markets that can benefit from blockchain - freelancers or private contractors (who provide remote services via the Internet). "In order to facilitate the work of freelancers, a mechanism for identity verification in favor of individuals should be developed by September 2016," the report says. In addition, a simplified procedure for paying taxes must be provided, because it is not easy to tax freelancers. "In Russia, people like to work remotely via the Internet very much," the author says.

The report also discusses the issue of digital currency crowdfunding. However, this behavior is quite difficult to carry out within the current legal framework. The researchers said that, for example, according to some current legal policies, residents of the Kamchatka Peninsula cannot invest in sanatoriums in Crimea. But they said, "This situation needs to change." They feel that these measures are "immature" and do not serve the banking system well. The researchers said that they found that charities and crowdfunding are increasingly interested in digital currencies.

Russia has been wavering on the legality of digital currency and this technology for a long time. Traditional banks in Russia have shown strong interest in this technology, such as financial giant Sberbank. Although Russian authorities have a somewhat negative view on digital currency and have formulated relevant restrictive policies, they are relatively friendly to blockchain technology.

According to CNews, it is unclear whether Putin has read the report. However, the report states that many citizens and organizations in Russia support blockchain technology.

Original article: https://news.bitcoin.com/vladimir-putin-presented-blockchain-roadmap/
Author: jamieredman
Compiled by: printemps
Source (translation): Babbitt Information (http://www.8btc.com/blockchain-roadmap)