Russia Begins to Play Its Hand in Cryptocurrency Mining

Russia Begins to Play Its Hand in Cryptocurrency Mining

The Sirius Report's London Paul has a short comment on the acceleration of cryptocurrency and the blockchain in Russia, with the Kremlin and CBRF doing a 180 in the last year from legal ambiguity and wariness to embracing the technology.

Since Vladimir Putin's extensive meeting with Russo-Canadian Ethereum co-founder Vitalik Biturin at the St. Petersburg International Economic Forum (SPIEF), the mainstream media has taken notice: the Democratic Party/Deep State mouthpiece Daily Beast published a piece this week complaining that Russians could use cryptocurrencies to bypass the recently passed Congressional sanctions (aka economic warfare) designed to damage Russia's energy trade with Europe. Now Bloomberg is reporting on an initial coin offering (ICO) to raise $100 million for 'mining' cryptocoins on networked machines or supercomputers, using Russia's vast supply of cheap Siberian hydropower as a selling point to investors. But as London Paul says in this week's article posted at The Sirius Report free section of the website, this is just the beginning, as Russia and China race to cryptocurrencies 2.0 and 3.0 applications. -- JWS

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