03:18 GMT +321 January 2019
Listen Live
    Bitcoin mining farm at the 3logic stand at the Russian Blockchain Week 2017 conference in Moscow

    Cryptocurrencies May Disappear in Few Years, but Blockchain to Stay - Russian PM

    © Sputnik / Evgeny Biyatov
    Get short URL

    MOSCOW (Sputnik) - Cryptocurrencies have become a new challenge for governments and businesses, they may disappear in a few years, but the blockchain technology has a chance to become an everyday reality, as it happened with the Internet, Russian Prime Minister Dmitry Medvedev said.

    During the speech at the Gaidar forum, he noted that theorists predicted the emergence of crypto-currency in the middle of the last century.

    READ MORE: Russia's Leading Bank Opens Blockchain Lab Amid Cryptocurrency Fever

    "Nevertheless, this is a new challenge for both governments and business. And for experts as well," Medvedev said, pointing out that approaches to cryptocurrencies are different — "from prohibitive to liberal ones."

    "And everyone is worried about the question: where is the limit of this "cryptocurrency race"? In general, maybe this is a dead end of cyberrevolution? After all, it can not be completely ruled out that the scenario of the early 1990s, when many companies appeared on the basis of the developing Internet and in the early 2000s these companies largely disappeared from the market. But the technology itself — the Internet — is not only preserved, but also plays a key role in our life. Similarly, in a few years, cryptocurrencies may disappear, and the technology on the basis of which these cryptocurrencies evolve, I mean blockchain, will become common. Such a scenario is also not excluded," the prime minister said.


    Crypto-Sex! This Crazy Blockchain App Ensures Legal Consent
    'Gram' Scam: Swindlers Start Forging Telegram Cryptocurrency
    Get Rich Quick: 5 Unusually Clever Ways to Earn Cryptocurrency (PHOTOS, VIDEOS)
    Major Cryptocurrency Exchange Platform Accused of Spam-Attack on Bitcoin
    Mine it to the Max! Chinese Crypto Miners Looking to Expand to Quebec
    Russia's Leading Bank Opens Blockchain Lab Amid Cryptocurrency Fever
    In For a Penny, In For a Gram: Telegram Poised to Launch Native Cryptocurrency
    Blockchain, blockchain technology, cryptocurrency, Dmitry Medvedev, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik