Tag: russia

Russian wheat shipped to Turkey for Bitcoin

History is being made, as the first major commodity deal is settled with Bitcoin. Last month, a cargo ship carried 3,000 tons of wheat from Rostov-on-Don, Russia to Samsun, Turkey. The company behind the deal, Prime Shipping Foundation, is testing a blockchain settlement system for commodities. CEO Ivan Vikulov promises immediate processing of payments and safety of transactions. “We are trying to develop a cross-border payment system that’s easier and faster than what’s available now,” Vikulov said. “As far as we know, this is the first freight deal done in a cryptocurrency.” Prime Shipping Foundation is currently applying for...

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Digital Gold for Black Gold — Oil Rich Nations Eye Crypto-Alternatives to the US Dollar

The growing popularity of cryptocurrencies may erode the dollar’s dominance. Western financial institutions, have dictated global commodities trade for decades. But now, many isolated nations are looking for alternatives. Digital currency may just be their solution. Crude Tactics The best example of this phenomenon — crude oil — is bought and sold in US dollars. This automatically links the oil market with US policy. Western powers have imposed sanctions on wayward, oil-rich countries making it difficult for them to trade in raw materials. Venezuela, Iran and Russia are most affected by Western economic pressure. Following Venezuela’s model, Russia and...

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Russia will not legalise Bitcoin – another announcement with an unclear position of Russia

On 20th November the Russian Minister of Communications and Mass Media, Nikolai Nikiforov, announced that he believes that Russia will probably not legalize Bitcoin. “Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation. However, I think that it is quite possible to use blockchain technology and the use of various digital tokens” “I think we should go ahead from the technological viewpoint, providing such instruments. It is hardly possible to get anything via restrictions amid digital economic development.”,  said Nikiforov, adding...

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Bitcoin vodka? Only in Russia!

Russian entrepreneur Dmitry Troitsky plans to create a new brand of liquors, with names inspired by major cryptocurrencies. Where the idea comes from? Bitcoin vodka, Ethereum vodka, Ethereum vodka Classic Dmitry Troitsky with his HQ in Ekaterinburg dreams about high-quality vodka, named after Bitcoin. The entrepreneur has already filed for a trademark protection for his first three products: Bitcoin vodka, Ethereum vodka, and Ethereum Classic vodka. Troitsky knows that current Russian government approach towards crypto is hostile, but fortunately, public opinion is completely different. He is fully assured that Russians will love the idea of “cryptovodka”. Grand premiere! Troitsky during...

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It’s official: Russia regulates ICOs and cryptocurrency mining

That was expected to happen sooner or later: Russia regulates cryptocurrencies and mining. As reported by the Russian media RNS, President Vladimir Putin has signed the bill on ICO regulation and cryptocurrency mining. Kremlin’s press service formally announced the news on Tuesday, explaining that ICO regulatory status will be similar to Russian regulation of IPOs. Apart from that, the government is able to and will start working on legally defining terms connected with digital currencies such as ‘cryptocurrency’, ‘token’, ‘smart contract’ and so on. At the same time, the status of the cryptocurrencies will be determined based on the ruble...

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