German Klimenko Interview Regarding Detachment and Internet

Why does the government accept the idea of ​​blockchain, but is negative about cryptocurrencies? How is it possibile to resolve this contradiction and when can it happen? For example, the Head of the Central Bank, Elvira Nabiullina, says that the agency will not allow the use of cryptocurrency in the territory of Russia.

This is the competence from the Head of the Central Bank, which she is right in her own way.

The Ministry of Economic Development says that they will support the development of the detachment.

Do you see a contradiction here?

Cryptocurrency is the basis of the blockchain and the blockchain account is the basis of the cryptocurrency.

Blockchain is a common technology. The requirement to legalize the blockchain sounds the same as the requirement to legalize the C ++ programming language. You cannot legalize technology – it either exists or not.

In general, cryptocurrency is just anonymous wallets. There is WebMoney, which for me, is not much different from Bitcoin in terms of the user. WebMoney implements the same encryption, the same principle of secrecy, except that they have a client – a server solution, and in the case of blockchain, this solution is distributed.

ICO, however, is not tied to the topic at all – neither to the blockchain nor to the cryptocurrency, because it is in itself.

The officials have no complaints about the blockchain. On the other side is cryptocurrencies. We must understand that the most heated disputes occur between those who do not understand anything in the subject. What does it mean to recognize Bitcoin as a means of payment? This means writing in the civil code that in the territory of the Russian Federation, you can use Bitcoin the same way as rubles.

Now the logical question arises: why is there an exception for Bitcoin? Why do not want to accept tugriks and other currencies at the cashier desk? The answer is known: when Bitcoin begins to be used, demand appears.

There is one phenomenon that seems interesting to me: ICO or crowdinvesting. You can remember Kickstarter: the platform that appeared because of the fact that everywhere in the world it was difficult to attract money to small businesses due to financial regulation. The monopoly of financing was taken by banks,  while private individuals were not entrusted.

The history with collective investments has the right to life from the point of view of small business needs. However, regulation is required: you cannot demand more than $200 thousand from a person without sucking the life out of them. It turns out to be a beautiful story: the state assures that people will not sell their kidneys for participation in the ICO!

This story has a right to exist, and I hope that I will be able to repeat the experience, as we did with telemedicine: to gather a bunch of interesting people.

Which state structures are ready to move to blockchain? Where is it required?

Why didn’t any of the commercial enterprises known to us switch to blockchain? Because it’s expensive. We admit that the country is always slower than business, but in business, I do not see any examples of its implementation, except for the abstract cryptocurrency, which works on the ICO.

There is also the theme of using blockchain in power engineering – an infinite number of management companies consider electricity. I called a couple of them with a question, whether they want to use the detachment, and I will not quote what they told me.

What about mining? What is your attitude and profit?

I’m not a miner. I have 400 kW at the country house, but not like Solovyov does. In Tula, a connection to electricity is very cheap. Theoretically it is possible to mine there, but I did not try.

Mining is the dream of millions: do nothing and get paid for it.

The fact is that there are no freebies. In order to introduce mining in the legal field, it is necessary to first enter cryptocurrency there.

There was a huge number of people who call themselves experts on the blockchain. They regularly hold events with a fabulous participation cost. How many of them really can be considered experts?

Now the same thing happens as 20 years ago, when the Internet appeared in Russia. There were a few people who knew about the Internet. Artemiy Lebedev bought the domains, Arkadiy Volozh created “Yandex”, and when we met, we had nowhere to talk.

Now the same story: people have discovered blockchain and cryptocurrencies, but with whom to talk? There is no one around them, so they come to the conference.

The main task that I will be engaged in is trying to collect all the lawyers who more or less understand what they are talking about, in order to form legal tasks for legalizing the ICO. I think we will publish a request to the community, in five or six days, we will publish a draft law on “alternative collective investments”.

We have “adjusted” the investment opportunity. We earn money to invest it somewhere, but we are deprived of common sense – we can not voluntarily come and invest in shares in a simplified form. If people live in Kamchatka, why they cannot invest $300 in a Moscow restaurant?

We have a huge layer of tasks, and I imagine dozens of developers who come out as an independent team, who advertise, and attract money. Somewhere they work well, somewhere not. For this, the main thing is to create a very easy “input” and an easy “exit”.

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