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Rostec estimates the development of the blockchain in Russia at RUB10 billion
CONTENT

  • Rostec expects a jump in the growth of the blockchain industry in the Russian Federation

  • RACIB doubts the announced terms for the training of blockchain specialists

  • The Deputy Prime Minister of the Russian Federation did not find a financial and economic justification for the costs

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The government commission has approved Rostec’s road maps for the development of distributed registry technology in Russia until 2024

The Government Commission of the Russian Federation on Digital Development has agreed with Rostec the billions in expenditures for the development of the blockchain in Russia until 2024. Writes about this “Kommersant”, citing a source close to the situation.

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However, according to the source of the publication, the “road map” was approved by the law committee only on condition of its mandatory revision. In particular, Dmitry Chernyshenko, Deputy Prime Minister of the Russian Federation, drew attention to the lack of financial and economic justification for the costs proposed by Rostec.

Blockchain by leaps and bounds

It is reported that Rostec proposes to allocate ₽10.1 billion to the development of the blockchain, of which ₽5.6 billion will be off-budget. At the same time, an anonymous source noted that most of the solutions proposed by Rostec already have working analogues.

“… A significant part of the solutions that Rostec proposes to develop are already on the market and do not require duplication,” the source said..

With the help of the announced budget, Rostec expects that the revenue of local blockchain developers from sales of decentralized technologies in the domestic market will be up to RUB 83.7 billion, and in external market up to RUB 17.3 billion by 2024.

Deadline gaps

However, the Deputy Prime Minister of the Russian Federation was not the only one who was skeptical about Rostec’s roadmap. A similar attitude to the plans of Rostec was also demonstrated in the Russian Association of Cryptocurrencies and Blockchain (RAKIB).

Rostec estimates the development of the blockchain in Russia at RUB10 billion

According to representatives of RACIB, the terms for training personnel in the blockchain industry announced by Rostec raise questions. 

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The state corporation expects that by 2022 there will be 100 masters in blockchain. RACIB doubts such numbers, because even if their training began in 2020, it will take at least five years to study.

“Russia will never take leading positions in international ratings on distributed registry technologies”, – noted in RACIB.

We will remind, earlier in “Rostec” calculated that in Russia the number of companies using distributed ledger technologies will increase from less than 1% in 2019.

Rostec estimates the development of the blockchain in Russia at RUB10 billion

up to 30% already in 2030.

Rostec estimates the development of the blockchain in Russia at RUB10 billion

At the same time, the total share of the Russian market of blockchain technologies in the global arena will increase from 2% in 2019..

Rostec estimates the development of the blockchain in Russia at RUB10 billion

up to 8% in 2030.

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