DSS ASIA Potential 

DSS ASIA POTENTIAL

RUSSIA PRESIDENT VLADIMIR PUTIN ENDORSES BLOCKCHAIN: RUSSIA CAN’T BE ‘LATE IN THE RACE’

MALAYSIA PRIME MINISTER DR. MAHATHIR MOHAMAD ENDORSES BLOCKCHAIN: “ADOPTING BLOCKCHAIN TECHNOLOGY FROM THE LIKES OF CHINA AND JAPAN IS CRUCIAL TO ACHIEVING THE ECONOMIC REFORM”

 

Russian Federation President Vladimir Putin endorsed blockchain technology during a meeting with Herman Gref, the president of Sberbank, Russia’s largest bank. Gref, who said his bank would implement blockchain into its business, suggested to Putin that the Russian government should include blockchain technology in education and professional training. Blockchain technology is one of the key components of cryptocurrency networks such as Bitcoin and Ethereum. “We need professionals in this field,” he said.

The Russian government has been experimenting with blockchain technology. Moscow is testing a blockchain voting system based on Ethereum for its Active Citizen platform. And the regional government of Kalingrad is piloting a blockchain payment system.

Whereby in Asia, Dr Mahathir had put forward the idea of a common East Asian Digital Currency (blockchain based) and that it had been an idea that he had been mulling over for a long time. The currency however would only be for trading purposes and not for domestic use during the ASEAN Plus Three (China, Japan and South Korea) Summit.

Various central banks around the world are seriously considering the idea of having cryptocurrency, including Canada, China, Sweden, and Uruguay.

According the Dr Mahathir, cryptocurrency is definitely within the Malaysian government’s radar. Q3-2019, Bank Negara Malaysia (BNM) finalised its guidelines, which outlined the guidelines for cryptocurrency exchanges. At least nine exchanges have registered.