Dmitry Potapenko: if Western companies become forbidden in Russia because of cryptocurrency and blockchain, they’ll do without this country pretty well

The first day of the Blockchain Conference Russia 2018 summit has ended. Among other guests, a speech was held by Dmitry Potapenko, Management Development Group Inc head and one of the first Russian entrepreneurs since Soviet times.

A reporter from Bitnewstoday has asked Dmitry Potapenko on the possibility of the Russian ban of major foreign companies in case they start to use their own brand cryptocurrencies. The entrepreneur responded (Bitnewstoday is in possession of an audio recording):

“Concerning the ban of corporations and their work on the blockchain: they will do without the Russian market pretty well due to the fact that it’s extremely small for them.”

After implying that the foreign business is going to have to negotiate with the state, Potapenko has continued:

“Officials will turn a blind eye on something that… in short, there will be an engagement, but it will be small.”

Therefore, the businessman does not exclude that in some cases, the Russian authorities and large foreign businesses would be able to reach a consensus about the use of cryptocurrency on the Russian territory, but such occasions would be rare. Furthermore, Dmitry Potapenko has reminded about the share of Russia, the United States, the European Union and China in the world’s GDP (1.7%, 22%, 24% and 18%, respectively), while also sarcastically noting that the Russian civil servants cannot even come up with a sensible idea of a tangible response to the recent sanctions imposed by “damn Yankees”.

Image: status-media.com