Russian Minister of Economic Development: 5000 blockchain property deals a month in the near future

Minister of Economic Development of the Russian Federation Maxim Oreshkin has recently shared some new information regarding the upcoming system of property deals that is currently being built by Rosreestr, Russia’s state registry.

He is certain that 5000 property deals on this new platform every month is a reachable figure. Maxim Oreshkin has also pointed out that this technology has no equivalents in the world which is a common narrative of Russian officials when introducing innovations, be them blockchain-based or not.

As noted in Bitnewstoday’s older reports, Moscow authorities together with Rostelecom and Sberbank have also demonstrated interest towards blockchain-based property deals in the past.

In another story from the Russian capital, the local Arbitration Court has declared that the technology of cryptocurrency which makes it “appear in the informational telecom system” as a “certain character set” does not make it a good means of insolvency and thus is not subject to confiscation. One can read a separate report on the topic for more information on this atypical case.

The local legislation on cryptocurrency will be implemented in summer this year.

Image courtesy of Government.ru