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August 9, 2022
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In Russia, interest in the blockchain technology – – is declining

A new study by Dell Technologies showed that interest in blockchain technology in Russia is clearly declining. This is especially true of the corporate sector. Experts indicate, however, that this is the effect of market maturation.

Blockchain in Russia

According to Kommersant, the study was conducted by Dell Technologies and showed that Russian companies are less and less interested in blockchain. It is known that the survey covered as many as 200 entities from Russia. Their representatives were interviewed about the blockchain topic last year. Mostly companies in the technology, oil and gas, telecommunications, life sciences, healthcare, insurance and financial services sectors were asked for their opinion.

The study showed that the interest of Russian companies has dropped to levels three times lower than those recorded in 2018.

In a similar study conducted in 2018, as many as 30% of respondents from Russian companies announced that they already have plans to invest in blockchain technology, which will be implemented over the next three years. However, the new results showed something seemingly disturbing. That number has now fallen to just 9%.

On the other hand, Russian companies are more and more willing to come up with ideas to invest in other innovations of the digital age, including artificial intelligence algorithms, as well as commercial and industrial robotics.

However, the report also cited the opinions of experts who said that while blockchain may not be a good technology for everyone, some sectors are still very serious about this type of solution.

The document presents, inter alia, the opinion of the Russian ombudsman Dmitry Marinichov, who stated that “Accidental”, potential investors already “Dropped out” from the market and it has become clear that the technology is not applicable to all sectors.

Authorities and blockchain

In turn, the Russian government – very eager to implement pioneering projects such as blockchain-based parliamentary elections – also revised its 2019 plans. $ 207 million and only two-thirds of its value comes from the public purse, and the remainder is funded by “Extra-budgetary sources”.

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