Rostec To Cut Funding for Blockchain Development in Russia
According to the new Rostec roadmap, 28.4 billion rubles will be allocated for the development of blockchain technology in the Russian Federation until 2024. This budget has significantly reduced, as the previous budget was 85 billion rubles. It is important to understand that only 9.5 billion rubles out of the new amount will be allocated from the country's budget, the remaining 18.9 billion will be extrabudgetary. According to preliminary estimates, 650 million rubles will be spent on the implementation of distributed register technology in the product labeling system, 1.17 billion in the healthcare sector, 475 million in the housing sector. Rostec has not yet decided on the companies responsible for implementing the blockchain in various areas of life, but MegaFon representatives have already announced their readiness to participate in this initiative. Rostec specialists calculated that blockchain could bring an additional 0.6 trillion rubles to the budget. Earlier we wrote that the head of the Central Bank of Russia confirmed the interest of the state in stablecoins. To keep up with the latest news in the world of cryptocurrencies and the blockchain industry, check out updates on TheCoinShark.