Blockchain Life 2021 took place in Moscow

25.04.2021 |

On April 21 and 22 the sixth international forum Blockchain Life 2021 took place in Moscow. More than 5 000 people attended the event. Among other things, the speakers of the meeting talked about new directions in mining and new directions in the development of cryptocurrencies.

Issues of currently popular systems of decentralized finance and non-interchangeable tokens were actively discussed. Separate topics were devoted to effective trading on online exchanges and the introduction of innovative blockchain technology in business, not directly related to the financial sector.

The report by Oleg Abdrashitov, head of Sber’s blockchain development laboratory, attracted a lot of interest. He talked about the corporation’s plans to create a single blockchain-based platform, allowing to create tokenized monetary liabilities to clients of different banks. Simply put, a customer’s monetary obligation is a token that specifies the amount of money in the account and the person, in this case the bank, who has the obligation to issue the money at the request of the holder of the digital asset. The transfer from one bank to another will be done by transferring the token, i.e. overwriting the information of the person in charge.

The speech of Alexey Minaev, Deputy Director, Department of Digital Economy Development, contained information about the regulation of the cryptocurrency sector. The Ministry of Economic Development of the Russian Federation is sure that digital assets are already a de facto reality, in which a lot of money has been invested, which means that the industry requires clear regulation. Meanwhile, the law On DFA, at present, is a compromise between the agencies concerned, the regulator and the community. New legislative initiatives in the field of digital financial assets are being developed in close cooperation of many parties, and it will have to meet the demands of business and accelerate the development of the new industry.

There was also talk about mining. So it is assumed that already in 2022 small companies will not be able to withstand the competition and will either close or expand to larger sizes. The representative of Bitmain in the CIS Khamrayev told about new models of ASIC devices for bitcoin and ethereum mining.