The Russian FinTech Association in association with Trescon is gearing up to digitize their economy with the advent of blockchain technology.
06 March 2018, Moscow: Russia has decided to take a definitive stance on blockchain technology by implanting its first few steps on unfamiliar soil, as the Russian FinTech Association (RFTA) gears up to unveil its latest trends and advances in ledger based technology for financial solutions, at the World Blockchain Summit being held in the nation’s capital of Moscow on 26 – 27 April 2018. The event is being conducted by Trescon in association with the Russian FinTech Association.
The FinTech Association has been knee-deep in research on blockchain technology these last few years and is finally coming out to declare their strides and advancements. The technology is set to automate and decentralize the entire banking sector of the country!
The association is trying to establish itself as a frontrunner for blockchain technology in the continent by planning, researching, designing and implementing new technological solutions to support the development of the Russian financial market.
Sergey Solonin, CEO of the Russian Fintech Association (RFTA), has come forward to say that “The financial system governs the entire market and productivity of a particular nation. We aim to boost the efficiency of our national resources by decentralizing the entire financial solutions and services sector through the systematic and schematic implementation of blockchain technology. We are leaving no stone unturned by devoting our attention to the retail payment-space sector as well”.
The RFTA is targeting the summit to garner awareness on the technology because of the stop-block which has arisen. The visible absence of regulatory trading laws and authorization boards has created an atmosphere of fear amongst traders and investors, which is proving detrimental to the entire blockchain industry.
Apart from the positive impact of the ledger based technology, the Global FinTech initiative in Russia is also exploring the cons to the implementation of blockchain technology, especially in the financial services industry. Problems such as integration with the human workforce as well the depletion in the requirement for human labour resulting in layoffs are certain situations the FinTech Association is debating about presently.
The summit will also showcase various other innovations and products from exhibitors and startups in a bid to gain support for their organization. The world of blockchain technology has grown into a multi-billion dollar enigma which is changing the way governments and organizations function, forever!
Other notable speakers of the summit include Artem Koltsov, Head of the Expert Council on Digital Economy and Blockchain Technology for the State Duma of the Russian Federation; Pripachkin Yuri Igorevich, President of the Russian Association for Cryptocurrency and Blockchain (RACIB); Maxim Chereshnev, International Secretary for the International Decentralized Association for Cryptocurrency and Blockchain (IDACB); German Klimenko, Presidential Advisor for Internet Adoption amongst other reputed speakers and leaders.
Mohammed Saleem, CEO of Trescon stated that the global market cap for blockchain technology is projected to hit the 1 trillion USD mark within the next three years. “We feel we need to put our best foot forward. The World Blockchain Summit Series is designed to gain awareness and support on this relatively new technology which is in the incubation stage, ready to flourish into a ‘New World Order’. So Trescon is planning an expansive network of series across the globe in nations like Brazil, Germany, India, Singapore, Malaysia and even Kenya”, he added.
To know more about the summit,
About Russian Fintech Association:
The primary goal of the Russian Fintech Association is draft regulatory initiatives, develop standards, and implement pilot projects that focus on identification, authentication and digital identity management to promote the digitalization of the Russian economy. The association’s other objectives also include exploring promising technologies like blockchain, open application program interface and remote identification technologies.
Trescon is a global business events and consulting firm that provides wide range of business services to a diversified client base that includes corporations, governments and individuals. Trescon is specialized in producing highly focused B2B events that connect businesses with opportunities through conferences, road shows, expos, demand generation, investor connect and consulting services.
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