In Brief Russia has shown a great deal of interest in Ethereum-based blockchain technology. This could signal a move toward diversifying Russian interests with technology outside of fossil fuels. Russian Evolution
Youve likely heard of Bitcoin as the future of money, but it is not the only cryptocurrency in the running for cashless economy dominance. The second largest among them is found on the Ethereum blockchain and is called Ether. One of the critical differences between Bitcoin and Ether is that while Bitcoin is first and foremost a currency, Ether, however, can be a platform for a variety of decentralized applications. In short, Ether can do much more than Bitcoin.
The adaptive quality of the platform may be part of the reason why Russia, under President Vladimir Putin, seem to be showing great interest in Ethereum. Reporting from Bloomberg reveals that Putin has been thinking aboutdigital currency. The digital economy isnt a separate industry, its essentially the foundation for creating brand new business models, he said at last weeks St. Petersburg Economic Forum.
Russia could be looking at Ethereum as a way to expand the countrys economic profile of fossil fuels with technology. Bloombergs Leonid Bershidskysuggests that Putin is under the impression that, to wean the country off its oil dependence, they needed a major leap in some specific area of technology that wasnt yet dominated by Western, Chinese, or Japanese tech giants.
Russia is already testing an Ethereum-based blockchain system through its central bank. When Deputy Governor Olga Skorobogatova was asked if Russia is pursuing a national virtual currency, she did not deny the possibility. Currently, there are a few countries already experimenting with national cryptocurrencies.
Coindesk cites eight cryptocurrencies from a variety of countries in the Eurozone. Among them are Icelands Auroracoin, Pesetacoin and Spaincoin from Spain, Gaelcoin from Ireland, and Aphroditecoin from Cyprus. Cryptocurrenciesoffer a lot of benefits including both transparency and security. The level of encryption essentially makes counterfeit transactions impossible.
Russia is among the most powerful countries in the world. Adoption of this technology would be a major boon for the platform and could accelerate the expansionof its influenceacross the world.
Link:
Bitcoin's Rival Just Caught Russia's Attention - Futurism - Futurism
- Futurist Serata featuring artist Luca Buvoli at Brown (Nov. 20) - November 7th, 2009 [November 7th, 2009]
- FUTUR1SM00GGI - November 8th, 2009 [November 8th, 2009]
- ‘Futurism on Film’ Series this month in NYC - November 8th, 2009 [November 8th, 2009]
- Schedule of Futurist Events in NYC (PERFORMA 09: Nov 1-22) - November 8th, 2009 [November 8th, 2009]
- ‘Futurismo/Futurizm: The Futurist Avant-Garde in Italy and Russia’ (Nov. 13 + 14) - November 8th, 2009 [November 8th, 2009]
- ‘Beyond Futurism: F.T. Marinetti, Writer’ conference at Columbia (Nov. 12+13) - November 8th, 2009 [November 8th, 2009]
- Futurism and Cars at the Museo Nicolis - November 8th, 2009 [November 8th, 2009]
- MoMA Film Series Marks Centenary of Futurism with Films - November 8th, 2009 [November 8th, 2009]
- ‘Bergson+Futurism. Speed in thought’ - Madrid (Nov. 5) - November 8th, 2009 [November 8th, 2009]
- ‘The Future in Five Senses: Echoes of Italian Futurism in New York Architecture and Design’ Nov. 16th NYC - November 8th, 2009 [November 8th, 2009]
- New World-Wide Climate Treaty in 2010 More Likely - November 8th, 2009 [November 8th, 2009]
- Tar Sands CCS Myth Shattered - November 8th, 2009 [November 8th, 2009]
- Smart Grid and Smart Meters Get Big Grants - November 8th, 2009 [November 8th, 2009]
- Pollution Makes Methane Even More Dangerous - November 8th, 2009 [November 8th, 2009]
- Climate Change Bill Hearing Video - November 8th, 2009 [November 8th, 2009]
- New Satellite to Monitor Water and Plant Growth - November 8th, 2009 [November 8th, 2009]
- Spiritual Battle Awaits the Deniers and Skeptics - November 8th, 2009 [November 8th, 2009]
- Effects of Climate Change are Observed World-Wide - November 8th, 2009 [November 8th, 2009]
- Get Yer Global Warming Science Here - November 8th, 2009 [November 8th, 2009]
- TckTckTck Wake up Call — Delay Kills - November 8th, 2009 [November 8th, 2009]
- Canada’s Awful Gold Rush - November 8th, 2009 [November 8th, 2009]
- Climate Change Talks Spark Global Backlash by Businesses - November 8th, 2009 [November 8th, 2009]
- World May Need Extra Year for Climate Treaty - November 8th, 2009 [November 8th, 2009]
- Senator Boxer Moves Climate Bill Despite Republican Obstructionism - November 8th, 2009 [November 8th, 2009]
- Lights out for incandescent lights? - November 8th, 2009 [November 8th, 2009]
- Sutures from Bacteria - November 8th, 2009 [November 8th, 2009]
- Remote-Controlled Pigeons - November 8th, 2009 [November 8th, 2009]
- Apple Announces iPhone Release Date - November 8th, 2009 [November 8th, 2009]
- UK Government Envisions a Grim Future - November 8th, 2009 [November 8th, 2009]
- Top Ten Emerging Technologies for the Environment - November 8th, 2009 [November 8th, 2009]
- DIY Mobile Networks - November 8th, 2009 [November 8th, 2009]
- Stem-Cell Treatment Cures Type 1 Diabetes - November 8th, 2009 [November 8th, 2009]
- Is Tesla Getting the Electric Car Right? - November 8th, 2009 [November 8th, 2009]
- The Future of TV News - November 8th, 2009 [November 8th, 2009]
- Bruce Sterling on Earth-Friendly Pervasive Computing - November 8th, 2009 [November 8th, 2009]
- First Step Toward Organ Regeneration in Humans - November 8th, 2009 [November 8th, 2009]
- IBM's "Five in Five" - November 8th, 2009 [November 8th, 2009]
- Outsourced Journalism - November 8th, 2009 [November 8th, 2009]
- Is True Global Democracy the Next Great Political Movement? - November 8th, 2009 [November 8th, 2009]
- The Risks of Autonomous Robots - November 8th, 2009 [November 8th, 2009]
- Microsoft Introduces "Tabletop" PC - November 8th, 2009 [November 8th, 2009]
- Britain Piloting First Biofueled Train - November 8th, 2009 [November 8th, 2009]
- Self-Healing Plastic - November 8th, 2009 [November 8th, 2009]
- Bird Population Falls Over Past 40 Years - November 8th, 2009 [November 8th, 2009]
- The iPhone Revolution? - November 8th, 2009 [November 8th, 2009]
- The End of "Cheap Food"? - November 8th, 2009 [November 8th, 2009]
- How to Stop -- Or Live With -- Global Warming - November 8th, 2009 [November 8th, 2009]
- MIT Demonstrates "Wireless Electricity" - November 8th, 2009 [November 8th, 2009]
- Unintended Consequences of Biofuels - November 8th, 2009 [November 8th, 2009]
- Time to Focus on the Big Picture in Copenhagen - December 12th, 2009 [December 12th, 2009]
- Protests in Copenhagen - December 12th, 2009 [December 12th, 2009]
- Mario Guido Dal Monte exhibit - December 13th, 2009 [December 13th, 2009]
- Futurism News Bulletin, xvi - December 13th, 2009 [December 13th, 2009]
- Viva il Futurismo! (video trailer) - December 13th, 2009 [December 13th, 2009]
- 3 exhibits in Gorizia! - December 13th, 2009 [December 13th, 2009]
- Forthcoming: ‘Antidiets of the Avant-garde’ by Cecilia Novero - December 13th, 2009 [December 13th, 2009]
- Pubblicità e propaganda. Ceramica e grafica futuriste at the Wolfsoniana - December 13th, 2009 [December 13th, 2009]
- Balla’s home scheduled to open in 2010 - December 13th, 2009 [December 13th, 2009]
- Futurismo a Savona - December 13th, 2009 [December 13th, 2009]
- ‘Zang Sud Sud’, Cosenza - December 13th, 2009 [December 13th, 2009]
- Conference in Rome (Dec. 10) - December 13th, 2009 [December 13th, 2009]
- Climate Hackergate: A Well-Orchestrated Campaign of Harassment - December 13th, 2009 [December 13th, 2009]
- The Sad Story of Cap and Trade - December 13th, 2009 [December 13th, 2009]
- How to Waste Trillions on Capturing Carbon - December 13th, 2009 [December 13th, 2009]
- Smack the Email Hack Attack - December 13th, 2009 [December 13th, 2009]
- EPA About to Declare CO2 a Public Danger - December 13th, 2009 [December 13th, 2009]
- Copenhagen Summit Starts with Virtually There Media - December 13th, 2009 [December 13th, 2009]
- Climate Scientist Gets Blunt on Trading Scheme - December 13th, 2009 [December 13th, 2009]
- One Climate Change Editorial in 56 Newspapers, 45 Countries - December 13th, 2009 [December 13th, 2009]
- This Decade Will be Hottest Ever on Record - December 13th, 2009 [December 13th, 2009]
- Divide and Conquer - December 13th, 2009 [December 13th, 2009]
- Leave the Coal in the Hole! - December 13th, 2009 [December 13th, 2009]
- COP15: Two Agreements Coming - December 13th, 2009 [December 13th, 2009]
- Climate and Copenhagen News December 10 - December 13th, 2009 [December 13th, 2009]
- Sea Level Already Rising on Atlantic Coast - December 13th, 2009 [December 13th, 2009]
- ‘Umbria Veloce’ in Perugia - December 14th, 2009 [December 14th, 2009]
- An Instable CO2-Filled Ocean - December 14th, 2009 [December 14th, 2009]
- ‘Futurismi a Ravenna’ opens Dec. 19 - December 15th, 2009 [December 15th, 2009]
- ‘Futurism and the Technological Imagination’ – 30% discount until Jan. 15 - December 15th, 2009 [December 15th, 2009]
- Protecting Our Lungs at Copenhagen - December 15th, 2009 [December 15th, 2009]