The head of Russia’s largest bank, Sberbank, has warned that Russia risks falling behind in technological innovation if it bans virtual currencies and their underlying blockchain technology.
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Gov’t Should ‘Not Get in the Way’
It is “critically important” for the government to not get in the way of groundbreaking technologies, according to Sberbank CEO, Herman Gref, reports Tass. Otherwise, the country’s tech sector risks falling behind other nations.
“In my view, it is critically important to determine the role and position of the government, and even better to stimulate instead of prohibit the development of groundbreaking technologies, namely the blockchain,” the CEO stated at the recently-held Moscow Financial Forum.