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Russia’s Nuclear Energy Sector Latest To Show Interest In Blockchain

Despite the good news for the crypto sector, many are disappointed that the country is lagging behind in terms of regulations. 


 

Blockchain Sorted After By Russia’s Energy Sector

The uptake of blockchain technology in different sectors is on the rise. At the moment, Russia’s nuclear energy sector seeks to follow suit. The corporation in charge of producing nuclear energy has revealed that it will set up a blockchain technology for efficiency.

The announcement was made on Monday by the corporation head of IT Evgeniy Abakumov. He said that their focus is now on advanced technologies.

According to Abakumov, the sector plans to work on three major areas. Developers will focus on the blockchain, AI and Internet of Things. He noted that their commitment is towards rolling out the 4.0 technologies on a large scale. The technologies will be rolled out to enhance efficiency at the manufacturing stage.

He added that the nuclear department seeks to recruit the best talent to spearhead the initiative. The announcement should not come as surprise because a majority of government institutions in Russia have shown interest in integrating crypto systems into their operations. Generally, the sector has been lauded as a key component of enhancing efficiency.

At the moment, Russia's biggest government pension fund is scheduled to use blockchain in labour. The integration is set to happen during the summer.

Russia Slowed Cryptocurrency Sector Regulations

Other reports from Russia indicate that the country’s body of industrialists and entrepreneurs participated in a meeting aimed at releasing a bill in regards to cryptocurrency regulations in the country. The body is made up of individuals on the Forbes list. The meeting took place in late September.

At the moment, the country has drafted a number cryptocurrency regulations awaiting approval by lawmakers. The bills have been in parliament since January this year. Due to the delay, a number of market key players have expressed their displeasure at the slow pace.


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