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Russian laws should not impede the development of big data, e-commerce and a distributed register in the country, President Vladimir Putin believes. He said this, speaking with a message to the Federal Assembly, the broadcast was conducted on the website of the First Channel.

 

“We need to create our own digital platforms that are naturally compatible with the global information space. This will allow to organize production processes and financial and biological services in a new way. Including using distributed registry technology, which is very important for financial transactions”

 

“In the near future, we need to create an advanced legislative framework, remove all barriers from the development and widespread use of robotics, artificial intelligence, and unmanned transport,” the head of state said.

 

Crypto-currencies in Russia are not regulated, and at the end of January, the Ministry of Finance introduced a bill in which it refused to consider it a legitimate means of payment. The draft law does not provide for the prohibition of digital currencies or mining.

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In October 2017, Putin said that cryptocurrencies represent a potential danger as a way of money laundering and tax evasion.

 

Though the crypto market is still relatively new and lacks many of the traditional institutions of a civilized market, there are projects on the market that seek to indemnify or mitigate the associated risks that investors take when deciding to invest in projects. Cryptics is one such project that seeks to offer the necessary instruments for alleviating the situation with uncertainty. The concept behind it is to support market participants by providing liquidity on exchanges and a safety cushion for retail investors by creating a platform that connects market players and develops algorithms to predict changes in the value of cryptocurrencies. Such instruments based on highly advanced scoring models involving machine learning and AI are incomparable with human intuition that even the luckiest and most prudent investors could ever be endowed with. The multitude of factors involved in predicting a cryptocurrency’s rise or fall are all taken into account by the algorithms that Cryptics employs. Investors should consult such projects as the expense is well worth the ensured profit and peace of mind.

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