The VEB blockchain competence center together with international partners announced the opening of a legal laboratory of legal practice. Its goal will be the formation of a global expert community that can develop a unified approach to the regulation of new financial technologies, including blockchain technology, and will also offer a consolidated position on a number of issues of global digital law.
An important direction of legal lab will also be legal advice to Russian companies with blockchain technologies for their integration into the most loyal jurisdictional of crypto-economics.
“Today, Russia is interesting to the world community as a country that actively supports the development of crypto technologies, but there is a general trend in the world as the technology has clearly rested against the wall of unprepared regulators, and all projects that try to squeeze themselves into the habitual way of our processes use the opportunities offered by blockchain by a couple of percent, not more. We decided to convene practicing lawyers and technologists on the same site and find out, so to speak, on the “Hamburg account”, what needs to be done for real changes,” said the Chairman of the Board of the Blockchain Center in Kryptosreda, VEB’s advisor, adviser to Vnesheconombank Chairman Vladimir Demin.
Among the tasks of Vnesheconombank, as a development institution, is the construction of a digital platform for the Russian economy of the future, the key elements of which will be breakthrough technologies. According to Vnesheconombank Chairman Sergey Gorkov, today it is strategically important to develop key technological areas where Russia can achieve world leadership.
These include blockchain, quantum and convergent technologies. To actively introduce new technologies, VEB creates centers of competence in Russia. The VEB blockchain-competence center was opened in 2017 as part of the Bank’s development strategy to support Russian innovative technologies. Opening of two more centers on quantum and convergent technologies is planned for 2018.
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.