The Ministry of Finance proposed to allocate 349 million rubles for the development of blockchain in Russia

Inside The Cryptocurrency Revolution

The Ministry of Finance of Russia plans to allocate 349 million rubles for the development of the blockchain in the next three years.

Under the national program «Digital economy» government will finance organizations engaged in the development of software based on distributed ledger technologies for processing and storing data by state information systems. Facilities plan to allocate in stages: 199 million rubles. in 2020 and another 150 million in 2021. 

At the moment, the draft budget is on stage of agreement. The blockchain law is also being revised..

Within the framework of the program, in three years the government plans to provide subsidies for 389.9 million rubles, and according to the calculations of the Ministry of Telecom and Mass Communications the project «Digital economy» will require an investment of 2.8 trillion rubles. until 2024.

text: Ivan Malichenko, photo: journal.ib-bank

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