Earlier this year, Vitalik Buterin attended the Economic Forum in St. Petersburg Russia and in attendance was the Russian President himself, Vladimir Putin.
According to Bloomberg, Buterin met with the Russian President on the sidelines and supported his plans to build contacts with local partners to implement blockchain technology in Russia.
Buterin later posted on Reddit that the conversation wasn’t recorded and that it was private. However, the Ethereum creator recently has form a collaborate agreement with Russia State-owned bank Vnesheconombank (VEB).
According to Coindesk, the new entity is founded to support the bank under the name Ethereum Russia. The CEO of Ethereum Russia was quoted:
The difference between Ethereum Russia and Ethereum Foundation is that while the Foundation must be left “pure” and free from conflicts of interest, other variations can collaborate with government and corporate bodies.
Putin aide to raise $100 million to challenge China in Bitcoin mining
Russian Miner Coin will be launching an ICO to raise $100 million dollars which will be taking advantage of Russia’s 20 gigawatt power capacity which is less than in China. The mining company is co-owned by one of President Vladimir Putin’s internet advisers.
The CEO said that Russia has the potential to reach up to 30 percent share in global cryptocurrency mining in the future.