Russian businesses could harness the power of technology developed for cryptocurrency bitcoin to avoid being subject to Western sanctions, a prominent Russian lawmaker claimed.
Blockchain is the ledger behind Bitcoin and it effectively allows for the transfer of information online, ensuring that two copies of it were not made. Andrei Lugovoi, member of parliament for Russia’s nationalist LDPR party, now believes blockchain should be used by Russians who want to dodge U.S. and EU sanctions.
Several Russian businesses and individuals perceived as close to Russian President Vladimir Putin are under U.S. and EU trade sanctions, as punishment for Putin’s decision to annex …read more
Source: Newsweek
