Russia – Farmer’s Crypto Going robust as principal bank checks ICO

Russia – Farmer’s Crypto Going robust as principal bank checks ICO

A cryptocurrency developed by a farmer in the remote Russian village of Kolionovo is showing no sign of losing steam, reports Japanese media outlet Nikkei.

Nikkei interviewed former banker Mikhail Shlyapnikov, the mastermind behind the Kolion token, three months after the village’s story was featured on American TV channel CNN.

Shlyapnikov says that the token has some 800 traders “from all around the world,” with some one hundred fifty “active” international traders. Kolionovo, placed 130km from the capital, within the Moscow Oblast, has a populace of simply 10 residentsbutfinal yr the village’s ICO garnered BTC 401 (USD 500,000 at the time), and noticed 1 million Kolion tokens issued to 103 contributors of its preliminary coin presenting (ICO).

Nikkei charges Shlyapnikov as saying, “i am aware that i am running in an financial grey zone.” but, he added, “There are not any excessive hobby rates to deal with, and no corruption or American financial sanctions to fear approximately. I simply want to live in peace. I’m no longer trying to offer relief to the Russian economy or overthrow the authorities.”

Shlyapnikov advised Nikkei that a quest to difficulty his personal paper foreign money – and consequently obtaineconomic independence from the authorities and main banks – eventually led him to the world of cryptocurrencies. He eventually determined to release ICO in September remaining 12 monthsin conjunction with different Kolionovo citizens.

Meanwhile, the Russian central bank last week tested an ICO of its own in an experimental sandbox environment. The bank has claimed its test was “successful” – but stated that legal hitches may hamper further efforts.

Russian information enterprise Tass charges Ivan Semagin, the important financial institution’s Deputy Head of financialmarketplace strategy, as saying, “We performed an ICO the usage of existing infrastructure. Technically, the whole lot went nicelyhowever there had been a number of troubles from a prison point of view.”

As reported last week on Cryptosyringe.com, Russia’s parliament is set to hold a second hearing for a long-awaited package of cryptocurrency-specific bills in October.

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