AMAF: the blockchain and cryptocurrency will allow the Crimea to bypass sanctions

Circumvention of sanctions against the Crimea with the technology of the blockchain and creating a cryptocurrency investment Fund on the Peninsula will be discussed at the Yalta international economic forum (AMEF), which will take place from 19 to 21 April. About this informed the Deputy Chairman of the Council of Ministers of the Republic of Crimea, Georgy Muradov, during the press-conference in Simferopol.

According to the official, the traditional methods of economic development in Crimea are not working, so you need to look for new options.

«They are sometimes confused by our opponents who act dray way,» he said.

Muradov said that the theme of the blockchain and cryptocurrency to be discussed in a separate session of the forum called «Crypto-Crimea».

«The banks working in the Crimea in a very limited scale, many large corporations still do not go. The blockchain is a care, in General, from the banking system, settlement, and recording of assets. Is a distributed database transaction that does not use Bank accounts. Cryptocurrency is a way of avoiding payments in U.S. dollars, Euro, from foreign exchange restrictions in respect of Crimea», – said Muradov.

According to the Ambassador, the establishment in the Crimea of the cryptocurrency investment Fund will accumulate cryptocurrency resources, translate them into cash and use for the realization of different investment projects on the Peninsula.

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