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“A significant factor in development is, of course, new technologies,” said Russian Prime Minister Dmitry Medvedev, speaking at the plenary session of the Financial System of a Competitive Economy in the 21st Century: Challenges and Solutions forum.
“Quite recently, we adopted the Digital Economy programme that covers all spheres of life. We are planning to discuss this programme in the near future during the Open Innovations forum in October at Skolkovo. I invite all those who are interested to take part in the forum.
“But it should be understood that digital technology, both in our country and abroad, is not only an enormous breakthrough, it also brings a set of challenges, and that is clearly visible if we take the financial sector as an example. On the one hand, distributed ledger technology (blockchain) – both crypto-currencies and so-called smart contracts – increase market possibilities. On the other hand, the absence of general rules for the application of these instruments creates threats for the markets. The major global banks, therefore, are now agreeing on joint work in this sphere. The Russian banking community is also beginning to develop their approaches,” said the prime minister.