Russian Federation RACIB plans Bitcoin Formula

The Russian Crypto and Blockchain Association RACIB is planning a crypto park in the Russian special economic zone Stupino. The large-scale project will make it easier for companies and start-ups to publish new crypto currencies (ICOs) and offer developers an attractive programming environment. Worldwide, several model projects in a similar form are already attracting industry companies to their latitudes.

Stupino is already one of Russia’s most important Bitcoin formula hubs

All kinds of private Bitcoin formula investors have settled in the special Bitcoin formula economic zone. Start-ups and newcomers benefit from the infrastructure and preferential conditions for licenses and permits. If the RACIB is to be followed, crypto and blockchain companies will now also follow and pitch their tents here. The Russian news portal Cryptorussia reports on the association’s plans this week.

Although the RACIB website still lacks concrete information, Cryptorussia says that the aim of the project is to order the environment for ICO fundraising, blockchain software and app developers with the help of the Russian blockchain platform Universa. In this way, the association wants to create incentives for companies and attract founders to the Moscow suburb.

In addition to synergy and inspiration, however, the crypto park also focuses on a further incentive. In particular, the industry’s expenditure is to be kept low. This should lead already established, specialized companies from Moscow to Stupino.

“We are planning our crypto park in a special economic zone. This will allow us to make use of the expertise of specialists from Moscow. The comprehensive platform for ICO fundraising will be the most effective way to model a future digital economy from crypto ruble and blockchain taxation,

Zamir Akimov, RACIB Vice President, describes the project according to Cryptovest.

Stupino, however, is supposed to attract newcomers to the company, especially due to the fact that the overall project follows the new guidelines of the Russian Ministry of Communications. These were made public last week. Among other things, they stipulate the use of the rouble for the successful accreditation of ICOs. As part of a larger legislative package to regulate crypto currencies, they are to be passed by the Russian State Duma by July.

Worldwide sponsors set the example

The model of the project is likely to be the worldwide budding bait attempts for crypto- and blockchain companies.

The Swiss canton of Zug, known as “Krypto-Valley”, for example, is now known throughout Europe and has become a sought-after location for Fintech companies. The Krypto Valley Association, among others, is based here. With the support of the Federal Council, it pursues the goal of establishing a globally leading blockchain ecosystem in Switzerland.

Neighbour Liechtenstein has similar plans. As has been known since last week, the dwarf state is also planning new incentives for Blockchain companies. For example, Liechtenstein wants to regulate companies as little as possible and thus direct more economic power into the Alps.

After all, the model is also making fashionable outside Europe. The Indian state of Andhra Pradesh, for example, is promoting the settlement of blockchain developers and the use of published software in public space, for example in land surveying, as part of the Fintech Valley Vizag initiative.

All in all, Stupino will probably not lack best practices and benchmark orientation.