Crimea Is Thinking About Blockchain Center For Unknown Foreign Investments to Stay Away Sanctions

A big Russian news agency known as TASS reported that Crimean officials are thinking about developing a blockchain-cluster that helps investment platforms enabling foreign investors to work in sanctioned countries unknowingly.

Before this week, the Permanent Representative of the Republic of Crimea under the President of the Russian Federation, Georgy Muradov, had already disclosed the Crimean government’s potential plans to create a separate blockchain-cluster in the area for venture capitalists funds.

Roman Kulachenko, the President of the Crimean Republican Association of Blockchain Technologies Investment, said that a new international education center for operating with blockchain technologies and also deterring themselves away from sanctions may be opened on the Crimean peninsula.

As indicated by Kalachenko, the educational center would allow for the training of specialists from different nations under sanctions in blockchain technology. He included:

“There are a number of states that, like the Crimea, that are under sanctions — for example, South Ossetia and Abkhazia. We have the same problems. And the center will allow us to combine efforts and solve the problem.”

A few months ago, North Korea was allegedly using cryptocurrencies to stay away sanctions imposed `by the US, even though present limitations imposed on fiat assets, cointelegraph reported September 26th.