German Klimenko was appointed Advisor on the Internet to the President of Russia on 4 January. In his first interview for the Russian media he expressed a positive view on the new internet technologies and their integration with the country’s economics and financial system.

Mr Klimenko promised that the use of new media technologies in finance will increase the positive development in the industry and will stimulate the growth of the national budget and gross national product.

“There are examples of this in the world, and here in Russia,” he said. “Internet technologies provide economics with maximum of labour effectiveness and financial transparency, increasing dramatically the capitalization of companies.”

Klimenko admitted to having compared the role of internet technologies in economics with new oil in a talk with President Vladimir Putin.

When asked about new financial instruments and electronic rouble, Klimenko denied any plans involving the digital currency bitcoin. He explained that the state cannot let on its territory a currency emitted “by whomever.” At the same time, however, his programme of integration of economics with internet technologies includes cashless payments.

“Everything bought and sold on the internet is now operating – to be legally accurate – through the electronic rouble. We pay cashless and we are happy with that, there are no alternative plans like bitcoin,” he said.

German Klimenko is a well-known figure on the IT market. He is the director and owner of the LiveInternet company and the news aggregator MediaMetrics. He is also the creator of the website catalogue List.ru, TopList and other influential projects. In February 2015 he became director of the Institute of the Internet Development.

Sonya Belova