LOS ANGELES, CA--(Marketwired - Apr 29, 2016) - US blockchain startup, NextTech, will travel to Moscow next month after receiving an official invitation from the Russian government to give a presentation on cryptocurrencies and the technology underpinning the digital payment system, the blockchain.

NextTech, an LA startup with offices in Austin and Houston, is Chaired by Lee Caplin, President of telecommunications provider Picture Entertainment Corp, and pioneer in voice encryption technology, "We are offering a special blend of hardware and fintech services to provide a digital financial ecosystem with enhanced efficiencies using blockchain technology."

According to Scott Akers, CEO of Next Tech, "The team will be joined by representatives of the executive branch of Russian government, members of the Central Bank of the Russian Federation, prominent business owners and leading Russian scientists to explore possibilities of Blockchain Technology," outlined by an official letter received by the company earlier this week.

Andrey Yalanuzyan, CEO of NextTech Russia and counterpart to Akers' US operations, says, "NextTech, is one of the most advanced and up-to-date startups in Blockchain industry. There is tremendous opportunity to offer a wide spectrum of necessary technical solutions for Russian IT market and many other fields of blockchain development. Russia has a great need to obtain, expand and use the blockchain platform in numerous economic, legal and social fields of modern life. We believe that appropriate implementation of Blockchain in Russia is going to be an evolutionary leap forward."

"Governments are beginning to see how the blockchain could be used as a tool for streamlining the inner-workings of state institutions," says Akers. "We are focused on providing a comprehensive overview of the technology and its impact from a legal, economic, social, and technical standpoint."

The use of Bitcoin and other crypto-currencies is currently illegal in Russia and various other countries worldwide. Prior associations with illicit online activity -- such as drug dealing, illegal arms sales and human trafficking is increasingly being seen as a distraction from the potential of the 'digital ledger' upon which it is based.

"Our aim at NextTech is to address the misinformation surrounding cryptocurrencies more generally," stresses Akers. "We want to clearly illustrate the difference between 'what it is' and 'what people do with it' -- a crucial distinction."

Commonly referred to as the 'blockchain,' the technology underpinning bitcoin is quickly moving mainstream as it is recognized by state officials, central banks -- including the Bank of England -- and private enterprises like Microsoft, as potentially the most secure data filing facility ever created.

Downplaying focus on their commercial product offering, NextTech's blocknext.com provides us with a small glimpse into what they have in store for Russia.