Blockchain will cause a new technological revolution, just like the personal computer did by the end of the 20th century, thinks Pavel Luksha, Professor of Practice at Skolkovo Moscow School of Management.

He claims that the attitude of the Russian Ministry of Finance towards bitcoin is wrong. Luksha, a member of the Expert Council of the Agency for Strategic Initiatives, spoke to CoinFox on the sidelines of the Krasnoyarsk Economic Forum.

The opportunities for blockchain are immense, says Luksha. According to him, whoever questions it sounds similar to those asking in the 80’s: “Do PCs have any perspectives?”

“Yes, they did, and a technological revolution began in the 80’s. Does blockchain have any perspective in 2016? Yes, it does because it is the beginning of a new revolution.”

The professor also pointed out that he thinks it to be “a big mistake that the Ministry of Finance is following the prohibitive logic.” It would be better to provide platforms for experimentation with new technologies instead of imposing restrictions, because Russia has the potential to develop blockchain thanks to high level of the country’s cryptography schools.

At the same time, he is convinced that the technology will continue to develop in spite of the possible prohibition. In this case, it will carry on as an “underground economy”.

“Imagine the whole development department sitting under cover in Russia and sending out the code through encrypted channels to, say, Europe or the US, where the front office gets the copyright registered,” explained Luksha.

In 2015 the Ministry of Finance worked out a draft law providing criminal punishment for mining, buying and selling bitcoins. As a penalty for operations with the “surrogate money”, the draft suggests a fine of up to 300,000 rubles, or compulsory works for up to 360 hours, or up to a year of corrective works. The draft law hasn't been introduced to the Duma yet.

Andrew Levich