Ruben Pombuhchan, IPI-Lab at the IBF forum: Blockchain Destined for Wide Use
According to experts, prospects of blockchain technologies do not raise doubts. It means the introduction of state regulation for ICOs, cryptocurrencies, and distributed computation. Business must participate in developing relevant regulations as actively as possible to prevent superfluous rigidity of the legislation.
The IPI-Lab was an official partner of the International Blockchain Forum that took place on October 12, 2017. In his speech, the managing partner, a member of the IPI-Lab Research Council Ruben Pombuhchan explained that blockchain perfectly fitted those economic laws that were formulated 30 years ago. That is why it will be widely used.
«The cheaper transactions are, the more efficient process is. It goes not so much about financial mutual settlements as about fixing rights and any transactions, in general. Theoretically, their cost must tend to zero», the expert explains. «The distributed ledger (blockchain) technology by all means decreases transaction expenses of the market members».Through the initiative of the IPI-Lab Company, it was offered to approve the resolution about methods to create a specialized regulatory environment. These are key provisions:
- To formalize the model of managing ICO (Initial Coin Offering) processes in the legislation by developing a draft law on collective investments as an alternative way of financing,
- To create a zone for 5 years pilot testing of blockchain platforms under the control of the Central Bank of the Russian Federation.
The presentation can be viewed here.