The Ministry of Finance proposed to allocate 349 million rubles for the development of blockchain in Russia

The Russian Ministry of Finance plans to allocate 349 million rubles for the development of the blockchain in the next three years.

As part of the national program "Digitaleconomics" The government will finance organizations developing software based on distributed registry technologies for processing and storing data by government information systems. They plan to allocate funds in stages: 199 million rubles. in 2020 and another 150 million in 2021. 

At the moment, the draft budget is at the approval stage. The law on the use of blockchain is alsoadjusted.

Within the framework of the program, over three years the governmentplans to provide subsidies worth 389.9 million rubles, and according to calculations of the Ministry of Telecom and Mass Communications, the implementation of the Digital Economy project will will require investments in the amount of 2.8 trillion rubles until 2024.

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