Sergey Gorkov: ‘How Quickly Breakthrough Technology Comes into Use Is Essential to the Leadership and Development of Tomorrow’s Russian Economy’
Russia today is a world leader in the introduction of blockchain technology with the current primary objectives to intensely introduce quantum technology and convergent technology.
“To ensure that breakthrough technology develops in Russia, it is necessary to work systematically in four key areas: building an ecosystem of start-ups, providing support for major players in innovation promotion, ensuring cybersecurity and the proper level of education and building the necessary infrastructure,” Russian Deputy Prime Minister Arkady Dvorkovich said during the session “Strategic Outlook: Russia” of the World Economic Forum in Davos.
Vnesheconombank’s Chairman Sergey Gorkov said during the session “Strategic Outlook: Russia” that the focus on three areas, such as blockchains, quantum technology and convergent technology, would make it possible to use financial resources to the full and not only follow a trend towards building a digital economy but also be a trendsetter. “Russia today is not eager to attain blockchain leadership, it has already become a leader. As a development institution, we are tasked with building up a digital platform for tomorrow’s Russian economy essentially based on breakthrough technology. In our case, this concerns blockchains, quantum technology and convergent technology. How quickly they come into use is essential to retaining Russia’s leadership in building tomorrow’s digital economy. It is crucial that the Russian Government has launched the Digital Economy programme to work systematically on a massive scale in vital industries,” Sergey Gorkov said.
To intensely introduce blockchains, quantum technology and convergent technology, Vnesheconombank is setting up three global-level centres of competencies. The Blockchain Commune is already fully functional (six projects are well under way, chiefly in public services, including those provided by the Federal Service for State Registration, Cadastre and Cartography, the Ministry of Healthcare and the Agency for Housing Mortgage Lending), engaging world-class experts. As expected, two more centres—for quantum technology and convergent technology—will be open in 2018.
Our focus includes reviewing the regulatory framework and exploring the possibilities of setting up sandboxes and expanding the investor pool. Vnesheconombank is active in investigating the possibilities of cooperating with international partners in investment in direct investment funds to get financing for Russia’s high-priority sectors. Major Chinese and Indian financial institutions are considered to be strategic partners by Vnesheconombank.
During the World Economic Forum in Davos, Sergey Gorkov represented Russia at the session “Bits+ Blocks+ Forks”. Vnesheconombank’s Chairman also spoke at a panel session organised by the Roscongress Foundation in Russia House: Russia and the Global Digital Agenda. “Blockchains are not a technology, but a part of the development strategy for the new Russian economy. A development bank should serve as a catalyst for investment in strategic, high-priority sectors and as a key driver of innovation. I am confident that our focus on three areas, such as blockchains, quantum technology and convergent technology, will make it possible to use our financial resources to the full and ensure Russia’s leadership in fundamental, breakthrough technology,” Sergey Gorkov said.
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