The Russian capital to discuss the launch of its own crypto-currency, called Moscowcoin

While Russia is still working on the implementation of regulation around crypto-currencies, the city of Moscow discussed the creation of its own virtual currency, the Moscowcoin. This will be possible after the development of the legal framework for crypto-currencies in the country, said the officials of the Russian capital. The head of the economic department and development of Moscow, Vladimir Efimov, confirmed that the question of the crypto-currency of the city, the Moscowcoin, was in the course of discussion.

He explained that the city of Moscow plans to create its own digital currency. The discussion is still ongoing. The realization of this project is dependent on the position of the Russian government on the crypto-currency.

The decision is up to the Russian State

In recent times, the Russian president was very interested in the use of crypto-currencies in the country. Recently, it has not hesitated to declare his support for the creation of a virtual currency to Abkhazia. The project of the capital to launch his own crypto-currency is possible.

Here is a video showing the intention of Russia to create their own crypto-currency :

Furthermore, before implementing such technologies in the city, it is important to understand how its implementation will be dealt with at the federal level. Moscow must therefore wait for the decision of the government before embarking on such a project.

Use of the new crypto-currency possible

According to Efimov, the mayor of Moscow is studying the implementation of technology in the portals and web services of the city. He stated that they are currently analysing the implementation of the technology blockchain on the sites of the city. Efimov explained that Moscow has many platforms.

The mayor of the city and the government to discuss issues of importance related to the city, transport, spatial planning, health and education. The creation of the Moscowcoin has already been discussed at the end of the month of August.

Source : NewsBitcoin