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INGVARR team led by co-founder and managing partner, Anton Mogilevsky, attended the conference «Blockchain in Digital Economics»

Last Friday, 26 October 2018, INGVARR team led by co-founder and managing partner, Anton Mogilevsky, attended the conference «Blockchain in Digital Economics» which was organised in Moscow by Vedomosti with participation of INGVARR.
The participants at the conference were leading technical experts in blockchain from major financial institutions (Sberbank, VTB, Alfa-Bank, Raiffeisen Bank), industries (Microsoft, Megafon, S7), academia, governmental and quasi-governmental organisations in Russia, Europe and Asia. They shared their experience and views regarding implementation of the technology in various spheres, including banking, finance, aviation and public sectors. Experts generally agreed that the technology itself does not pose significant risks from regulatory perspective. The state of regulation to be applied will much depend on how the blockchain technology is implemented.

Anton was a speaker during the session devoted to legal issues surrounding blockchain technology «International and Russian Law For Blockchain». He shared his knowledge about current market trends in relation to token sales and discussed key issues considered by a potential token issuer when choosing the jurisdiction for token issuance and launching its operations.

The speakers also discussed proposed legislative package which is currently being considered by Russian State Duma. In a previous session, Yuri Pripachkin, a president of Russian Association of Сryptoindustry and Blockchain (RACIB), as well as other Russian experts expressed critical thoughts in relation to the proposed drafts.

Venera Shaidullina as representative of expert committee for digital economics and blockchain-technologies at Russian State Duma explained the regulatory approach and confirmed that the version adopted in the first reading is being reconsidered. It is expected that the revised draft will be submitted for review this autumn. She also presented an idea to establish alternative dispute settlement venue for resolution of blockchain- and crypto-related disputes. The concept is currently being developed. It remains unclear, if and when it will be implemented.

During session, Volker Skwarek, a professor of Hamburg University, informed that ISO standards for blockchain in Europe are expected to be adopted not earlier than in three-four years, while Russian experts announced that it is planned to adopt blockchain standard as early as beginning next year.