In an effort to keep up with the times, the President of Chechnya Ramzan Kadyrov has invested in bitcoin.
About this Kadyrov wrote on his page Vkontakte:
In an ever-changing world of technology need to improve, to understand the innovations.
I already said that in the Chechen Republic will implement a blockchain. I am also interested in innovative payment network. I decided to purchase a share of bitcoin to follow the development of cryptocurrency.
The head of state of Chechnya believes that the cryptocurrency should clearly be governed by Federal law, but they should not be banned:
But still I am of the opinion that the industry should be clearly regulated by law, but not prohibited. Most importantly, to protect citizens from financial pyramids and other fraudulent schemes.
Ramzan Kadyrov did not call exactly how much he invested in the cryptocurrency room odiin. And warned his followers about the possible risks:
An investment in bitcoins, of course, thing questionable, you can lose all the money, insurance no no. The more developed the fraud in this segment.
Sudden change of position
Despite the skepticism that Kadyrov has demonstrated in his post on Vkontakte, the fact of investing in bitcoin is a major advancement for Ramzan. Only February 2, in his Telegram channel, he said that:
The media portrayed the cryptocurrency as the new gold, causing a kind of bitcoin fever. People take out loans, save for themselves and their families, invest the money in digital assets, promising incredible profits. Don’t want to dwell on the obvious things, like the fact that profit always goes hand in hand with sverrisson: for example over the past month, bitcoin has depreciated twice.
But I’m more concerned about the moral side of such investments. People that invest money in cryptocurrency expects that their value would increase many times. But why wait for that? Unless the person worked hard to get this profit? Is the invested money helped others, developed a case, supported by any project? No, on the contrary, the price of this cryptocurrency grows only at the expense of greed invested in them, trying to involve new investors and to profit in their greed.
Oznachat that in just 10 days, the leader of Chechnya has become more greedy or just learned about cryptocurrency enough to change your mind?
Russian media reported that the Chechen leadership, in General, were positive about blockchain technology. About a week ago, again in his Telegrams, Ramzan Kadyrov, said that his government was “actively working” on introduction of blockchain technology in “Rosreestr”. Chechnya, Kadyrov wrote, works in this direction in cooperation with Vnesheconombank (VEB):
In cooperation with Vnesheconombank established a working group. I can’t say when it will happen, but we’re working on it
Kadyrov spoke for the first time on the blockchain during a meeting with the President of Vnesheconombank Sergey Gorkov last year. After this he hinted in his Instagram about a series of upcoming innovative projects that should be implemented in Chechnya.