One Step Closer!

          

An increasing number of central banks and governments are working on digitizing their national currencies. China and Russia are investigating the potential of Ethereum as the base protocol for a digital Yuan and Ruble respectively. By utilizing the ERC 20 token standard would grant them  higher liquidity and interchangeability.

While all the eyes are upon the Civil War between BCH and BTC, Sberbank  the russian largest bank and the third largest in Europe, majority-owned by the Russian government purchased a huge amount of video cards for mining.

 According to the first vice president, Alexander Vedyakhin :

We invest a lot in technology, and we should, in passing, apologize for that shortage in the video card market, which happened recently, because we bought them for the artificial intelligence laboratory,” Vedyakhin said at Sberbank’s international conference on analysis. of data. , machine learning and artificial intelligence. However, he indicated that the shortage will soon be over “since we have satisfied our need. 

The videos cards models are GeForce GTX1060, GTX1070 and Radeon RX480. As we all know these cards are to mine Ethereum. The stage of mining is the a few steps before the coin will be available.

In 2016, the Bank of Russia announced the development of an Ethereum-based interbank blockchain prototype called Masterchain. Some of the largest commercial banks in Russia participated in the pilot test, and the Bank of Russia’s Deputy Governor recently expressed her optimism toward cryptocurrency.“Regulators of all countries agree that it’s time to develop national cryptocurrencies, this is the future.

 In early 2017, Ethereum co-founder Vitalik Buterin revealed that a part of the vision of the Enterprise Ethereum Alliance (EEA) is to provide an infrastructure for large-scale commercial companies. As Ethereum evolves into a more flexible and functional network, it would allow central banks such as the People’s Bank of China (PBoC) and Bank of Russia to consider the actual possibility of building serious applications and even national digital currencies on top of the Ethereum protocol.

Expectation 

 In a few months while 'Putcoin' or 'rubble coin' will be issued Russia is likely to ban bitcoin trading to promote their currency even if they will continue to mine it. We will have the same symptom as  for 'China ban' occured in Sept 2017.