RUSSIA’S RICHEST MAN IS LAUNCHING HIS OWN CRYPTO TOKEN

Posted 25 February, 2020

OLIGARCH BRINGS BLOCKCHAIN TO THE MASSES

 

 

Vladimir Potanin, who recently became the richest man in Russia according to Forbes, wants to expand his blockchain platform by launching his own cryptocurrency. Digital devices will allow buyers to buy metal, plane tickets and transfer ski tickets from their business.

Ironically, this message came a few days after we reported that the FSB, the Russian version of the FBI, was in contact with the central bank to ban cryptocurrency status as a means of payment.

Potanin has repeatedly stated his intentions to create cryptographic tokens. He wanted to help customers buy chips without friction. Now he can continue his plans after receiving a green signal from the Bank of Russia.

The purpose of the platform is to reduce the amount of documentation and brokers as well as to speed up transaction times.

 

He told Bloomberg:

To some extent Russia appears ahead of many other jurisdictions in terms of digitalization. The central bank gave us a very wide mandate.

 

 

ATOMYZE CRYPTO TOKENS WILL BE AVAILABLE IN US, SWITZERLAND

 

The Potanin blockchain platform, known as Atomyze, will also be based in Switzerland and the United States, but only for corporate clients.

The subsoil will soon be operational by 2020. Ends when the Russian Digital Financial Property Law passes through the State Duma and enters into force.

Potanin says his tokens will have a big impact on metals. Its nickel and palladium giant Norilsk Nickel will test chips based on palladium, copper and cobalt for the first time. Other platform testing companies include Traxys SA, Trafigura Group and Umicore SA. Norilsk Nickel, the world's largest palladium producer, will be the first to release Potanino chips.

Based in Zug, Switzerland, Atomyze has developed its own platform based on the Hyperledger Fabric chain and is currently in pilot mode. CEO Marco Grossi explained:

 

The main idea of tokenization is not in buying or trading cryptocurrencies; it lies in the creation of a modern and transparent mechanism for digitizing of assets, and in the creation of new digital markets, where tokenization is a service helping issuers transfer rights to their assets into a digital form.

 

 

According to Potanin, the platform could encourage other Russian business giants to get permission for blockchain-oriented projects. He said the central bank had been checking Atomise for about four months.

“Our project is of great economic importance, because the easier it is to offer new products, the faster they are produced,” he said.

 

WHO IS VLADIMIR POTANIN?

 

Potanin is a billionaire and oligarch who, according to Forbes, is currently valued at $ 27.7 billion, at the time of writing, Russia's richest man.

1995 During the privatization period, he acquired a majority stake in Norilsk Nickel, which he currently manages. He co-founded and currently owns shares of Rosa Khutor Ski Resort and Petrovax Pharm with Onexim Bank.

Before Russian President Vladimir Putin came to power, the country's politics and economy were heavily influenced, and sometimes even controlled, by a group of seven oligarchs, often called seven bankers, including Potanin. The group collaborated in 1996. By electing former president Boris Yeltsin, and then manipulating him, directly or behind the scenes.

Other members of the group included Mikhail Fridman and Vladimir Gusinsky, who was the most prominent figure in the group, Mikhail Khodorkovsky, who owes Russia $ 50 billion, according to a recent Dutch court ruling.

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