Many may have noticed that today up to 60% of startups are started by Russians, or they have a team of co-founders or developers from Russia, however, due to the uncertainty of state regulations of cryptocurrency, the juridical persons of these start-ups are registered in Singapore, Switzerland or the Baltic countries.

Russia occupies a vast territory, rich in natural resources, nevertheless occupies only 2% of world Gross Domestic Product (GDP). What is the reason for such a high interest of Russians in blockchain technology and cryptocurrencies? There are several fundamental reasons for this:

To begin with, Russia is in first place in terms of the number of Internet users in Europe with 76 million users, which is about 8 million more than second raking Germany. Russia ranks fourth place in Europe in terms of spending on Internet marketing, which amounts to 3.2 billion US dollars to date. These positions were taken up long before the 2017 hype in blockchain technology. The fight against piracy in Russia is still conducted formally. Of course, responsible Russian agencies block unwanted sites that violate copyrights, however, for Russian Internet users, virtually all existing software is available for free, cracked and posted openly. For Europeans, this rampant Internet piracy is obviously perceived as savagery, but for Russians with very modest incomes loopholes in the legislation provide an opportunity to get on top of latest technological trends and use modern software products.

The face of the second ranking cryptocurrency Vitalik Buterin speaks Russian and is a frequent guest of international crypto conferences in Russia. The creator of Ethereum is not a citizen of Russia, and left the country at a young age, however his parent’s technical education background in many ways has influenced him greatly. In 2017, the Russian magazine Forbes presented a list of 100 most influential Russians of the century, including Vitalik Buterin, whose mention in the press is now much more common than his compatriot who is known in the IT sphere as Google search engine co-founder Sergey Brin.

The coinmarketcap list is full of cryptocurrency logos, and among the successful blockchain solutions, more and more projects are seen from Russian developers who created Waves, Emercoin, Wings, Humaniq, GOLOS, ChronoBank, BitFury.

The founder of the investment fund MGT Capital Investments and the creator of the anti-virus McAfee Security, a billionaire with a taste for blockchain technology and cryptocurrencies, John McAfee joined the advisory committee of the Russian blockchain project Universa, headed by Alexander Borodich.

Attention to the Universa platform from such a well known person in the world blockchain is not by accident. In turn, venture investor and visionary Alexander Borodich is sure that blockchain technology will have at least 10% of world GDP by 2027. The Universa platform is one of the few in practice that offers blockchain solutions that can easily solve many existing corporate and public sector problems. Universa is conducting several cooperation projects for implementing blockchain technology in the fields of logistics and transport, state tenders, social projects, land management, banking, hotel business and others. In Malaysia, an agreement was signed by Universa with both the Angkasa Goop and ASN Networks, through which Universa solutions will be applied to control social payments to 4 million Malaysian citizens. Thanks to smart contacts, the targeted funds allocated by the state cannot be spent on alcohol and cigarettes.

Universa confidently heads the White List of Russian blockchain projects, in which investors are confident that they are investing in working technology, rather than in a speculative tool.

The opinion, inflated by the press, that the majority of Russian startups are scams, is not true. Russian blockchain entrepreneurs and developers are not "Somali pirates", and despite the general decline of enthusiasm in the market continue to amaze the community with ambitious projects, the viability of which can be observed after analysis of their practical applications.