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Excessive regulation of the digital technologies sector can lead to the emergence of a nation of cryptoanarchists, believes the head of the Agency for Strategic Initiatives Dmitry Peskov.

"If everything is overregulated, we will raise a nation of cryptoanarchists. They will compete perfectly with our government bodies and circumvent the legislative norms," Peskov explained, according to Gazeta.Ru.

The Russian Government intends to digitize the national economy by 2024. This aim will require at least 100 billion rubles annually ($1.4 billion). According to the program of digitalization, by 2024, there must appear in Russia at least ten high-tech and globally competitive IT companies, with 1 million IT professionals engaged in this area, and Russia's share in the global volume of digital services should grow from 1 to 10%.

According to the Rostech state corporation, Russia's digital economy share in total lags behind that of developed countries. The digital economy in developed countries is represented by about 5.5% of GDP, while in Russia it stands at 2.8%. Yesterday, the Russian Ministry of Economic Development announced its plans to move the National Realty Registry to a blockchain-based platform.

Decentralised technology will allow the granting of mortgages and seal buying and selling deals online. Similar projects are already under development in Georgia, Japan and Sweden.