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Features of Digital Money Discussed at RIF2023

On the final day of RIF 2023 on May 26, the Director of the Coordination Center for TLD .RU/.РФ addressed the IT breakfast “Technological Leadership of Russia”. He spoke about how the Runet infrastructure copes with sanctions and how import substitution is going in this area, as well as about the current situation with the use of the ESIA for registering domain names. “The Ministry of Digital Transformation understands that the ESIA needs to be implemented, moreover, the draft law on the introduction of mandatory registration of domains through the ESIA was proposed by the ministry last summer. Now we are in the process of coordinating the requirements for registrars received from other authorities,” Andrey Vorobyev said.

And in the Career Lounge, a rich lecture program awaited the Forum participants from the Coordination Center for TLD .RU/.РФ.

The educational course from the Center opened with a lecture by Marina Rozhkova, Doctor of Law, President of IP CLUB, Chief Researcher at the Institute of Legislation and Comparative Law under the Government of the Russian Federation. In the lecture "Digital Money - What Is It?" Marina spoke in detail about the history of digital money, its features and how digital money is positioned in the legislation of different countries. The lecturer explained in detail how digital money differs from money surrogates - bonuses, points, miles and other things. The listeners were introduced to the types of digital money.

Marina Rozhkova explained the difference between public and private blockchain, which turned out to be small, and talked about how the creation of the most famous cryptocurrencies took place. She noted that the first reaction of states around the world to the emergence of a public blockchain was negative, but later the states began to regulate the cryptocurrency market. Today, there is a market for national cryptocurrencies, which can be attributed to a private blockchain. Such a currency is, for example, the “digital ruble” currently being created. “The bill on the “digital ruble” is now undergoing a second reading, and it is likely that in July 2023 the law will be adopted,” Marina Rozhkova said.

Internet Ombudsman Dmitry Marinichev continued the topic of virtual finance with a lecture “All About Cryptocurrencies”. Dmitry Marinichev demonstrated with interesting examples how blockchain technology works. “The penetration of cryptocurrencies implies an absolute public consensus about every step in the chain,” he said.

The lecturer explained why cryptocurrencies are not an investment mechanism, and also spoke about the relationship between the state and cryptocurrencies and the prospects for the development of these relations. Cryptocurrencies have become an important factor in changes in various sectors of the economy, they are already influencing social relations, science, and commerce. “The development of cryptocurrencies will lead to a change in socio-economic relations, and business will move from competition to collaboration,” the lecturer said.

The RIF 2023 business program is coming to an end, but the exhibition stand of the Coordination Center will be open until the end of the day, where you can chat with representatives of the Coordination Center and 5 leading domain name registrars in the .RU and .РФ domains and ask them any questions regarding domain name registration, hosting, create websites and much more, as well as participate in contests and quizzes and receive gifts from the Center.

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