Sberbank of Russia piloted world’s first national ICO
Local time 24th, May, business investment department Sberbank CIB under sberbank of Russia and NRD piloted first official ICO of Russia.
Sberbank CIB and NRD plan to start this projects in 2018,Summer.
It is said that this is experimental ICO project under the supervision of Russian bank sandbox, which would truly know the application of crypto currency and blockchain technology in the layer of law.
Meanwhile, it is the first ICO project which led and endorsed by the government in the world. It means that crypto currency has entered a new phase of development in the world.
It seems mainstream nations are giving more space to ICO nowadays.
However, different from passions to crypto currency in foreign markets, Chinese supervision organization has declared many times that China would take serious measure to illegal fund-raising, shut down local ICO projects and exchanges.
Although China banned trading of crypto currency, there are still many supporter of crypto currency in China, especially BitCoin.
Reported by FiiiGroup, 17th May, a young man buy a two-bedroom unit in Shenzhen which worth 5,500,000 yuan with 92.6 BitCoin.
Crypto currency are having more influence to traditional economic, and technology of crypto currency would surely benefit it.
In temporary days, the high cost and low profit is the significant conflict of traditional economic. Phenomenon like middle and small firms are difficult to financing are still exist and it shows that supports from financial industry are not enough for traditional economic.
Blockchain technology could realize digitization of credit, then combine information flow, material flow and cash flow together, and enable capital to go into crypto industry.
In conclusion, supervision to crypto currency is a hard work, in one hand, it need to protect the stability of finance and prevent risk, in the other hand, it need to protect the consumer.