Friday, March 29, 2024

Russian Federation

by Hideo Nakamura
Russian Federation

What is the Russian Federation?

The Russian Federation, commonly known as Russia, is a country in Eurasia and the world’s largest by area. It stretches from Eastern Europe to northern Asia and shares borders with many other countries, including Norway, Finland, Estonia, Latvia, Belarus, Ukraine, Georgia, Azerbaijan Kazakhstan and China. The capital city of Moscow has served as the seat of government since 1147.
Russia is a federal semi-presidential republic that consists of 85 federal subjects. Its population was estimated at over 145 million people in 2018 making it one of the most populous countries in the world. It boasts an impressive economy with its primary exports being oil and natural gas which account for 80% of all export revenues according to World Bank estimates from 2019.
In recent years Russia has become increasingly involved in cryptocurrency technology through investments into startups such as Waves Platform which provides blockchain infrastructure solutions for financial institutions who are looking to use distributed ledger technology (DLT). Additionally there have been several reports about trials conducted by major banks such as Sberbank using blockchain technologies such as Ethereum for managing customer data securely on their networks. Furthermore regulations are slowly getting more lax allowing more companies to legally operate within this sector while still ensuring consumer protection laws are followed strictly thus providing extra confidence when trading digital assets across different platforms. As a result we can expect increased growth within this space moving forward making it an interesting prospect for investors both domestically and internationally despite not having any national digital currency currently available yet like some other nations around us do already possess..

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