Friday, June 2, 2023


by Hideo Nakamura

Tomsk is a city in western Siberia, Russia. It is located on the banks of the Tom River and has a population of approximately 590,000 people. The city is an important economic center in Siberia and plays host to many large companies such as Gazprom and Sberbank.

In terms of cryptocurrency, Tomsk has been making waves in recent years as it was one of the first cities to introduce blockchain technology into its infrastructure. In 2017, Tomsk launched its own digital currency called “Tomcoin” which can be used for various transactions within the city limits. This initiative was taken to reduce cash payments while increasing transparency in business deals and other financial agreements between citizens or businesses residing inside or outside of Tomsk’s borders.

The use case for Tomcoin is two-fold: it can be used for both private transactions (such as buying goods from local stores) or government services (such as paying taxes). Its value fluctuates depending on market demand but typically stays close to that of the Russian ruble since it is pegged against this currency by local authorities. Additionally, there are plans to make Tomcoin available across other parts of Russia soon so that it may become an international form of payment accepted by more merchants worldwide.

In addition to providing citizens with access to digital currencies like TomCoin, Tomsk also encourages blockchain development through initiatives such as hackathons held at universities throughout the region where students learn about coding projects related to cryptocurrencies and distributed ledger technologies such as Ethereum and Hyperledger Fabric. These events help expose young professionals to emerging technologies which will eventually play a larger role in society over time – something which could prove invaluable when looking towards future career opportunities involving cryptocurrencies or blockchain applications overall!

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