Why do crypto-enthusiasts and blockchain developers leave Russia
The growing demand for digital assets from both institutional investors and people who have turned their eyes to cryptocurrencies for the first time allows us to be optimistic about the future of the entire industry. According to data provided by analysts of cryptocurrency exchanges, the amount of monthly deposits of platform users from Russia for the first half of 2020 increased almost 5 times.
Despite the presence of unforeseen market crashes in the past, which were accompanied by expert forecasts about the sudden end of the market for cryptocurrency assets as profitable investment cells, currently Bitcoin feels confident afloat while other markets are afloat. Additional interest from investors is fueled by the recent halving (halving of mining rewards) of the flagship cryptocurrency, which, like all previous ones, can act as a guarantee of future growth in the value of the digital asset in the next four years. It should also be noted that the powerful trend of 2020 called Decentralized Finance has increased the interest of many active market participants and attracted the attention of those who were previously not interested in this market, thanks to the super-profits of some digital assets in the DeFi sector.
No matter how much talk there is about the prospects of blockchain technology and the future of cryptocurrencies, some governments are trying to protect their citizens from using digital assets under the pretext of fighting money laundering and protecting the interests of investors.
One such example is the law on digital financial assets (CFA) adopted by the state Duma of the Russian Federation on July 22 in the third reading. This law defines cryptocurrencies and prohibits their use in Russia as a means of payment for goods and services. Thus, starting from January 1, 2021, it will be possible to conduct transactions with cryptocurrency assets, but it will not be possible to pay them with Russian residents, and they will also need to be declared.
If we take into account the fact that the whole world sees the prospects of cryptocurrencies primarily as a means of payment, and not as a speculative tool, then such a law is not comparable to the development of the industry in Russia. At the same time, you need to take into account not only the negative aspects of the law, but also what it can lead to, creating a whole basis for corrupt interactions and unfavorable stories for people unfamiliar or unfamiliar with cryptocurrencies.
The ambiguity of such legislation repels domestic innovators from creating breakthrough technologies on the territory of their own country, and the digitalization of the economy is inevitable, no matter how much most banking corporations around the world struggle with it.
It is also important to note that most of the truly unique personnel who have lit the fire of decentralization, and centralization, but based on blockchain technology, choose more comfortable countries or work in foreign projects based on the potential of income received, which is usually several times higher than the Russian one, due to the fact that it is expressed in a currency that is much stronger and more valuable than the Russian ruble.
If you sum up all the risks that the passion for the cryptocurrency market in Russia entails, you will get a real snowball that does not melt from year to year, but only grows in volume, and its basis will be the risks associated with the General political situation, sanctions measures, corruption, unfavorable laws, which in the end does not seem to be an environmentally friendly place to conduct high-quality and honest business related to the cryptocurrency industry.
Anton Katin, who chose Switzerland as the base for his Bitcoin storage company — Simba.Storage, reports that all these risk factors are absent.
Digital asset industry in Switzerland
Switzerland is one of a number of countries loyal to cryptocurrencies, since it is where the Crypto Valley Association, known as Cryptodolina, is located. The Crypto Valley Association is an independent Association supported by the government and positioned by the community as the central global ecosystem of digital assets and blockchain technology. The largest blockchain projects, startups and industry giants, in particular, Ethereum and Tezos Foundation, which occupy the leading positions in the list of cryptocurrencies favorable for investment, after Bitcoin, are located in the Cryptodoline in the city of Zug.
More and more crypto-enthusiasts and developers working on blockchain technology are leaving Russia and choosing Switzerland in order to continue their activities there and be sure that the presence of cryptocurrency in the wallet and payment with Bitcoin for various services and products will not lead to administrative or criminal liability.
One of our compatriots who decided to get used to Cryptodoline is Anton Katin, the founder of the Bitcoin storage Simba.Storage and the Tres Group GmbH consulting company. A team of 21 specialists works on these projects, the largest of which is the development department. Anton Katin also plans to transport most of the team to Switzerland for the most optimal and well-coordinated interaction with each other.
On the example of these two organizations, you can evaluate all the advantages of the existence of a legislative field loyal to cryptocurrencies in the country.
Simba.Storage and TRES Group GmbH
Anton Katin, who has already established himself as a successful entrepreneur and investor in the field of cryptocurrencies in Russia, moved to Switzerland a year ago and decided to implement the idea of a secure and reliable decentralized cold storage of cryptocurrency assets and a premium consulting service on aspects of the cryptocurrency market, offering services around the world.
Anton, who was born and raised in Russia, in his public statements emphasizes that in the context of the global crisis and attempts to control the turnover of cryptocurrencies by the government, the issue of free storage of Bitcoins and performing any kind of transaction is extremely relevant for Russian residents.
The SIMBA ecosystem provides for storing Bitcoins in 4 countries that are most loyal to cryptocurrencies, namely, Switzerland, Liechtenstein, the United Arab Emirates and New Zealand, where Simba.Storage is located. It is in these countries that the maximum attention in the field of digital assets is paid to protecting the interests of users, and for business owners there is no suffocating set of restrictions, which allows you to organize a mutually beneficial economic model of interaction.
In addition to storage, the ecosystem has two internal cryptocurrency assets, the SIMBA token and the Simba Storage Token (SST) service token.
SIMBA token is backed by Bitcoin in the ratio of 1 SIMBA = 1 satoshi of the ERC-20 standard. SIMBA is intended for payment for goods and services, cross-border transfers, depositing for passive earnings, lending, trading within decentralized platforms, and supporting decentralized applications.
The SST service asset, being the basis of the ecosystem, should become the engine of mass adoption and stimulate the growth of the entire project. Simba Storage Token will be distributed among the first Simba.Storage clients, the most active users, and strategic partners.
Customers will be able to buy SIMBA tokens directly from bank cards. Negotiations are underway to connect payment systems. You will be able to use your payment card of any country to pay for the purchase of Simba directly on the website. Simba will be transferred to the company’s account. The scheme is as follows — your fiat goes to our partners (the company provider), the company transfers bitcoins to Simba Storage, the smart contract issues Simba tokens and transfer them to your Ethereum address. The fee is approximately 4–5%.
TRES Group GmbH, in turn, has an authorized capital of 5.8 BTC (Bitcoins). The very fact of accounting for Bitcoin as the authorized capital already speaks about the convenience and reliability of doing business in the field of cryptocurrencies in Switzerland, the only country that provides such an option, eliminating unnecessary bureaucratic procedures and the need to use Fiat currencies.
TRES offers consulting services in the field of cryptocurrencies for both legal entities and individuals. Consultations are conducted by professional traders, analysts, psychologists, international law lawyers, accountants, programmers, including the Founder of the entire holding Anton Katin.
Today, we can already say that organizing the work of specialized specialists involved in the cryptocurrency industry, when it is not only not prohibited by the state, but also encouraged, is so much easier and more effective for creating products and technologies that change world realities, as detailed examples of stop factors are described that answer all questions related to the reasons for the outflow of highly qualified specialists and crypto-enthusiasts from Russia and at the same time demonstrate solutions that need to be implemented to stop the leak.
If you are interested in the activities of Simba.Storage or TRES Group GmbH, as well as the opportunities and services they offer for their clients in the field of investment, storage and consulting related to one of the most innovative and profitable markets on the planet, or you are interested in acting as an investor, you can do this through direct communication with Founder Anton Katin, by email: email@example.com.