On October 3, 2017, a round table was held at SPIBA dedicated to block chains and crypto currencies.

Gleb Apenkin, associate of the Corporate practice spoke at the event. In his presentation, Gleb spoke of the technology of distributed ledgers, block chains, smart contracts and their state regulation.

In Russia, as in many other countries, the block chain technology and crypto currencies are at the stage of legal initiatives being adopted, which would regulate this area. Important aspects of such type of technology are a high degree of security for the chronology and events (absence of intermediaries), a suitable way to record financial operations and banking regulation. The areas in which such technology could be used are vast: insurance, social networks, retail, the state sector and medicine, and they are already being actively implemented in such countries as the USA, Japan and some EU countries.

The questions of using such new technology are very interesting, though rather complex for the broad audience to perceive. Understanding the mechanisms of using the technology requires rudimentary knowledge in IT and cryptography. Following Gleb Apenkin’s presentation, the participants agreed that this technology is a very prospective one and will be among dominant ones in the future.