The president of Chechnya, Ramzan Kadyrov, strives to take care of the development and has now bought some bitcoins. The outspoken strongman for the once restive Russian republic has bragged within the purchase on social websites. Whether so “yes” to cryptocurrency in the Caucasus?is ultimately as much as Moscow. Nevertheless, the costa rica government in Grozny have been somewhat positive at the concept of decentralization and features already gone after put some police records on a blockchain.

“I’ve made up my mind to buy a share of bitcoin to follow along with the evolution in the cryptocurrency”, Kadyrov?posted?on his?VKontakte?page. In the constantly changing field of technologies you have to improve oneself to enable you to grasp innovations, he told followers within the Russian web 2 . 0. “I have already stated that blockchain would be introduced from the Chechen Republic and I am also focused on innovative payment

The Chechen head of state believes the crypto sector have to be clearly regulated by federal law, although not banned. “The most important thing is to protect citizens from financial pyramids in addition to fraudulent schemes”, obama wrote.

Ramzan Kadyrov could not reveal the total amount of rubles he spent on bitcoin. However, he invested some time to warn his compatriots with regards to the risks connected to cryptocurrency investments. “It is often a dubious thing”, he said. “You can lose your current money. There isn’t a insurance there”, he added, noting the prime rates of fraud through the crypto world.

An extended sort of Kadyrov’s warning was shared some time ago on a Telegram channel?posting “selected quotes” from the president. “In recent months we’ve got heard lots about the named cryptocurrencies and I cannot stand aside whilst my opinion to myself”, he was quoted saying, cautioning Chechens that “super profit” incorporates extraordinary risks.

“Media is presenting cryptocurrencies given that the new gold, provoking some sort of a bitcoin fever. People take credit, deprive themselves as well as their families to take a position their last funds in digital assets”, Kadyrov noted. The Chechen leader admitted he was anxious about the moral side of which investments.

“Someone who puts money into cryptocurrencies expects their value to extend many fold- Their price grows limited to the expense of investors’ greed. All those are trying to pull in new investors after which you can get rich using their greed,” Kadyrov said about 10 days before his bitcoin purchase. He began to ask followers to express his warnings with relatives that had been “drawn into such adventures”.

Russian media have reported the fact that the Chechen leadership has raised sights to the blockchain technology. Roughly a week ago, again on Telegram, Ramzan Kadyrov announced his government was “actively working” on implementing it in “Rosreestr”, the Russian property register system. Chechnya, Kadyrov wrote, was doing that in cooperation with Vnesheconombank (VEB), a federal institution focused on financing development projects.

“We are implementing blockchain in your Republic’s register. A practical group was set up coupled with Vnesheconombank. I can’t say if this will happen, but our company is working on it”, the Chechen president stated, quoted by?Cryptellect.

Kadyrov submit the blockchain idea on a meeting with VEB’s president Sergey Gorkov not too long ago. At the time he hinted on Instagram a couple of series of upcoming innovative projects to get realized in Chechnya. The proposal to decentralize the republic’s property register was web site on the table.

From football passions to national healthcare issues, horseback riding to motorbiking, Chechnya’s head of state has everything you need shared on social bookmarking, keeping his compatriots wise about what he is up to. He is been rated being the most quoted blogger among heads of Russian regions. Kadyrov provides his pages to for Lenin’s body burial also, the leader of Chechnya, Kadyrov Buys Bitcoin that you follow the evolution, he or she is willing to resign and devote his life to protecting the Al-Aqsa Mosque. They have issued official statements or perhaps posted about his missing cat. Russian media have enjoyed his pictures and videos, including exclusive material from high life events.

In addition to the Russian channels, the Chechen leader had also maintained Facebook and Instagram accounts before these people were taken down in December. Kadyrov had over 3 million followers to his Russian-language Instagram, and another 750,000 on Facebook. He accused the U.S. government of putting pressure on your social networks to seal his accounts. Kadyrov has since chosen an Instagram-like Chechen myspace or facebook called Mylistory, quickly as well as 30,000 new subscribers. She’s also actively using his?Twitter account.

U.S. authorities imposed travel bans and financial sanctions on Ramzan Kadyrov over multiple allegations of human rights abuses. His administration is actually accused of persecuting gay men in Chechnya. Within a?HBO?interview in ’09 he said there are no such people in his republic. A couple of years ago Kadyrov urged Chechen men to ban their wives from using WhatsApp after outrage above the marriage associated with an underage girl into a 47-year-old police chief spread around the messaging service.