As the work on Russia’s national cryptocurrency is underway, the city of Moscow is discussing issuing its own cryptocurrency, the Moscowcoin. This will be possible after the legal framework of cryptocurrencies is established for the whole federation, city officials explained.
Moscowcoin Discussion
The head of the Moscow department of economic policy and development, Vladimir Efimov, confirmed to reporters on Thursday that the issue of the city’s own cryptocurrency, the Moscowcoin, is being discussed. “The Moscow government plans to create its own cryptocurrency,” RNS reported and quoted Efimov admitting “we are thinking about this topic.” Noting that “the discussion has not been completed yet,” he further elaborated:
"Before implementing such technologies in the city, you need an understanding of how this will be resolved at the federal level…When there is a clear understanding of what can and cannot be done, where it is possible [to use] and where it is impossible, we, of course, will adapt to this."
Possible Use
According to Efimov, the Moscow city government is investigating the implementation of the technology in the city’s resident-facing web portals and services. “We are discussing the implementation of blockchain technology on the basis of the city’s metropolitan services,” he detailed. “We have a whole range of different portals and various forms of interaction with citizens, and now we are actively working out the question of how to implement this technology,” he described.
However, Efimov did reveal one detail about the likely scope of Moscowcoin. He told Tass:
"As an option, Moscowcoin can be used by residents of the city on the ‘Active citizen’ portal."
https://news.bitcoin.com/russias-capital-moscowcoin-cryptocurrency/
