The Russian Association of Cryptocurrency and Blockchain (RACIB) is the official association of supporters of cryptocurrency, blockchain, and related products in Russia.
The association represents the interests of the crypto community in the country and focuses on three main areas: cryptocurrency, blockchain, and ICOs.
The RACIB
The RACIB was started in the hope of further developing the digital economy in Russia.
Blockchain technology and cryptocurrency are new economic concepts that are still not clearly outlined in the legislative bases of most countries. In addition, many government agencies simply impede the implementation of crypto-economics and the development of the space and technology. But more and more counter-organisations are popping up that conversely aim to popularise blockchain technologies and lobby their interests in leading circles. In Russia, the RACIB took on such a role.
The organisation has set itself several goals, including the promotion of blockchain technologies in the country, the formation of business activities in the industry, and the development of a convenient legal background for the spread of new technologies.
The RACIB is responsible for:
- Communicating with bureaucratic representatives
- Representing blockchain community interests in government
- Developing various programs for the introduction of blockchain and cryptocurrency
- Organising various meetings, conferences, and summits
- Providing legal assistance for users working with cryptocurrencies and blockchain
- Leading the fight against fraudsters and swindlers in the fields of cryptocurrency and blockchain
- Developing a legislative framework for ICOs/IEOs
- Commenting on and criticising any misleading bills regarding cryptocurrency
The RACIB is the only organisation of this nature in Russia. According to the association, since the beginning of 2018, Russian legal entities and individuals have lost more than 270 million rubles from investments in services organised by outright fraudsters and incompetent companies in the field of crypto-technologies.
The association has put together a list of some of the most trusted companies in the fields of cryptocurrency and blockchain technology. Along with tracing unscrupulous ICO projects, the RACIB has also created a register of companies that provide services in mining, investment funds, marketing, and legal training.
The register of trusted companies will allow Russian and foreign market participants to rely on proven organisations and minimise the risk of fraud regarding the creation and development of Russian or foreign crypto businesses.
The register consists solely of organisations that have passed a voluntary security check and a financial stability test. The companies need to have experience and a solid business reputation, no court appearences, licenses and certificates (if necessary), and no tax arrears. Thanks to the information collected in the registry, all market participants can find reliable partners.
Let’s take a look at a few of the organisations on this list.
1GHS.RU
This crypto mining company builds mobile data centres called GigaBOXes for mining and has a number of large international contracts.
As well as supplying and selling equipment for mining, the company also develops firmware to increase the profitability of ASIC miners. It also provides data centre automation systems and rents its own network of data centres.
Cryptoprof Technology
CryptoProf Technology develops products in the field of cryptosecurity. The company specialises in simple and affordable solutions for personal and corporate users.
When developing its products, the team took into account the weaknesses of existing security products on the market as well as emerging trends, threats, and the needs of the crypto community. By following this approach, the company developed a specialised hardware wallet with integrated security called ZOAM. ZOAM is a small USB device with a screen and numeric keypad for entering, viewing, and confirming data and information.
TAFI Media Laboratory
This company handles the development and implementation of a full range of solutions for the promotion of tech services, goods, and brands.
TAFI Media Laboratory claims to understand the latest principles of the communication and distribution of information and provides the tools needed to help brands communicate with people and improve their own product.
One + One
One + One is a trade charity platform originally launched in August 2017.
The platform is built on the blockchain to provide transparency. Donations can be tracked to ensure the funds reach their intended destination.
Genesis Block
This company focuses on the development and implementation of advanced blockchain technology projects.
The company’s experienced specialists build effective programs and services that significantly expand traditional business processes with the help of unique internet solutions.
Genesis Block’s universal DPoS (Delegated Proof-of-Stake) blockchain ecosystem aims to utilise all the possibilities of open APIs, cloud technologies, biometrics, big data, AI, and machine learning.
Previous projects include the development of trading platforms, the creation of digital assets, and the development of money transfer systems.
JSC Dante Blockchain Technologies Corporation
This company owns its own virtual investment platform and cryptocurrency investment fund called Dante Capital, which provides an opportunity for each investor to diversify their portfolio across various cryptocurrencies and potentially increase their cryptocurrency capital using software products.
The company has managed to assemble a team of qualified programmers in the field of blockchain technology who also develop software platforms for banks and public companies.
Crypto Academy
This institution provides intensive educational courses on cryptocurrency and blockchain technologies. It offers group and individual training covering areas such as:
- Blockchain technology and trends in the blockchain economy
- Cryptocurrency investment and risk assessments of ICOs and tradable tokens
- Case studies of the introduction of blockchain technologies in businesses and the public sector
- Russian and international legislation
Conclusion
The register of trusted companies will allow Russian and foreign market participants to pinpoint the most trusted companies in the space to minimise the risk of fraud when creating and developing businesses in the field of mining, cryptocurrency trading, and blockchain technology.
Knowing who to trust is essential in a space so often filled with scams and fraudsters, and this register makes it easy for people to choose proven companies to work with to achieve their business goals.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.