Sergey Ivliev, the head of the Laboratory for Cryptoeconomics and Blockchain Systems at Perm State University, told CoinFox about the main research trends and legislative perils for blockchain in Russia.
- What are your current research projects at the lab and what research trends seem the most relevant these days?
- The Laboratory has been created fairly recently. As a starting point, we chose a deeper study of the bitcoin economy and are now working on an article concerning the math modelling of bitcoin pricing and the prime cost of mining. At the same time, we have an ongoing project on the optimisation of internal settlements within a holding company using a combination of central clearing with p2p payments. For this project, we are creating a simulation payment model to be used for various types of clearing.
- Have the Lab’s projects attracted interest from Russian or foreign companies yet?
- Yes, the clearing optimisation research was encouraged by an international organisation including about 250 company members belonging to different jurisdictions. Their current expenses from international SWIFT transactions and FX conversion exceed $2 bln. Cutting these expenses, even if partially, would save them considerable money. For this project, the blockchain technology is considered not so much in connection with cryptocurrency, but as a basis for keeping a p2p ledger of payments between members of a holding and for optimisation of their liquidity profiles. The calculations made using our simulation model show that transition from the current practice of central clearing to the mixed scheme would help reduce bank transfers by 15-20%.
- When is the Laboratory’s first release due? Will it be an open source product or a proprietary code for a particular client?
- Our Lab’s speciality is not development of commercial products or services for blockchain, at least, not in the near future. At the same time, we are ready to offer scientific research in this field. Due to our specific position, so far our main research projects are made for Swiss company Lykke. The company develops a blockchain-based digital assets exchange and often have to deal with specific tasks requiring research. It may concern, for example, cryptocurrency market infrastructure or optimised algorithms for liquidation or opening of large positions.
- Would a ban on cryptocurrencies impede the progress of crypto- and blockchain technologies in Russia?
- There is no ban as such, so far that is, but there is uncertainty concerning its possible introduction which does not help the development of blockchain systems in Russia. Let us hope we will avoid the worst scenario and open blockchains of bitcoin and Ethereum will stay legal. Otherwise, in an attempt to build our own “local Internet” disconnected from the rest of the world, we risk ending up in complete isolation.
Elena Platonova
