The country has all necessary resources to develop “the economy of the future”, according to Boris Titov, business ombudsman for the Russian president. This will help Russia to do away with oil dependency.

Blockchain development is included in the programme “The Economy of Growth”, a document created by the Party of Growth headed by Boris Titov. The official emphasises that support for blockchain research and blockchain products' development is of particular importance.

“It is of no less significance than the creation of the Internet. If today we attract all main technologies and investors in the sphere of the blockchain and cryptocurrencies, having all the resources, both geographic and human, we would advance to take place among the leading countries of the world not only in this sphere but in general.” 

The overall focus of the economic programme outlined by Titov can be described as the “new industrialisation”. It implicates both improvement of the traditionally dominant fuel and energy segment and development of the “economy of the future”: information and digital technologies, advanced engineering services, composite materials, genetics and biotechnologies. 

“The new Duma (parliament - CF) must become the first ‘non-resource’ Duma in contemporary history. Therefore, first thing we will enter a package of bills, including those on taxation. We stand for the ‘new industrialisation’, which would stimulate the inflow of hi-tech investments to the real economy.”

At the same time, Titov admits that the new economic programme put forward by his party runs counter to the current strategy promoted by the government and Central Bank.

“First of all, we are in opposition to the current economic policy adopted by the government and Central Bank. Unfortunately, so far the President backs them, but we hope it will change soon.”

The election to the State Duma will take place in September 2016. Titov believes, the Party of Growth can win 7 to 10% of votes and get into Russian parliament.