If you’re updated with the tech world, you’d surely know the name of Pavel Durov. Durov is a 37-year-old tech genius who founded the social media networking site VK. After that, he also founded the widely popular messaging app, Telegram. Telegram has revolutionized the world of online messaging and how media is shared online. Durov was born in Russia but holds French citizenship. His amazing work at such a young age only makes his opinions valued more by the experts in the tech finance industry.
Recently, Durov issued a cautionary warning to the Russian government that no developed country has banned crypto as of now. Thus, banning crypto can not only make Russia seem primitive in front of the global audience but also prove harmful in a financial sense in the longer run.
The Context
This warning of his comes right after the blanket ban that has been put into place by the Bank of Russia and the Russian authorities. In line with this ban, all crypto-related activities have been prohibited in Russia. This move, according to most experts, including Durov, will definitely harm the image of Russia as a progressive nation. Its image has already not recovered after the cold war propaganda by the US. Moreover, not even China, which is being portrayed as the supervillain of this decade, has placed a blanket ban on cryptocurrency.
Conclusion
According to Durov, this ban will also hamper Russia’s ability to become a major force in the new economy. Thus, this ban should be rescinded as soon as possible.
