Russian Bank Executive Says Bitcoin is the Only Successful Blockchain

[jamie.redman1]

Over the past couple of months, Russian politicians and banks have been changing their tune when it comes to blockchain technology and cryptocurrency solutions. On February 21 Nikita Smirnov vice president of the state-owned bank Vnesheconombank had some positive things to say about the digital currency bitcoin. In fact, Smirnov believes the Bitcoin network is the only “successful” blockchain technology.

“Bitcoin is the only blockchain technology in the world that has widespread adoption,” explains Smirnov. “It has existed for several years already, people tried to hack it, but no one has succeeded. So right now, if you ask whether there’s another algorithm, which established itself as a solution to distributed consensus problem, then the answer is probably NO.”

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