Russian businessman proposes using Bitcoin to breathe new life into Crimea, building a cryptocurrency region

Golden Finance News - According to Rambler News Service, Boris Titofin, a Russian businessman and market observer, and a staunch Bitcoin supporter, has proposed creating a "kriptodoliny" zone in Crimea, Russia, similar to Zug, Switzerland (a free zone that only uses Bitcoin and other cryptocurrencies for transactions).

Russian businessmen proposed to establish a cryptocurrency area using Bitcoin in the Crimea region. Image source: Golden Finance

Boris Titofin hopes that this project will promote the development of Bitcoin in Russia and bring new opportunities to the Crimea region.

Boris Titovin said at the All-Russian Scientific-Practical Forum "Blokcheyn: Dialogue between Business and Government",

“Maybe we can create a region where cryptocurrencies like Bitcoin are used - Crimea.”

Titofin has proposed the project in Crimea, a region at the center of the conflict between Russia and Ukraine. The conflict has been sanctioned by many countries, including the United States, so using Bitcoin could breathe new life into the region.

Titofin said that gathering free groups of people in Crimea is a way to create a crypto-region, but it is difficult to control the process locally. Titofin believes that geographical boundaries can be verified through the Internet.

Titofin believes that such a zone could help solve sanctions-related financing problems. People could use Bitcoin and the internet to get around the blockade and finance Crimea in new ways.