Russian political parties also develop cryptocurrencies to solve social affairs

According to Huobi Blockchain Research Center, the Russian political party Growth has created a blockchain platform powered by the Upcoin cryptocurrency to solve social affairs.

Russia has become one of the leading markets for cryptocurrencies and blockchain products, and its political institutions are also experiencing the benefits of blockchain technology. Russia’s Growth Party is one political party that has its own cryptocurrency solution to support social causes.

As its name suggests, Partiya Rosta - the Party of Growth - created a cryptocurrency called Upcoin with the help of Waves blockchain platform, a decentralized asset platform. The cryptocurrency is said to be the brainchild of party chairman Bobis Titov, who teamed up with Waves founder Sasha Ivanov to create the new crypto token in pursuit of his desire to create a positive, blockchain-based community.

With 10 million tokens created, Upcoin is distributed among active participants in community activities. To obtain tokens, people must first register on its portal - Ludirosta. These tokens can help community activities create a series of social benefits, such as discounts on educational programs and courses provided by partner institutions and community centers.

Upcoin is probably the first community-oriented initiative that encourages people to join and participate in social activities. Sasha Ivanov praised the platform:

“For those of us who have worked in this space for many years, increasing blockchain usage is a validation of our efforts… Of course, it’s also exciting to see Waves, our ‘people’s platform’ blockchain designed for the masses, being used as it was designed to be.”

According to Huobi Blockchain Research Center, although Upcoin is still in its early stages of development, it has set an example for privacy protection institutions around the world. At the same time, the success of the platform will encourage the Growth Party to further expand the platform, expand its scope of application, make the operation of political parties transparent, and encourage other political parties to do so, laying the foundation for clean politics.