Business programme

Mining Growth in Russia’s Digital Economy

16 Jun , 17:00–18:15
Modern Technology for Humanity: Building a Responsible Future

Russia’s competitive mining advantage stems from the country’s surplus of electricity and its trained workforce. Available generating capacity with a high share of HPP and NPP generation in the energy balance, an abundance of low-carbon generation, space for the development of the domestic power grid and, as a result, inexpensive, predominantly green electric power all work together to create highly favorable conditions for investment projects in cryptocurrency mining and other types of energy-intensive blockchain computations. In fact, energy advantages of this kind are already attracting domestic and foreign investment in projects to build super-modern data centres for mining, and through them to related segments of the Russian digital economy: software and hardware development for new digital financial platforms, the creation of programmes for exchanging and circulating digital currencies, personnel and software training to meet security and data protection requirements, customer identification, and transaction control. What other ways are there to drive investment in these sectors? What do we need to do occupy a leading position in the global digital economy in spite of external constraints?