Russian Baidu Yandex bitcoin market outlook

Russian Baidu Yandex bitcoin market outlook

Russia’s largest search engine and Internet service provider Yandex intends to bitcoin into their Yandex.Money financial platform, the platform convenient traders to accept bitcoin payments.

In the new financial technology forum Finnopolis Kazan held, Yandex.Money CEOMariaGracheva announced that the company is committed to the development of bitcoin payment service. In bitcoin magazine BitcoinMagazine on the platform of media relations manager NoraKirkizh interview, explained the bitcoin perfectly Yandex.Money provides payment services, service scope covers the platform more than 76 thousand online stores, online banking and electronic wallet service etc..

“We will vigorously focus on virtual currency.” The Yandex team said in a magazine interview. “The use of bitcoin technology can be applied to other areas,” said Kirkizh, “for example, Yandex.Money provides payment services on the platform of the online store, through this service, merchants can accept consumers through the bank card, electronic wallet, Internet banking and other forms of payment to complete the shopping. In fact, bitcoin may be the perfect completion of a series of this process, consumers through the use of Yandex to provide payment services, payment easy on any website. However, the current Russian law on virtual currency is still limited, we can’t use it.”

Bitcoin in Russia’s legitimacy

Although many Russia Company are bitcoin and its advantage had a strong interest in, but not the legal nature of the Russian bitcoin conclusion. 虽然俄罗斯中央银行禁止使用比特币,但是俄罗斯总统普京却说,比特币可以在“某些账户”中使用。 Because of the legal definition of bitcoin has not yet been determined, the Yandex team plans to the relevant authorities and the government agreed to a company or organization to take action after the use of bitcoin.

The different agencies have different attitude towards the treatment of bitcoin. For example, the Russian Central Bank banned its use, but other institutions and organizations interested in bitcoin and hope that the public know more about its benefits. We are still unable to predict the fate of bitcoin in Russia, also do not know whether it will have the opportunity to legalize.” Kirkizh said.

Yandex.Money currently has more than 22 million users, every day there will be 12 thousand new accounts. Yandex believes that bitcoin in payment efficiency in the transaction process will be of great advantage to the financial platform, and also can be used as a substitute for credit card and bank payment.

“Virtual currency has its advantages and disadvantages. On the one hand, it is a cheap, easy to operate, once it is legalized, basically all the payment service providers can quickly implement this technology.” The Yandex team continued.

However, the team also expressed their concerns. They worry that most users will not take the initiative will be converted into the currency of virtual currency. Yandex considered if bitcoin legalized in Russia and the development of the industry, the platform will be integrated with bitcoin.

“The support of virtual currency is still a minority, but at present, it is easier to understand on the basis of” cash “shopping. In order to make real money into a virtual currency, users need some extra motivation and more ample time. But this will slow down to some extent block chain technology.” Kirkizh said.

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