We are introducing you a new TerraMiner advisor – Victoria Lebedeva, head of the operational management department of Sobinbank JSC.
Victoria, how do you assess the prospects for blockchain technology and cryptocurrencies at the Russian financial market? Initially this technology emerged as an alternative to fiatic money and the banking system at its current state. Being a bank employee, do you consider this technology to be your competitor?
The blockchain technology, as a mean to securely store and transfer data, has great prospects, given the territory of our country and its population. As far as I know, the elements of blockchain are already being implemented into healthcare, in particular, to the system of drugs distribution, and to the ‘Rosreyestr’ real estate registration process. As for the cryptocoins and the technology of storing and transferring money without intermediaries, I don’t think that now it’s a threat to the Russian banking system. Our legislation does not allow billing in cryptocurrency at the moment. Even in case of some progress in this regard, legal entities will be the last ones to adopt it. And until then they are obliged to have bank accounts.
Do you think that cryptocurrency transactions will be allowed in Russia one day?
Now it is only allowed to store and transfer cryptocoins. Recently, the authorities paid interest to this issue, and now legislative initiatives are being prepared. However, I tend to believe that we are unlikely to follow the path of Japan, Switzerland and Germany. Perhaps, cryptocurrency operations will be allowed to private individuals, but they will be banned for financial organizations – you know, the Chinese way.
Do you consider the TerraMiner project to be promising, and do you advise people to invest in it?
Mining, like any other activity, is only profitable when the income is higher than the overall cost. The TerraMiner project plans to leverage the cheap electricity of Shaoguan, China, a powerful equipment and, what matters the most for me, the intellectual potential of an experienced team. The income generation process detailed at the website in ‘Whitepaper’ section makes perfect sense for me. As to whether I advise people to invest, it depends on the amount of investment and the capabilities of each individual. The payback is fairly fast, so if your investment is tiny, there’s no need to worry. The potential for large investments is more difficult to assess. Unless there is a force majeure of any kind, the profit will be satisfactory. And in case of unforeseen circumstances, the project enters into an equipment pledge contract with those who invested $10,000 and more. I think that's fair.
Victoria, thanks for your comment and for the willingness to cooperate!