The Russian Association of Cryptoeconomics, Artificial Intelligence, and Blockchain (RACIB)
The Russian Association of Cryptoeconomics, Artificial Intelligence, and Blockchain (RACIB) is a pivotal organization dedicated to advancing digital technologies within Russia. Established to unify developers and users of blockchain technology and artificial intelligence systems, RACIB plays a significant role in fostering the growth of the digital economy.
Mission Statement
RACIB’s mission is to serve as a catalyst for the integration of blockchain and artificial intelligence technologies, thereby contributing to the development of a vibrant digital economy in Russia.
Board of Association
Key Objectives of RACIB
Promotion of Blockchain and AI Technologies
- RACIB actively supports the integration and widespread adoption of blockchain and artificial intelligence across various sectors, aiming to enhance efficiency and innovation.
Development of the Digital Economy
- The association is committed to creating a robust digital economy by facilitating the development and implementation of cutting-edge technologies.
Collaboration with Government and Industry
- RACIB collaborates closely with governmental bodies and industry stakeholders to establish favorable regulatory frameworks and promote best practices within the industry.
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Notable Initiatives:
Global Crypto Mining Integration
- In response to China’s regulatory crackdown on cryptocurrency mining, RACIB launched a project to attract crypto mining firms to Russia. The association is working with federal and regional authorities, as well as state-owned enterprises, to facilitate this initiative. Notably, a group of Chinese mining companies, representing 25% of the global Bitcoin hashrate, is collaborating with RACIB on this endeavor.
International Expansion
- RACIB has been instrumental in establishing the International Association of Cryptoeconomics and Artificial Intelligence in Kyrgyzstan. This initiative aims to promote the spread and deep integration of blockchain technologies into the economies of participating countries and to legalize the use of electronic currencies based on this technology. The association plans to expand its membership to include more than 15 countries.
Educational Programs and Events
- The association organizes various events, workshops, and educational programs to disseminate knowledge and promote the practical application of blockchain and AI technologies.
Facts about RACIB
- RAKIB has prepared a draft Federal Law “On Amendments to the Federal Law “On the Development of Small and Medium-sized Businesses in the Russian Federation” and Other Legislative Acts of the Russian Federation” regulating the activities of the cryptocurrency market.
- At the request of the Expert Council of the State Duma Committee on the Financial Market, RAKIB has prepared an expert analysis of draft laws: “On Amendments to Parts One, Two and Four of the Civil Code of the Russian Federation”, “On digital Financial Assets” and “On alternative ways to attract investments (Crowdfunding)”.
- RAKIB President Yuri Pripachkin is a member of the Council for the Development of the Digital Economy at the upper house of the Russian Parliament, and the Expert Council on International Humanitarian Law under the First Deputy Chairman of the State Duma of the Federal Assembly of the Russian Federation.
- RAKIB has established a trading committee that certifies and trains cryptocurrency traders, as well as is responsible for developing a legislative and tax framework in the relevant field.
- RAKIB, together with its partners, has prepared a database of standard solutions for the digitalization of the public administration system in certain regions of the Russian Federation. It develops a network of regional representative offices and is present in foreign countries.
- RAKIB, in partnership with Plekhanov Russian University of Economics, is developing a Business incubator for innovative projects. A business incubator is a platform for high-quality collaboration, networking of investors, entrepreneurs and creative teams, allowing them to test ideas, create or develop their own business.
- RAKIB organized and held the BLOCKCHAIN ECONOMICS Award for outstanding achievements in the development of blockchain technologies, which was nominated by leading Russian companies and government agencies (Sberbank PJSC, Megafon PJSC, DIT of Moscow, Rosreestr, the Fintech Association and others).
- RAKIB held a congress of representatives of the crypto industry within the framework of the international forum BLOCKCHAINRF-2018, which was attended by more than 2,000 industry representatives.
- RAKIB initiated the creation of the International Decentralized Association of Cryptocurrencies and Blockchain (IDACB) to develop common standards for regulating this area.
- In September 2018, Chechen leader Ramzan Kadyrov and RAKIB President Yuri Pripachkin agreed to establish a Eurasian mining pool in Chechnya. The mining pool will be the first step in the implementation of the Crypto Chechnya program, which aims to develop the region’s economy using blockchain technologies.
- RAKIB is an official partner of higher education institutions in Moscow and the regions of the Russian Federation. Jointly develops and conducts training programs in the field of digital economy. The managers and representatives of RAKIB regularly conduct training events and give lectures.
