Dmitry Peskov, the special envoy for digital development of the Russian president, expressed his opinion on DLT during a recent educational event.
“I have a very good attitude towards distributed ledgers, this is the future. Blockchain is one of the subclasses of distributed ledgers, and not the best one. The technology has a number of limitations, some of them are critical for use in the state administration, in particular, the issue of making changes… Imagine that the record in Rosreestr [cadastral and property database] was done incorrectly – you cannot change it even by a court decision. ”
He then proceeded to explain that only businessmen who are able to risk their money are investing in blockchain research, and state structures should think twice when it comes to blockchain solutions.
“At the current level of blockchain development, you can build isolated systems for freaks or implement them to fulfill some very limited, specific function” – concluded Peskov.