Russia’s Largest Browse Engine Yandex Interested in Integrating Bitcoin

Russia’s biggest online search engine and Internet-based providers Yandex is interested in incorporating bitcoin to its financial platform Yandex.Money, to enable its merchants to allow payments in bitcoin.At the Finnopolis FinTech Forum held in Kazan, Yandex.Money CEO Maria Gracheva revealed that the company is looking forward in supporting bitcoin payments. In an interview with Bitcoin Magazine, Nora Kirkizh, media relations supervisor of Yandex.Money additional discussed that bitcoin fits perfectly with the payment options offered by Yandex.Money, ranging from the online payment option made use of by more than 76,000 online shops, e-wallets, online banking services, and so on”We are absolutely paying close interest to cryptocurrencies,”the Yandex group informed Bitcoin Publication.”The innovation on which they are based can be utilized as the structure for great deals of different items,” said Kirkizh.”For example, Yandex.Money offers online stores Yandex Payment Solution. With this service they can allow payments from clients through bank cards, e-wallets, online banking accounts and other possible payment approaches. Presently, over 76,000 online shops utilize Yandex Payment Solution to process their payments. Undoubtedly, bitcoin would fit this range of methods completely. If it was one of the alternatives in Yandex Payment Option, users could easily use it to spend for items on any site. Nevertheless, up until cryptocurrencies are controlled by Russian law, we can not work with them viably.” Legality of Bitcoin In spite of the business’s interest in bitcoin and its benefits, the legality of bitcoin in the nation is still uncertain. While the Russian Central Bank prohibits using bitcoin, Russian president Vladimir Putin announced that bitcoin can

most likely be used in”some account.”Due to this uncertainty, the Yandex group plans to wait up until the authorities and the federal government accept making use of bitcoin for corporations and companies.” Various organizations have different mindset to bitcoin. Russian Reserve bank forbade this currency in the nation, for instance, although other organizations wanted bitcoin and suggesting to understand it better. We still do not know exactly what bitcoin will certainly remain in the near future, and there is not

a chance to work with it legitimately,”said Kirkizh.Yandex.Money currently has more than 22 million users, with more than 12,000 new accounts opened daily. Yandex thinks that bitcoin’s performance in processing payments and transactions might significantly benefit its monetary platform and might be offered as an option to charge card and bank payments.” Cryptocurrencies have

their pros and cons. On the one hand, it’s an economical technology and it’s very easy to carry out, and so as quickly as it ends up being legal to work with them, generally any payment service will be able to rapidly implement the technology,”continued the Yandex team.However, the Yandex.Money group is still fretted that the majority of their users will not wish to take the initiative to convert fiat-money to cryptocurrencies. Yandex will certainly consider incorporating bitcoin across their platforms as quickly as bitcoin becomes legal and the bitcoin industry in Russia starts to grow.” The audience for cryptocurrencies is still fairly small and it appears

like making simple and easy-to-understand items based on “real “cash will still be the sensible thing to do for some time to come. In order to transform live cash to cryptocurrency, users will need some sort of additional inspiration and an excellent amount of time. That will hold back the development of blockchains,”said Kirkizh.The post Russia’s Largest Browse Engine Yandex Thinking about Integrating Bitcoin appeared first on Bitcoin Magazine. Bitcoin Publication

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