"Russia had two options for its technological development," said Vladimir Demin, head of VEB's blockchain competence centre. "It could have chosen to try to catch up with countries that were already far ahead in technology, which was a feasible way, but not a very interesting one.
"If we had chosen, for instance, to catch up with paging technologies back in the 1990s, we would have eventually caught up, but this would have led us nowhere. No one uses pagers any longer."
According to Demin, Russia chose to focus on upcoming technologies that are new everywhere, such as blockchain, quantum computing, artificial intelligence and big data. It is in these areas that VEB intends to be at the forefront of technological innovation.