​ SON OF RUSSIAN PG INTENDS TO DEVELOP CRYPTOCURRENCY BUSINESS IN TRANSNISTRIA

Igor Chayka, son of Russian Prosecutor General gave an interview to the Russian RBK agency and said that he intends to develop in Transnistria a business with cryptocurrencies.

He said that he is considering the possibility of creating mining farms in Transnistria and called on Russian investors to analyze this direction. A mining farm is a highly productive computer, which helps extracting cryptocurrency in exchange for electricity.

“For implementing this idea, Transnistria has already created all the necessary conditions, both technical and legislative. Thus, its introduction and the start of work is a matter of time. The Transnistrian government says they are at the fourth place in Europe in terms of speed and coverage of Internet, they have very cheap electricity, while this is one of key conditions for creating mining farms”, said Chayka, who is founder of the company “Russian Exports”.

Igor Chayka was part of the group of business people, who visited Tiraspol in the second half of July. They should have participated in festivities on the occasion of the 25th anniversary of peacekeeping operation in Transnistria together with Russian Deputy Prime Minister Dmitry Rogozin. As Rogozin was banned flying via Romanian airspace and failed to come to Chisinau, business people neither participated in ceremonies in Tiraspol. Moldovan authorities delayed their departure from Chisinau till late night.

At the beginning of September, Chayka has again come to Chisinau at the invitation of President Igor Dodon. The Moldovan head of the state wrote on Facebook back then about the perspectives of developing business with Russian investors. After meeting with Dodon, the Russian businessman went to Tiraspol and discussed his projects with Transnistrian leader Vadim Krasnoselsky.

On this occasion, the RBK ironically wrote that Transnistria, due to Chayka’s help, “found a new recipe for economic development: to give up its addiction to free Russian gas and to get hooked on the cryptocurrency”.

“Of course, there were great hopes for the gas component, the so-called gas addiction. I propose to renounce it and finally engage in economy”, RBK cites Krasnoselsky.

“What we saw in Transnistria is that, from our point of view, in general, Transnistria has great possibilities to enter in top five countries which can do this now. The PMR has quite high capacities on electricity; its legislation is more or less ready. As they say, their legislation is ready to attract foreign investors in the sphere of cryptocurrencies”, said member of the “Business Russia” General Council Sergey Malofeikin, who was member of the business delegation, headed by Igor Chayka.

The Moldovan portal omg.md points that Russian investors rely on cheap electricity in Transnistria, because the creation of cryptocurrency needs large volumes of electricity.

“The Russian entrepreneur, who is one of Igor Dodon’s business partners, did not specify that the cheapness of Transnistrian electricity is due to payments of consumers, who live in the mainland Moldova. It is known that Transnistria is not paying for the Russian gas, used for producing electricity, while its cost is completely shouldered on Moldovan consumers”, the omg.md says.

The mining implies allocation of calculating capacities for checking and implementation of cryptocurrency transactions, for which certain remuneration is paid. The “extraction” of the so called bitcoins demands much electricity. In this regard, the development of mining farms is unprofitable even in the very Russia, where prices on electricity are by factors lower than in Moldova.

President Igor Dodon and Moldovan authorities did not give any comments on this topic.