Fintech digest: 70 Russians will be taught the digital economy for 650 million rubles, the US tax and cryptocurrencies, chatbots are getting smarter

    Last week has traditionally been eventful in the world of fintech. Many have distinguished themselves - both companies and countries. We highlighted the most interesting by presenting in this post. And no April jokes! Training, of course, is now expensive. But 650 million rubles for 70 people? Let's start with the digital economy in Russia. The government is going to spend about 50 billion rubles. to implement research and development in the field of digital economy. In particular, it is planned to spend about 1.37 billion rubles to develop strategies for digital transformation of companies. But the most interesting thing is not even this, but the fact that 650 million rubles will be spent on training 70 Russians in the digital economy abroad.

    The lucky members of the fintech students team will be required to return to Russia after completing their course, for which special items will be provided for in the regulatory framework. In total , about 950 million rubles from the federal budget will be allocated for the selection of graduate and master's programs .

    Cryptocurrency will be levied in the USA

    Despite the fact that the legislative framework of most countries is not ready to regulate the world of cryptocurrencies, there are still changes, and they are quite noticeable. In particular, the changes relate to taxation.

    The relevant U.S. agency issued a notice stating that it was necessary for U.S. citizens to report their own crypto earnings in income tax returns.

    Earlier, digital currencies were classified by lawmakers as property, which means they are subject to federal property taxes. Well, those who have not reported their cryptocurrency income may well receive fines, as well as the forced deduction of interest on income to the country's budget.

    For particularly malicious defaulters, even criminal prosecution is provided. The agency does not just remind about taxes. Credit Karma reports that last year, only 0.04% of its customers reported their own cryptocurrency transactions through tax returns.

    Chatbots will talk with bank customers

    Many banks use chatbots to speed up the customer service process. True, in most cases, such chatbots are not very smart. They answer outrageously to relatively simple questions, cannot recognize many customer requests and generally do not work perfectly.

    That is why the developers of banking chatbots very closely monitor the successes in the world of neural networks. And the success here is very significant.

    Neural networks and machine intelligence are making great strides. Some elements of these technologies are already being implemented by banks in their own services. For example, the “virtual banker” of the National Bank of Australia can recognize about 13 thousand variations of the 200 most frequently asked questions from clients. Another bank in this country introduced the IBM Watson service in the functionality of its chatbot to answer questions about loans.

    Similar systems are used by banks in New Zealand, the USA and some European countries, as well as Russia. Discuss the possibility of using AI in their services and the bankers of Israeli banks .

    Russia begins to regulate ICO

    The state is not too trusting in the field of cryptocurrencies and blockchain technologies. Recently it became known that the Ministry of Communications of the Russian Federation has prepared requirements for the issuance of digital tokens. The document, in particular, proposes to oblige the organizers of the initial placement of tokens to use the money from the sale of tokens to ensure the possibility of their repurchase from investors at a nominal price. Moreover, the organization with special accreditation will have to monitor the correctness of the ICO.

    The issue of digital tokens can be carried out only for Russian rubles through bank transfer. According to representatives of the cryptocurrency industry, all this goes against the very idea of ​​ICO. What is the point of conducting the initial placement of their tokens if the funds have to be kept intact without using them for the development of a product or service.

    “According to the document, it turns out that money needs to be collected in order to be able to give it away, and not to direct it to internal business processes and investments. In general, the document contains fuzzy formulations that can cause conflicts, in addition, it is not synchronized with existing bills, ”said Arseniy Shcheltsin, director of the Russian Association of Cryptocurrencies and Blockchain.

    That, in fact, is all for today. See you soon!

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