Lukashenko met with the members of the Belarus IT sector to discuss the prospects and benefits of innovative technology and the digital economy. According to a report from national news agency BelTA, the meeting took place in the national Hi-Tech Park (HTP) — a project that was set up with the presidential support.

The ‘Daddy’ of Belarusian Fintech

The head of Belarus is often referred to as ‘batka’ (‘daddy’) because of his drive to promote himself as a ‘man of the people.’ This time, he once again confirmed this ambition by stating:

You are my children. I’ve created you with my own hands as well as I could. You wanted cryptocurrency, crypto exchanges, crypto mining, and the rest. You wanted to set up the farms… Now you are grown up and can suggest where we move on from here. We are going to move in this direction as effectively and as far as you would like.

Lukashenko urged the IT community to report to him all of its needs. The state will resolve any problem and keep supporting the fintech industry at the top governmental level, he added.

“I will not let anyone offend you,” the president assured.

Crypto-Friendly Belarus

Lukashenko also informed the audience about his plans to set up a big data-center for crypto mining in the vicinity of the Belarusian nuclear power plant. The president said he had reserved some space for mining farms there to mine and sell Bitcoin (BTC). The physical launch of the plant’s first unit is scheduled for fall 2019.

Moreover, Lukashenko said he had ordered a review of the actual need for creating a digital economy ministry. The final decision on this matter should come in Q2 2019.

The recent developments demonstrate how Belarus is firmly determined to improve its image with western businesses and become a global technology hub. Lukashenko intends to use the popularity of cryptocurrencies to boost the fintech industry growth and benefit from this.

Do you believe that Belarus has the potential to become the world-renowned fintech hub? Let us know your thoughts in the comments below! 

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