Comparison of Approaches to the Development of Blockchain Technologies in the Russian Federation and the People’s Republic of China

The relevance of the work is due to the desire of the BRICS member states to create an independent financial and technological infrastructure through blockchain technologies.In Russia, their development is based on the formation of a legal and regulatory framework governing the use of digital assets, mining, and the integration of blockchain into government and financial structures through the creation of the Goschain and Masterchain platforms, as well as the implementation of new projects to form international settlement systems such as the digital ruble and BRICS Bridge. The subject of the research is public policy instruments focused on the development of the conjuncture and technological infrastructure of the blockchain at the level of the national economy. The purpose of the work is to analyze and compare digital tools and measures taken by Russia and China within the framework of the state innovation policy for the development of blockchain technologies. The article examines China’s experience in improving blockchain technologies, and evaluates the possibilities of using China’s experience to improve the effectiveness of the blockchain development strategy in the Russian Federation. The article identifies key differences in the approaches of Russia and China to the development of blockchain technologies. It has been demonstrated that China is actively integrating blockchain into the process of digital transformation of the national economy. It is established that China’s strategy includes standardization of technology and support for cooperation between corporate and PPP projects. It is concluded that Russia adheres to a more balanced approach to the development of blockchain technologies in the domestic market.