The draft decree "On the development of the digital economy", which removes obstacles for development of food companies, regulates the concept and turnover of crypto-currencies and other projects on the block chain, will be signed before the end of the year. Jonathan Brender, managing partner of the Israeli fund, ATOORO, explained why the assumption of the decree will be a breakthrough event of Belarus’ ecosystem.
"The decree solves the biggest problem which is facing IT community in Belarus. This is the lack of necessary legal instruments in the legislation, allowing foreign venture funds to invest projects in your country. This decree contains all the necessary norms, generally accepted in the world", said Jonathan Brender.
Education and venture capital are vital fuel for the IT industry. "It's one thing, when just outsourcing companies fulfill orders, increasing the capitalization of foreign companies and products, and it's quite another matter when creating their own industry, with their products and developments, their own IT capital", the expert explained.
"Belarus is a magnificent, but not fully disclosed treasure with the smartest programmers. Our fund invests in seven countries, I will be honest (I said it at a meeting yesterday): I had never met specialists, programmers, of such a level", Jonathan Brender assured.
He quoted the words of his teacher, ex-president of Israel and native of Belarus Shimon Peres: "He said: when there is nothing, everything can be done. And when I look at this decree, this is all that is necessary. Firstly, it is a speech about the legal status of what is being done on the technology of the block chain. You cannot even imagine how much international venture capital markets today are looking for applicable jurisdiction to develop this sector of the industry. Block chain, without exaggeration, today is a technological revolution, equal to the appearance of the Internet. We just do not understand this yet, but in a year or two it will be too late. In Belarus, it became possible to create the first jurisdiction on the planet Earth with the right legislation, qualified workforce, which will create a platform for foreign investors to conduct their activities in the field of block chain, which in a few years will change our life in the way the Internet has changed it. And this applies practically, to all industries".
Jonathan Brender urged not to be afraid that in the pursuit of earnings on new technology, illegally acquired capital may come to Belarus. "For this case, the state and the High Technology Park (HTP) exist as a guarantor and regulator of this activity. It's even hard to believe that some illegal activity will be possible - there is legislation, and there is no reason to think that it will be violated. It's like to prohibit people from leaving the house, because outside they can commit a crime. My colleagues and I are engaged in science in Belarus. If we are suspected of something, then it is those, who are afraid of everything new. We are not afraid of innovation. The new is a chance, and Belarus can use it to develop the economy and create new highly paid workplaces", the ATOORO Managing Director stated.
The Israeli expert was also impressed by decision to pay a special attention to the education and increase the number of programmers in Belarus. "Today in Israel, 24 thousand lack of programmers. I'm not talking about high-qualified specialists; it's about middle-level programmers. And this is in a country with a large economy, where this year alone, exits worth more than $ 20 billion, including the purchase of Mobileye by Intel for $ 15 billion, were committed. And there is lack of programmers. The world is changing - the creation of educational institutions for the education of IT specialists is as important as the national security and the provision of food", said Jonathan Brender.
He recalled that the ATOORO fund, on the basis of several meetings with the leadership of the HTP this year, has already made a decision at the level of the Board of Directors about the commencement of work in Belarus. "We are waiting for the adoption of the decree. We do not need anything else. This decree will make Belarus a regional hub in the field of technology. And this is no longer outsourcing, investments for development of science can come to the country. The term "IT" is beginning to become obsolete, our fund invests, first of all, in scientific and medical projects. This requires money and specialists. Belarus has specialists, now we must take care of money flow into the country, venture capital. The adoption of the decree resolves this issue, " concluded Jonathan Brender.
Based on tyt.by materials