There are 13 Companies in Russia
that provide Blockchain Services!

The IT industry is a strategic segment of the Russian economy, as its growth rate exceeds the GDP dynamics, and this trend is likely to continue in the future. Further development of the IT industry requires skilled professionals, and the government relies on increasing the number of students receiving education in IT by involving experienced local business mentors and foreign experts.

One of the key objectives of IT public policy is the creation of favorable conditions for the active development of technological entrepreneurship in Russia, including

the introduction of tax reform and ensuring the availability of grants to finance promising ideas. The number of successful IT-related business projects and contracts in the venture capital market is increasing.

Why Work With Russian IT Companies

The market of information technologies in Russia forms due to the activity of the companies of the following segments: computer and network equipment, software, and IT services. The continuous development of the sector and innovations made Russian companies key players in accessing the region and developing IT & software solutions for the internal market, as well as businesses that are interested in the Russian digital market. 

Due to the accent, the Russian IT professionals put on cybersecurity, the demand for these types of services and products has seen growth from foreign companies, according to a study made by T Advisor in 2019. The market of cybersecurity in Russia continues to grow with an expected revenue of $3.5 billion by 2025.

What to Be Aware of When Working With Russian IT Companies

Bans and restrictive legislation prevent Russian IT companies from speeding up the growth process of the entire industry and restrain them from exporting digital services and goods. This is one of the reasons why many Russian companies relocated to places with a more accessible market, to the west in Europe or to the south, in China. 

Another thing worth being aware of is the technical skills of IT specialists from different regions of the country. Since the talent is not equally distributed across all regions, many Russian IT companies lack experience and professionalism in communication and project management, which may be a challenge for potential clients. 

How Reliable Are Russian IT Companies

The specific taste of doing business with Russian companies remains nothing more than the ‘90s stereotype, but plays an important role in conceiving IT companies and startups as reliable.

In their struggle to combat the stereotypes, many Russian web agencies and IT companies explored other ways of cooperation and attracting customers, including by lowering prices and offering additional services compared to what Western IT companies and web agencies do.

How Does the Russian IT Industry Relate to the Neighboring Countries?

When it comes to neighboring countries, the Russian IT industry finds itself in an interesting position. With China as one of the biggest IT players in Asia and an open Ukrainian market to the west, Russia has not had too many choices to handle, mainly the internal market, which creates enough demand for local web companies. This has led even to several attempts to “disconnect” from the World Wide Web network and create their own independent one. However, most IT specialists consider that the Russian IT industry will not be able to exist without a connection to the global market.

Blockchain Service gives companies the ability to develop, host, and use their own blockchain apps, smart contracts, and other features on the blockchain infrastructure built by a vendor via cloud-based solutions.

Blockchain is one of the most rapidly evolving IT technologies. There are over 83 Million blockchain wallet users worldwide, according to Buy Bitcoin Worldwide report.

Blockchain boosts business competitiveness without investing in research, planning, or infrastructure and the advantages to choose blockchain service providers for your company are: 

• Improved safety
• Increased accountability
• Real-time tracking
• Automation
• Enhanced productivity

It's not simple to pick the best blockchain service providers to deal with. There are several things to think about:

• Location
• Price
• Team size
• Previous experience
• Turnover time
• Communication means

Blockchain technology solves urgent problems in a variety of industries, including healthcare, logistics, manufacturing, and information technology. Businesses across a range of sectors may undergo substantial transformations by combining blockchain with disruptive technologies like AI, Big Data, and Cloud.

There are almost 1,900 blockchain service providers on our platform which offer a wide variety of solutions that will enhance your ecosystem's scalability, security, and transparency. Explore their profiles and feel free to get in touch with them.

Is Blockchain Still a Trend?

Blockchain was initially created for Bitcoin, but in recent years it serves other purposes beyond cryptocurrency. It has the capabilities to provide increased safety, and minimize fraud. The security and transparency are ensured because every transaction in the Blockchain industry is grouped into blocks, then they are connected into a secure chain, creating a tamper-proof record. 

The Blockchain industry has applications in multiple areas like cryptocurrency, asset management, IoT, cross-border payments, and more. Additionally, it has the potential to define the world of tech through its:

• Interoperability and cross-chain solution

• Decentralized Finance (DeFi) 

• NFTs in intellectual property 

• Sustainability & green blockchain

• Integration with IoT

Blockchain applications have prioritized personal privacy, made it possible for smart contracts, the integration of IoT, and can be leveraged by the government, showing its potential for the future tech world.

What is a Blockchain Developer?

A Blockchain Developer is a software developer who works with Blockchain technologies for programming, developing, and testing software and systems. There are two main types of Blockchain Developers:

• Core Blockchain Developer - develops and maintains the architecture of Blockchain systems

• Blockchain Software Developer - builds applications onto existing Blockchain platforms

Some of the responsibilities of of a Blockchain Developer are:

• Keeps the data related to digital transactions secure

• Uses programming languages for building applications

• Works in the development and deployment of smart contracts

• Engages in the design and creation of Blockchain network architecture

• Troubleshot the issues in the Blockchain network

What is the Cost of Hiring Blockchain Developers in Different Countries?

The cost is dependent on the country, in Europe for example expect to pay at least $30-70 / hour for blockchain development services. TechBehemoths lists hundreds of blockchain development companies from all over the world. You can easily filter the companies by price or region.

The hourly rate it’s just one criterion to keep in mind when you look for a blockchain service provider for your business needs. There are many other aspects to consider like company location, services, team size, portfolio, etc.

TechBehmoths has an advanced matching system to help you find the right blockchain service provider for your projects.