Search engine giant, Google, has released analytical data based on search engine queries for keywords related to cryptocurrencies, Bitcoin and Ethereum which have come from Russia.
The company stated, “Despite the fact that the first cryptocurrency was launched in 2009, the greatest surge of interest of Russian users to this industry came in the first half of 2017. Just imagine, from January to June the number of requests for the industry as a whole increased by more than 250%.”
Searches related to Ethereum, the open-source, blockchain-based computing platform, saw the highest growth with an increase of just over 760% during the 6-month period which was analyzed. While not on the scale of Ethereum, searches related to the original cryptocurrency, Bitcoin, were up a respectable 220% according to the report.
There has been mounting speculation over the past several weeks as to whether Russia will legalize and regulate a cryptocurrency trading platform. The country’s Deputy Prime Minister, Yury Trutnev has claimed the Voskhod trading platform has been approved by the central bank. He also mentioned that Bitcoin mining companies could partner with business from Russia’s energy sector.
Google’s results appear to align with this. Cryptocurrency mining searches rose by an impressive 560%, plus mining and cryptocurrencies gained places in the top 100 queries using the words ‘how’ and/or ‘what is’.
Initial Coin Offerings, commonly referred to as ‘ICOs’ was another big mover. Whilst not releasing the actual numbers, Google reported that this search term for the same 6-month period (Jan – June 2017) had “significantly increased”.
The Khabarovsk region in southeastern Russia was one of the areas which saw the greatest increases. Crypto-related searches in general jumped up by 309%, while more specific terms such as Bitcoin (up 317%) and Ethereum (up 1114%) were also above the national average.
Locals in Kaliningrad aimed their searches more towards mining specific information. This area saw an overall increase of 674% during the first half of the year. This huge increase is likely to be connected to the report which suggested Kaliningrad could be chosen as a pilot region for Bitcoin to be traded as an open currency.
Note: this anchor text ‘Russia will legalized and regulate a cryptocurrency trading platform.‘ could be internally linked with the other Russia news story.