Lacking major natural resources Armenia should focus on IT industry, Ripple Labs Inc.

Lacking major natural resources Armenia should focus on IT industry, Ripple Labs Inc.

YEREVAN, May 31. / ARKA /. Lacking major natural resources Armenia should place focus on information technology development, Stefan Thomas from Ripple Labs Inc., told ARKA.  Stefan 

Thomas has been invited to participate in the sixth "BarCamp Yerevan- 2014" informal gathering.

In this context, he highlighted the importance of events like BarCamps, which represent the potential of Armenia’s IT industry. He also praised the organizers of this event saying the participating young people are well informed.

About two thousand IT specialists, including programmers, bloggers, online journalists, have gathered in Yerevan for the event.

Armenia’s information technology industry has been growing 20 percent on average over the last years. Some 380 IT firms are said to employ over 10,000 mostly well-paid engineers and other specialists. Of them 159 are foreign-owned or act as representative offices of large international companies. 

The IT industry accounts today for 3.8 percent of the national GDP. According to an IT development strategy, its turnover is to surge to $1 billion by 2018. 

BarCamp is a series of events initiated first in the U.S. Silicon Valley in 2005. BarCamp events focuse on information technology, global network and media. It is often called an unofficial meeting with a series of informal presentations and reports. 

The participants place various issues on the agenda and jot down the topics of their reports and their schedules on a blackboard. The first post-Soviet state to organize a BarCamp was Ukraine in 2007. 

In February 2008, BarCamp Baltics took place in Riga, followed by BarCamp Caucasus in Tbilisi in June 2008.  The first BarCamp Yerevan took place in  2009 April. -0-

16:03 31.05.2014

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