Advisor to the President of Russia and Academician of the Russian Academy of Sciences Sergei Glazyev, in his interview with Gazeta.ru, stated that the release of a national Russian digital currency will help reduce dependence on the Western economy.
The world economy is dependent on the dollar, which makes it possible for the United States to block various areas of foreign trade, which, in turn, stimulates high interest in digital currencies.
“A positive factor in the introduction of digital currency is the creation of a high-tech and secure system for the exchange of interbank information, including for international circulation. This fact becomes especially important against the backdrop of sanctions, which creates constant risks of disconnecting Russia from relevant Western solutions,” Glazyev said.
“We We see that banks turned out to be very vulnerable to sanctions, including Russian banks. The degree of dollarization of the world economy is so high that the Americans can actually block large segments of foreign trade with their sanctions, and, naturally, this creates new demand for cryptocurrencies. This is objectively true, this applies not only to Russia, but also to all countries against which the Americans apply sanctions.
Glazyev also believes that with the help of national cryptocurrencies and the use of smart contracts on the blockchain, there is an opportunity to improve. government procurement system.
“The use of distributed registries makes it possible to reliably control the flow of transferred funds and eliminates the possibility of funds being withdrawn outside the target exchange circuit. Digital money can significantly improve the efficiency of spending budget funds in areas such as government procurement. Due to transparency, the possibility of using smart contracts and, as a result, more accurate control and audit of government procurement,” noted the adviser to the President of Russia.
According to https://www.gazeta.ru
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