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makes it possible to reliably control the flow of transferred funds and eliminates the possibility of funds being withdrawn outside the target exchange circuit.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
You May Also Like
Cambodia plans to introduce a national digital currency
At the ASEAN Blockchain Summit, it became known that Cambodia is preparing to issue a national cryptocurrency. This is not surprising considering the fact that the Cambodian crypto community is constantly growing. The possibility of introducing a digital currency in Cambodia was announced after the launch of the Venezuelan ElPetro.
Cryptocurrency equivalent of fiat money could bring economic benefits to Canada
A cryptocurrency issued by Canada's central bank could benefit the economic well-being of Canada and the United States.
