The President of the Republic of Kazakhstan, Nursultan Nazarbayev, sees the future of the economy in the creation of a single global cryptocurrency, backed by specific assets and capable of replacing the dollar.
The confrontation between the traditional financial system and cryptocurrency continues. As cryptocurrency conquers more and more territory, government regulators in different countries are trying to curb the decentralized monetary unit. But no one yet knows how to combine an uncontrolled, universal and global cryptocurrency and a transparent emission mechanism. If such a solution is found and a single global digital currency is created, then the rules of world trade and the entire financial system will change completely.
Attempts to reach an agreement at the global level have not yet brought results. The five countries of the Eurasian Economic Union (EAEU) cannot come to a common opinion on how to perceive cryptocurrency.
The President of the Republic of Kazakhstan, Nursultan Nazarbayev, offers a way out of this situation. At the beginning of this year, he announced his intention to create a single global cryptocurrency, which will be “backed by specific assets, will be democratic and transparent.” Nazarbayev called on the world community to develop common rules for the use and regulation of cryptocurrencies.
In his opinion, the International Project G-Global Business Portal is the best suited for uniting international efforts. Expert and institutional support for the consulting marketplace has been repeatedly voiced at the G-20 summits.
On May 8, the Council of Foreign Ministers of the Organization of Islamic Cooperation, which includes more than 50 countries, adopted a resolution in support of the initiative to globalize the foreign exchange market and the creation of a new communication platform G-Global as the most influential force in determining international economic policy. Nursultan Nazarbayev proposes to implement this initiative at the UN platform, to involve the entire international community and develop global anti-crisis solutions.
Last week, the President of Kazakhstan held meetings with the heads of IT giants. During the discussion of today's global challenges, Nazarbayev noted that the reason for the emergence of cryptocurrencies not controlled by emission centers is the dominance of one currency in the world.. The new payment unit should help move away from global dollarization, stop currency wars and speculation, and reduce market volatility.
Today, Kazakhstan prohibits transactions using digital currencies. Despite tough measures of the National Bank, interest in digital currencies from the population of Kazakhstan is not decreasing, but only growing.
Read also: Donald Trump's former adviser said that a global currency is definitely needed, but it won't be Bitcoin.
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