Vladimir Putin recently extolled the merits of a possible international financial system based on a blockchain system during a conference organized by Sberbank. According to the Russian president, such a structure would be impervious to the current monopoly of the financial system in place exercised by “a narrow club of states and financial groups”.
Vladimir Putin touts blockchain for international settlements
At a conference recently organized by the Sberbankthe largest credit bank in Russia, Vladimir Putin praised a hypothetical blockchain-based international payments system.
Thus, the Russian president has favored an independent system based on the blockchain, which would be based in particular on the use of central bank digital currencies (MNBC). Alluding to the various financial sanctions imposed by the NATO coalition, Vladimir Putin criticized the centralization of the current financial system :
“The technology of digital currencies and blockchains can be used to create a new system of international settlements which will be much more convenient, absolutely safe for its users and, above all, which will not depend on banks or the interference of third countries. I am convinced that something like this will certainly be created and will grow, because no one likes the diktat of the monopolies, which harms all parties, including the monopolies themselves. »
A wish that directly echoes an intervention last September by Anatoly Aksakov, the chairman of the State Duma committee on the financial market, who declared last September that the ongoing conflict had forced Moscow to develop parallel financial solutions to deal with international sanctions against it.
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A Russia now favorable to blockchain and cryptocurrencies
According to the Russian President, it is abnormal that some countries can jointly sanction another and it is crucial that a international system impervious to this kind of sanctions is put in place :
“The current system of international payments is expensive, the system of its correspondent accounts and regulation are controlled by a narrow club of States and financial groups. »
Russia is thus continuing its statements and actions in favor of the use of blockchain technology, and even cryptocurrencies, as has recently been the case. Indeed, as we reported, the Russian State Duma is currently working on the development of a nationwide cryptocurrency exchange through a regulatory framework defined in agreement with the country’s central bank.
Moscow is also working on the definition of a project aimed at legalize cryptocurrency mining activity on Russian territory and the sale of these. On this subject, Vladimir Putin had also declared in January that Russia “ had a competitive advantage in cryptocurrency mining “.
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