Vladimir Putin urged to develop a system of international payments on the blockchain

Yesterday, November 24, at the Sberbank conference on artificial intelligence, Russian President Vladimir Putin called for the creation of a new system of international payments, independent of banks.

The President emphasized that in the context of tense relations between Russia and By the West, financial flows and international payments are under threat. To avoid attacks on these directions, you need to create your own payment system. Putin noted that systems using a distributed ledger and digital currencies look the most promising:

“We all know very well that under today’s illegitimate restrictions, one of the lines of attack is calculations. And our financial institutions know this better than anyone because they are exposed to these practices. Today, the system of international payments is expensive, its system of correspondent accounts and regulation is controlled by a narrow club of states and financial groups. They control everything. Based on the technologies of digital currencies and distributed registries, it is possible to create a new system of international payments, and much more convenient, but at the same time completely safe for participants and completely independent of banks and third-party interference.”

Earlier, State Duma deputies proposed to allow trading cryptocurrencies on a state-controlled site. That is, to create a separate state crypto-exchange.