Putin calls for blockchain-based international payment system

Amidst sanctions and increasing tensions, Putin turns to blockchain...

Putin says yes to blockchain transactions         In the wake of increasing sanctions         What's that he proposes?         Without being too verbose         A system forgiving his infractions As more governments embrace the blockchain and its decentralized nature, Russia has also begun showing an inclination toward the new technology in regard to its financial applications. But is it for the right reasons? On November 24, Russian President Vladimir Putin called for an independent and blockchain-based settlement network during his speech at the International AI Journey Conference in Moscow. "The technology of digital currencies and blockchains can be used to create a new system of international settlements that will be much more convenient, absolutely safe for its users and, most importantly, will not depend on banks or interference by third countries.  I am confident that something like this will certainly be created and will develop because nobody likes to be dictated to by monopolists, this harms all parties, including the monopolists themselves." This is not surprising given the current situation Russia's government finds itself in, with the slew of sanctions imposed upon it by the West this year following Ukraine's invasion.  Putin himself has labelled these sanctions as "illegitimate restrictions" — could his proposed blockchain-based international payment system be a life raft? Read the full story here on Cointelegraph. Keep up with all the most interesting events happening in the crypto space. Leverage the same AI technology that Cointelegraph's journalists use to surface the latest news with the NewsQuakes™ indicator that's only available on Markets Pro – learn more. Russell DeCorte Director Markets Pro © 2022 COINTELEGRAPH MARKETS PRO COINFIDENTIAL. Copyright © 2022 Cointelegraph Markets Pro, All rights reserved. You are receiving this email because you opted in at our website. Our mailing address is: Cointelegraph Markets Pro 21 W 46th St New York, NY 10036-4119 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.