Putin called for international settlements based on blockchain and digital currencies.

Russian President Vladimir Putin has called for setting up a new scheme and system for international settlements independently without the interference and involvement of banks and third parties, where the Russian leader was quoted by local media as saying that it would be based on digital currency technology and ledgers. can be created using Wherein Putin was speaking at a successful conference dedicated entirely to Artificial Intelligence and organized by the country’s largest lender and during his address he emphasized that the tense atmosphere prevailing between Russia and the West i.e. Among the problems that remain are financial flows and payment systems between nations at risk.
He further added that we all know very well that one line of attack by today’s frivolous sanctions comes through settlements and many of our financial institutions know better that they are clearly exposed to these practices where they Elaborating on the sanctions imposed on the Russian Federation by the invasion of neighboring Ukraine, which has limited its access to global finance and markets, he also pointed out that today’s international payment system is too expensive, according to a news agency report and come with correspondents and regulation controlled by a small club of states and financial conglomerates.
Based on the technologies of digital currencies and distributed ledgers, we can say that it is entirely possible and convenient to build a new system for international payments, but at the same time completely secure for participants and completely independent of banks in third countries. intervention from and much more where Putin explained that this was expressed by the crypto news, RBC Crypto and the media where Russia is considering crypto regulations in the past month to facilitate cross-border payments and in September in Moscow A successful mechanism for international cryptocurrencies is starting to form by the authorities, and reports suggest that both Russia and Cuba have already discussed the matter under sanctions.