Russian President’s Advisor and academician of the Russian Academy of Sciences Sergei Glazyev in an interview with the publication “Argumenty Nedeli” shared his opinion about the cryptocurrency.

Digital revolution

ASKED BY A JOURNALIST WHETHER HE CAN REPLACE THE CryptoCURRENCY WITH A DOLLAR, HE SAID: “THE APPEARANCE OF A NEW TYPE OF MONEY IS EXTREMELY RARE AND MARKS A NEW STAGE IN THE DEVELOPMENT OF NOT ONLY THE MONEY BUSINESS BUT ALSO THE ECONOMY AS A WHOLE”

“The principal difference between digital money and currently used is not their paperless (electronic) form, but the absence of banks as their issuers. In essence, they are not banknotes (bank notes), their emission is carried out by means of a computer algorithm, protected from copying by means of cryptography. And here the question arises who is the issuer of these currencies. You can talk about the appearance of a new type of money in circulation. ”

Further, he also spoke about the attractiveness of the national cryptocurrency: “The national digital currency is a kind of answer to the challenges of private cryptocurrency.”

Can help circumvent the sanctions

“DESPITE ALL THE RISKS AND PROBLEMS ASSOCIATED WITH THEIR TREATMENT, THEY CONTAIN SOME VALUE THAT ATTRACTS REGULATORS IN ADDITION TO THE STATE”

Earlier, Glazyev spoke about the possibilities of the cryptocurrency to circumvent the sanctions. Speaking about the fact that the Cryptocurrency helps “create a high-tech and secure system for exchanging inter-bank information,” he added: “We see that banks have been very vulnerable from sanctions, including Russian banks. The degree of dollarization of the world economy is so high that the Americans can indeed block large segments of foreign trade with the help of their sanctions, and, naturally, this creates a new demand for crypto-currencies. This is an objective way, this applies not only to Russia but also to all countries against which the Americans apply sanctions. ”

Earlier it was reported that in Russia they are working on a bill regulating crypto currency .

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