Altcoins > State-backed cryptocurrency

Russian Central Bank to Consider Gold-Backed Cryptocurrency

(1/2) > >>

Russia’s central bank will consider the use of a gold-backed cryptocurrency to facilitate international settlements, according to a Tass report.
Elvira Nabiullina, governor of the Bank of Russia, said Thursday that her institution is to review a proposal for the development of the cryptocurrency.

Nabiullina said at the nation’s lower house, or Duma:
“As for mutual settlements, we will consider, of course, [the] proposal on … a gold-backed cryptocurrency. But, in my opinion, it is more important to develop settlements in national currencies,” she said at the State Duma.

She added that fiat currency settlement systems within the Eurasian Economic Union are improving and have “good dynamics.”

Everyone talks about cryptocurrencies developing and introduction them into their system. But in practice there are no such results.

These projects take time to be implemented.
When such authorities like the governor of a Central Bank talk about it in public, they do so not on a personal level. They are talking in name of the institution that they represent.
Also, when they talk about it, this follows discussions already taken place with their advisors, committees, economic and banking institutions, political entities  etc.
A new legislation has to be issued, etc.
These projects have nothing to do with the usual cryptos. These projects change the economy of entire countries.

Decoding Russia’s Mysterious Gold-Backed Crypto

Minister Confident for the Gold-Backed Crypto!

Tatyana Valovaya, the Minister of Integration and Macroeconomics for the Eurasian Economic Union is utterly confident that the crypto will reach the expected benefit. Valovaya suggested that the crypto was coined so as to settle payments between the states like Iran, which are open for trade. With Iran having a similar crypto, Valovaya mentioned that the report will show the positive aspect of cryptos. Furthermore, this will also be utilized to sneak out of the US sanctions that the Russian government, too has to act upon.

"We have prepared an analytical report and will present it soon, that will analyze what cryptocurrencies are, what is happening in the world, what approaches countries have, what regulation is provided. … If the trend of cryptocurrencies and blockchain development is picking up pace, we have to realize that."

Same old whining... "accept the future" and make your own crypto while banning competition


[0] Message Index

[#] Next page

It appears that you have not registered with Bitcoin Forum. To register, please click here...
Go to full version