DRAWRecently, the Russian President criticized Western sanctions and called for the establishment of a payment system based on blockchain.

President Putin calls for the establishment of an international payment system based on

Speaking at conference "Journey to the world of artificial intelligence" in Moscow on November 24, Russian President Vladimir Putin criticized the monopoly of global financial payment systems and advocated the creation of an international payment network. independent economy based on .

During the event, President Putin stated:

“On the basis of digital and blockchain technology, it is possible to create a new international payment system that is more convenient, safe for users, and most importantly, does not depend on banks or the intervention of other banks. third country. I believe a system like this will definitely be created and developed, because no one likes the orders of monopolies, which are damaging to all parties, including themselves.”

Putin also noted that global payments and countries are at risk due to strained relations between Russia and the West following the invasion of Ukraine. The 70-year-old president called sanctions imposed by countries "illegal restrictions".

President Putin emphasized:

“In terms of today's illegal restrictions, one of the attack vectors is payments. The current international payment system is very expensive, and the agency account apparatus and regulation are controlled by a small group of countries and financial corporations. In fact, they really have a monopoly on controlling everything.”

In this regard, he proposes to combine advanced technology and human's millennial experience to solve it.

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President Putin cited the eastern system of hawal, which provided mutual payments long before banks appeared and is still in operation - this system transacts through brokers.

A day earlier, local media reported that Russian lawmakers were in the process of discussing amendments to the law current, sets out the regulatory framework for a national exchange.

According to other developments, a bill was introduced into the State Duma of Russia on November 17 to legalize the mining and sale of dug. Previously, President Putin spoke in favor of the peach industry in Russia. 

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