Putin made the announcement during a speech at a Sberbank-sponsored seminar.
Vladimir Putin seemed to grasp the gravity of the country’s economic situation.
Vladimir Putin, President of Russia, agrees that a new digital payment system is needed for global settlements. According to proponents of the new payment system, no banks nor third parties are necessary to process transactions. This information was leaked to the public by one of the regional media outlets. Distributed ledgers and digital currency technologies may, as previously noted, be used to curate the new digital payment system.
Hurt by Western Sanctions
Putin made the announcement during a speech at a Sberbank-sponsored seminar on artificial intelligence. According to Russia’s president, nations’ ability to make and receive international payments and exchange funds is under threat. The increasing hostility between the West and Russia is a major factor in this. Sanctions have had a devastating effect on the country’s
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