President Putin called for crypto and blockchain-based payment system without any influence of banks or any third party.
He also lashed out at the existing payment systems calling them a weapon of the west and expensive at the same time.
Over the weekend, Russian President Vladimir Putin raised the proposal of building a new blockchain-based global payments system for international settlements. Putin said that the new system shall involve a digital currency for transactions and must be independent of banks and third-party interferences.
The latest announcement from the Russian President came while speaking at a Sberbank-organized artificial intelligence conference. Mr. Putin said that the existing global payments and financial transactions between countries are in jeopardy.
This has been mainly due to the rising tensions between Russia and the West. Also, since the Ukraine invasion, the West has cut off Russia from the SWIFT banking systems. The sanctions have also prohibited Russia fr

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