Image Credit: RAND Corporation
Dec 11, 2023
Putin highlights the shift to a democratic economic model, accusing Western elites of hindering progress.
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Western sanctions lead Russia to explore alternatives, discrediting traditional financial infrastructure.
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Disconnecting from Visa and Mastercard results in a seamless transition to a national payment system.
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Putin asserts the increasing replacement of the dollar in international transactions, deeming the Western financial system obsolete.
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Putin suggests advanced solutions, including blockchain and central bank digital currencies, for international transactions.
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Speculation arises as Putin hints at using bitcoin for payments, acknowledging its potential as a reserve currency.
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Russia actively pursues a retail CBDC, emphasizing the nation's commitment to modernizing financial systems.
Image Credit: Central Banking