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Russian Minister of Finance is in support of national cryptocurrency. He’s only not in support of the state investing or participating in it.
The creation of a centralized coin, like the cryptoruble, seems impossible, as cryptocurrencies are based on decentralized ledgers, Finance Minister Anton Siluanov told President Putin, according to Russian media.
Earlier on, President Vladimir Putin has requested to study possibilities to create а so-called “ cryptoruble ”, Minister Siluanov has tried to educate Russia’s head of state on the nature of cryptocurrencies. In a letter dated January 29, 2018, he says Minfin would not object to a private project to create a Russian cryptocurrency under the supervision of financial authorities, but only if the government did not invest in it.
According to Siluanov creating a centralized national cryptocurrency seems impossible, given the “technical features of such emission“. “Cryptocurrencies are based on decentralized ledger technologies”, the minister points out. And his department is not also in support of the States funding national CryptoCurrency.
Do you support the Minister of finance idea? Or should Russian authorities still go on to finance the national CryptoCurrency? Drop your comments below and let us know what you think.