Nazarbayev proposed introducing the international crypto currency
The President of Kazakhstan stressed that the proposed currency should have a simple, transparent mechanism of emission
President of Kazakhstan Nursultan Nazarbayev
© Alexei Nikolsky / Press Service of the Russian President / TASS
ASTANA, 16 June. / Corr. TASS Yulia Nitchenko. The President of Kazakhstan Nursultan Nazarbayev suggested considering the introduction of an international settlement and payment unit.
"It's time to seriously consider the introduction of an international settlement and payment unit, which will help to rid the world of currency wars, speculation, avoid distortions in trade relations, and reduce volatility in the markets," Nazarbayev said at the plenary session of the Astana Economic Forum.
He noted that the proposed currency should have a simple, transparent mechanism of emission. "Taking into account digitalization, the development of technologies such as block, such a unit of account can be created in the form of a crypto currency." It is important that it is based not on abstract trust, but on providing specific assets, "the leader of Kazakhstan explained.
According to him, such currency should be democratic and be accepted by consumers all over the world. "The introduction of a global currency is possible by creating a pool of central banks, for example, with a specially created UN committee." Equal, fair representation of all countries of its mission should be, "Nazarbayev specified.
source http://tass.ru/ekonomika/4343062
At the moment, the way he proposes the global acceptance and use of cryptocurrency seems not too dissimilar to the current banking system once Fiat currency has been digitally replaced.
He talks of a UN committee overseeing a pool of banks. Not so sure about this. This would have to be totally different from the corrupt banking system we currently have.
That would be a ballzy move. I bet the price would go up on their currency just from people supporting them. I think they might even get some cryptostartups setting up shop or willing to work directly with them.
Singapore and other countries are looking into tokenizing their currency but if they are still making the blockchain privately controlled by them doesn't that limit how "decentralized" it is? I mean, seems like they are just creating something like Ripple, a centralized crypto currency that can be manipulated to control the actual value. Or am I wrong?
It seems everywhere now people are startimg to catch the vision of cryptocurrencies and what they can do, not only as a coin but their application as well.
finally he announced about it , coz ppl in Kazakhstan don't really know about crypto currencies . I hope one they join here tho :)
even China superpower is working on its own crypto
crypto is the future
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