Russia Predicts Crypto Currency Will Play An Important Role In The Future

Russian Foreign Minister Sergei Lavrov (EconomicTimes)

JAKARTA – Cryptocurrencies are starting to be widely adopted in the economic system by many countries, one of which is El Salvador adopting Bitcoin. Russian Foreign Minister, Sergei Lavrov sees cryptocurrencies will be of great value in the future.

Cited from Bitcoin News, Lavrov assesses that these digital assets will be very good. Russia is reportedly doing de-dollarization or actions to replace the United States dollar as a standard currency value (currency valuation). The move offers Russia's view on the future of cryptocurrencies.

Lavrov believes that cryptocurrencies can be used to solve debt problems between countries.

“I think the time will surely come when cryptocurrencies will play a very significant role, occupying a very significant segment in international settlements”, said Lavrov.

Russia's de-dollarization shows its strong political statement, they indirectly say that Russia can survive without the dollar.

Russia is trying to find a way to solve the problem of international payments. Lavrov said his party was still considering the use of national currencies in bilateral trade.

“We are trying to rely more and more on other currencies. About national currencies in terms of bilateral trade with our partners – with China, other SCO members, a number of other countries…”, said the Russian Foreign Minister.

At the beginning of this June, Anton Siluanov as the Russian Finance Minister reported that the National Wealth Fund plans to dispose of dollars for other currencies. The funds amounting to more than USD 600 billion will be used to support yuan and euro-based investments.

Not only that, but Russia also values cryptocurrencies as an important part of its strategy going forward, as reported by Bitcoin News.