A Russian « usdt »? While Russia recently announced The legalization of cryptocurrencies for international tradethe country seems to want to go even further in the adoption of these technologies. Indeed, during a recent forum on blockchain in Moscow, the idea of a stablecoin of the Russian ruble was mentioned, with the objective of making it an equivalent of the very popular USDT in Tether.
- Russia recently considered the creation of a stablecoin of the Russian ruble, inspired by the USDT of Tether, during a forum on blockchain in Moscow.
- This Stablecoin project aims to be overpolled, liquid, non-cycy, interesting, intraçable, non-non-lockable and in accordance with Russian legislation.
Russia wants a stablecoin of the ruble as popular as the USDT of Tether
When Blockchain Forum from Moscow, Sergei Mendeleevfounder of the Exved exchange platform, presented a vision of a stablecoin of the Russian ruble which could compete with theUSDT de Tether. According to him, this stablecoin should fill out Seven key criteria To become a viable alternative:
- Surplusteralizedthat is to say having a reserve of assets greater than its total value, in order to guarantee its stability and safety;
- Liquidthat is to say easily exchangeable on centralized and decentralized platforms;
- Non -kycthat is, not to require its users to provide their personal data to be able to use it;
- Interestingthat is to say to offer interests to tokens holders thanks to intelligent contracts;
- Intraforceablethat is to say allow anonymous and inexpensive transactions;
- Non-blissablethat is to say that they cannot be frozen or censored by a third party;
- Regulatedthat is to say in accordance with Russian legislation.
A stable of the ruble which remains in accordance with Russian regulations
Sergei Mendeleev underlined the idea that this stablecoin should obviously be in accordance with the Russian regulationsalthough it expresses reservations about the current management of legislation, which it deems too centralized.
He also concedes that the implementation of some of these featureslike anonymous transactions, is complex, even if it believes that such a stablecoin is technically achievable. Finally, he points out that the user confidence will be crucial for its adoption.
This initiative is part of a context where the Russia actively explore cryptocurrencies and stablecoins to bypass the International economic sanctions. The country has already legalized the use of cryptocurrencies for international trade and plans to launch a ruble digital by its central bank.
The Stablecoin project of the Russian ruble offered by Sergei Mendeleev could offer an interesting alternative to existing solutions on the market, but its realization will strongly depend on the evolution of Russian regulations and user confidence. Case to follow.