Russia is looking for financial engineering solutions to circumvent the imposed sanctions that inevitably tie Moscow's economy. Here, then, is the "cryptorube": an electronic currency to be used to carry out international trade, circumventing the sanctions. This was reported by the Financial Times citing a speech by Sergei Glazev, economic adviser to President Vladimir Putin.
The cryptor, a currency that uses the blockchain, the economist said, would be "a tool that is very well suited to sensitive activities carried out on behalf of the state. We could settle accounts with our counterparts around the world without any regard for sanctions. " Glazev has not disclosed details on the plan that, as also underlined by the Financial Times, does not seem to be immediately applicable. Putin's adviser only said that virtual currency could be "the same ruble", traded on blockchain and whose circulation "would be somewhat restricted". That is regulated, in order to allow the Kremlin to trace the exchanges. Putin's interest in the idea of a cryptor (real or for electoral purposes given the popularity of electronic currencies in Russia) is not new. And it is also deepened from time to time with Vitalik Buterin: Etherum's (Russian) creator has met the president several times.
What is the Blockchain?
For some it is the Blockchain is the new generation of the Internet, or better still it is the New Internet. For greater precision, it is believed that it can represent a sort of Internet of Transactions and for those who look beyond the concept of transaction the Blockchain can represent the Internet of Value. For others it is the digital representation of four very clear and strong concepts: decentralization, transparency, security and immutability. For still others, as mentioned, it is the clear digital interpretation of a new concept of Trust. And for these reasons some believe that the Blockchain can also take on an almost value "politic", as a platform that allows the development and realization of a new form of democracy, truly decentralized and really able to guarantee everyone the possibility of verifying, of "controlling", of having total transparency, of giving life to immutable archives and shared and therefore unalterable, unchangeable and therefore immune from corruption.
For a certain period the Blockchain has been confused, or rather identified with Bitcoin, or rather with a declination of the Blockchain and in particular with the one that underlies the digital currency or Bitcoin cryptocurrency. Perhaps for the latter reason the Blockchain often appears associated with a concept of money, digital currency and payment. In reality, the Blockchain can also be used as a payment platform or as a tool to create digital currency starting from the best known example represented by Bitcoin, but it is not necessarily limited to this field of application.
As is evident, the Blockchain lends itself to being interpreted. More than a technology, it is a paradigm, a way of interpreting the great theme of decentralization and participation. For this reason there are various variations, different interpretations and different definitions of the Blockchain. (source 365.com)