Blockchain Is Not a Panacea for Finance, Says Russian Bank Official

Cointelegraph | Apr 3, 2020 at 7:48 AM
  • The Central Bank of Russia’s (CBR) first deputy governor has said that blockchain technology is not the “universal solution,” many promised it would be five years ago.
  • The deputy governor noted that the central bank is in talks with other regulators on the issue of global stablecoins, stating that, at this point, stablecoins raise more questions than answers.
  • Anatoly Aksakov, chairman of the Russian State Duma Committee on Financial Markets and chairman of the National Banking Council at the CBR, admitted that previous delays in the bill’s adoption were caused by disagreement on the new asset type between local authorities.