PUTIN WANTS RUSSIA TO EMBRACE THE DIGITAL RUBLE
“The digital ruble has proven its viability and it is time to move on to a wider use of the currency, Russian President Vladimir Putin said at a meeting about the economy.”
“Digital currency works much the same way as national currencies used by central banks of various countries, making transactions more transparent and easier to track.
Russia is not the first country to think about going digital; the leader in this sphere is China, which was among the first nations to widely introduce digital currency with the digital yuan, Natalya Milchakova, lead analyst at Freedom Finance Global, explained to Izvestia. Only a few countries have fully switched over to using digital currencies, mostly countries in the Caribbean, such as the Bahamas and Jamaica.”
“”Russia wants to be at the cutting edge of modern technologies, including financial services. The DFA (tokens) market is already taking off in the country, including those issued by major industrial enterprises in order to inject money into promising projects,” Milchakova explained.
Putin wants to take this a step further: to move on to a wider large-scale implementation of the digital ruble in the economy, business and finance. This may help the government in terms of controlling the budget, cutting the cost of budget payments and easing trans-border transactions.”
“The digital ruble has a chance to become a full-fledged payment instrument for individuals and companies but to make this a reality, the government has a lot of work to do, and it must learn from past mistakes made by other countries when implementing such currencies.
There, people saw certain risks for financial confidentiality or restrictions of financial freedom,” the legislator noted in a conversation with Izvestia.”
@ Newshounds News™
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Is Ethereum a No-Brainer Buy After the Bitcoin Halving?
Earlier this year, Ark Invest’s Cathie Wood stunned cryptocurrency investors by predicting that Bitcoin ‘s (CRYPTO: BTC) price would reach $1.5 million by 2027. Back in April, Wood believed that the recent approvals of the first exchange-traded funds (ETFs) based on Bitcoin’s spot price, more institutional purchases, and the then-impending halving of Bitcoin’s mining rewards (making it twice as hard to mine the cryptocurrency) would drive a stampede of bulls to the world’s largest cryptocurrency.
Wood also made some bullish predictions for Ethereum (CRYPTO: ETH), estimating its market cap could exceed $20 trillion by 2032. That would mean a market price of more than $166,000 per Ethereum coin.
Recent updates and analyses have added new perspectives on Ethereum’s potential. The Bitcoin halving is in the books, the initial spot Bitcoin ETFs have been on the market since January, and the first Ethereum ETFs followed suit this week. So what’s next, and is Ethereum still a good investment?
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What are the strongest currencies in the world? (2024)
Ever wondered which is the strongest currency in the world? There are lots of factors which can push a currency up the global rankings, from low inflation to a strong economy, to interest rates or oil and gas exports.
What is currency strength?
According to Nasdaq a strong currency is:
“A currency whose value compared to other currencies is improving, as indicated by a decrease in the direct >exchange rates for the currency”.
Put simply, the definition of a ‘strong currency’ is when a currency is worth more than another country’s currency. ‘Currency strength’ refers to how strong or weak a currency is at any given time.
What are the top 10 strongest currencies?
1. Kuwaiti dinar
The Kuwaiti dinar (KWD) is the world’s strongest currency, and this is for a number of reasons. For starters, Kuwait has one of the largest oil reserves in the world.
It’s also a wealthy country, whose government has prioritised the growth of the country’s private sector, the diversification of the economy and responsible budgetary policies. All of these factors have contributed to the stability and resilience of the Kuwaiti dinar.
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