RE: Russia's CryptoRuble - Nothing to be excited about.

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Russia's CryptoRuble - Nothing to be excited about.

in cryptocurrency •  7 years ago 

I think the point of the cryptoruble is not the currency itself, but rather as a means to an end. There are billions of dollars invested globally in cryptocurrencies and the Russian government has struggled to attract foreign investment due to sanctions and ongoing tensions with the west. By creating a cryptocurrency the state can regulate the FDI coming in from crypto investors while allowing them to freely exchange between between the ruble and cryptoruble to seek returns on investment. It offers much more accountability than investors saw in previous decades and Russia is poised to do well as an emerging market.

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