In fact, the world may be setting off a sovereign cryptocurrency race, regional chains have been put on the agenda by many countries, and the purpose of some countries is clear, trying to achieve economic reversal through regional chains, Venezuela issuing petrodollars may be just the beginning, after Israel, Iran and Turkey have declared coins to issue various versions of sovereign cryptocurrencies, Russia and India, two economies may officially make a move, suddenly announced to follow this economic model of Venezuela, is it an opportunity or a trap? Are they becoming the next Venezuela?
Recently, Russian media outlet Russia Insight released a video of a discussion between Russian President Vladimir Putin and Herman Gref, the president of the country's largest bank, Sberbank (Russian Federal Savings Bank). We need blockchain technology," Putin said. The end of the Stone Age was not because there was a shortage of stones, but because of the emergence of new technologies. Once you fall behind in this race, you can be quickly, very quickly run down by the leader in the field. "In fact, Gref has long been an optimistic proponent of cryptocurrencies and blockchain. In November 2017, Gref stated that cryptocurrencies are already a fact of life for us and noted that they will become an integral part of the global financial system.