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News March 6, 2022

Report: Cryptocurrencies Difficult to Provide Russia with Effective Trade Payment Channels

Report: Cryptocurrencies Difficult to Provide Russia with Effective Trade Payment Channels

It was reported on March 4th that yesterday, Ouke Cloud Chain Master released a research report “What role can Crypto play in the game of great powers? “, starting from the SWIFT financial sanctions incident caused by the recent Russian-Ukrainian conflict, deeply analyzes the status and role of SWIFT in international finance, and discusses whether the blockchain network can replace SWIFT and whether Crypto has the feasibility to help Russia avoid sanctions.

The report pointed out that despite repeated declarations of independence, SWIFT is still a permissioned network. Under the international monetary system dominated by the US dollar, it is largely affected by the game of great powers; while the magnitude of Crypto’s overall transaction amount and transaction processing The speed of TPS (TPS) is still unable to meet the needs of liquidity, and it is difficult to provide an effective trade payment channel for a large country like Russia.

The compliance of Crypto in the United States is a step in the strategic layout to control the hegemony of the US dollar. Its real purpose is that once the situation requires, the supervision set by each joint can be immediately transformed into a tool for control and a weapon for sanctions.

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