Russia may use gold-backed cryptocurrencies in the future
Russia’s central bank, which has been an instrumental participant in the upcoming is considering to use gold-backed for future transactions as mutual payments.
Although the bank voiced its opinion by supporting the , they are still very much interested in using the new digital assets. And it looks like foreign remuneration could be their best bet of implementing it in the economy.
The head of the Central Bank of Russia, Elvira Nabiliullina, has mentioned that at this point it’s much more important for the country to conduct foreign transactions in the national currency, so as to strengthen it for the trying times ahead.
The bank doesn’t want cryptos?
The central bank confirmed once again that no matter how much more value cryptos can possibly bring to the economy they are not ready and are against the notion of replacing fiat RUB for cryptos.
Although, the idea of using gold-backed cryptos is vaguely similar to the economic system Russia has at this point, therefore the head of the Bank is somehow contradicting herself with that notion.
Nevertheless, the gold-backed crypto is a long ways off, as the is being drafted as we speak. Most likely, by the end of June, we’ll see a crypto regulated market in the Russian Federation, and only after that can the proposed crypto be considered as a possible reality.
However, Nabiliullina did mention that Russia is benefiting from their national currency payment strategies in the Eurasian region, and are not considering to alter it anytime soon.
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About Fire Lotto
Fire Lotto, is the world’s first decentralized lottery platform that is developed on Ethereum (ETH) smart contracts and characterized by complete transparency. The distributed, decentralized blockchain provides many opportunities for fintech innovation as well as the modernization of gaming industry.
The platform ensures that 70% of the ticket sales goes to the jackpot and the winners are paid right after the draw to their ETH wallets. Fire Lotto was recently launched on January 1, 2018, starting with . The lotteries are 4/20, 5/36 and 6/45 and Roger’s Wheel, with ticket cost starting from $2.
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The players enter the lottery site with a familiar, user-friendly interface, where they can purchase an almost infinite number of lottery tickets and select numbers for each. Payments for tickets are enabled in one click via user’s cryptocurrency wallet.
The anonymity factor of playing over Fire Lotto platform implies that players from any part of the world can play without any worries. One of the added incentives for Fire Lotto tickets holders is taxation. Unlike traditional lotteries, there is no tax or hidden charges that take the shine off winning the jackpot.
Fire Lotto is also the first internet community owned lottery since it cannot be banned. Users need just an internet access and their cryptocurrency wallet to play it. The transparent of Fire Lotto lets investors earn up to 15% cashback for each ticket sold.
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