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Ironically, the countries that Russia would have been able to trade with in BTC (China, India etc) are the countries that are most resistant to crypto.
by umeshunni 5y ago
Ironically, the countries that Russia would have been able to trade with in BTC (China, India etc) are the countries that are most resistant to crypto.
- smoe 5y agoAlso countries with whom they can just use CIPS, the Chinese alternative to SWIFT. Seems much more straightforward than crypto for most.
- from 5y agoThis is because major countries with their own currencies do not like having dollarized economies. Trade with the west could be done in BTC because there is no blanket prohibition on business with Russia just mostly their financial institutions. Promoting CIPS is probably the best option.