Blocking Russian Payments: to Be or Not to Be for Financial Multipolarity?

... cryptocurrencies to make secure payments. Cryptocurrencies undoubtedly offer an interesting avenue for developing a decentralized system of international settlements, but only as a transaction-recording technology or a digital financial asset. At the same time, cryptocurrencies lack such basic functions of money as a measure and store of value. In the former case—because their value is measured in fiat currencies (mainly the U.S. dollar), and in the latter case—because of their extreme volatility. In addition to the risk of rapid depreciation, cryptocurrencies are not immune to default and liquidity risks, as crypto services and exchanges may also ...