Nazarbayev proposed to introduce a «global currency»

© RIA Novosti / Mikhail Metzel/POOLПерейти in Photobacterium of Kazakhstan Nursultan Nazarbayev. Archival photoNazarbayev proposed to introduce a «global currency»© RIA Novosti / Mikhail Metzel/POOLПерейти the image Bank

The President of Kazakhstan Nursultan Nazarbayev in his speech at the Astana economic forum on Friday proposed to consider the introduction of a «global currency» that will allow to rid the world of currency wars.

«It’s time to seriously consider the introduction of international payment units. It will allow to rid the world of currency wars, speculation, to avoid distortions in trade relations, reduce the volatility in the markets», — said Nazarbayev.

He noted that «the currency should have a simple, transparent mechanism of emissions, subject to its consumers.»

«Given the digitalization, development of technologies such as blockchain, this unit may be in the form of cryptocurrencies. It is important that it was not based on abstract trust, and on the provision of specific assets,» — said Nazarbayev.

In his opinion, «the introduction of a global currency is possible by creating pool of Central banks, for example, when a specially created Committee of the UN.»

The technology of the blockchain (the blockchain) is a system organization of distributed databases. According to this technology, in particular, works database, which stores information about transactions popular in the world of bitcoin. According to some experts, the technology allows to significantly optimize the costs of corporate and public governance.