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Home Daily Digests Russia Advances Digital Ruble; Scotland’s Controversial Hate Crime Law

Russia Advances Digital Ruble; Scotland’s Controversial Hate Crime Law

Russia is exploring the implementation of a Central Bank Digital Currency (CBDC) for the ruble, aiming to reduce reliance on the US dollar. Meanwhile, Scotland’s new hate crime law, which penalizes verbal abuse towards transgender individuals, has sparked controversy.

user profile picture Ivor Apr 04, 2024
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In a significant move towards financial autonomy, Russia, a key member of the BRICS alliance, is exploring the implementation of a Central Bank Digital Currency (CBDC) for the ruble. This initiative aims to localize the digital ruble, encouraging widespread use among citizens and businesses, and reducing reliance on the US dollar. The Central Bank of Russia is considering pilot runs to test budget payments in the country, signaling a potential shift in global financial dynamics. With around 90% of central banks worldwide experimenting with CBDCs, the US remains an outlier, raising concerns about its position in the evolving financial ecosystem. This development underscores a broader trend towards de-dollarization, as countries seek greater financial independence and stability.

In the realm of blockchain and securities, Securitize’s acquisition of Pacific Stock Transfer marks a pivotal step towards modernizing equity markets. This move positions Securitize as a top US stock transfer agent, overseeing 1.2 million investor accounts. The integration of blockchain technology aims to streamline the traditionally cumbersome processes of share ownership verification, dividend payments, and tax documentation. By digitizing securities, the industry anticipates more efficient operations and enhanced liquidity, challenging the status quo of transfer agents benefiting from market inefficiencies. This transition reflects a broader shift towards leveraging blockchain for real-world asset tokenization, promising greater productivity and accessibility in financial markets.

The global geopolitical landscape is undergoing a profound transformation, with discussions highlighting the shift from a unipolar to a multipolar world. The rise of the East, particularly China, and the increasing voice of the global South, signify a move towards greater autonomy and a challenge to traditional Western dominance. This shift is underscored by the strategic accumulation of resources like energy and gold in the East, contrasting with the West’s financial challenges, including debt and speculative bubbles. The importance of tangible assets and fiscal discipline in this changing order points to a reevaluation of gold as a key asset for wealth preservation.

Amidst these global shifts, the conflict in Ukraine and the role of NATO have come under scrutiny. The distinction between a war and a special military operation, as described by Russia’s actions in Ukraine, raises questions about military capabilities and the future of NATO. The need for a reassessment of policies and a move towards cooperation and trust is emphasized, suggesting a potential for a more balanced and respectful global order.

In Scotland, the implementation of a new hate crime law has sparked controversy and a flood of complaints. The legislation, which penalizes verbal abuse towards transgender individuals with up to seven years in prison, has been criticized for potentially stifling free speech and diverting police resources from addressing other crimes. The case of JK Rowling, who was reported under this law but will not be investigated, highlights the broader implications for freedom of expression and the challenges of balancing protection against hate with the right to free speech.

Sources

Russia Discusses Implementing Central Bank Digital Currency (CBDC) for the Ruble

“We are conducting an analysis with them of the possibility of both payments to the budget from citizens and businesses. And budget payments to citizens and businesses. Because we consider this a possible promising direction for using the digital ruble,” she said.

Source | Submitted by 0007

Securitize Acquires Pacific Stock Transfer, Expanding Blockchain-Based Securities Services

The Securitize deal is another step in equities markets moving away from a paper-based past to a blockchain-based future.

Source | Submitted by 0007

Tokenization of Real-World Assets: A Growing Trend in the Crypto Industry

Security token platform Securitize is launching two crypto yield funds Wednesday that will allow institutional investors to gain access to bitcoin and USDC.

Source | Submitted by 0007

The Rise of Multipolarity: Shifting Global Dynamics and the Future of the West

The future belongs to the global South because they have all the advantages of 50, 100 years of growth.

Source | Submitted by rhollenb

Putin’s Interview with Tucker Carlson: A Moment in History or a Waste of Time?

I think it was illuminating in some sense. It’s where people will have got some idea that the Western world is quite how they think it is. You know, there is a different perspective.

Source | Submitted by rhollenb

Absurd New Hate Crime Law in Scotland Flooded with Complaints, Proving Weaponization by Activists

Under the new legislation, anyone deemed to have been verbally ‘abusive’, in person or online, to a transgender person, including “insulting” them could be hit with a prison sentence of up to seven years.

Source | Submitted by AaronMcKeon

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