The economist called the advantage of cross-border settlements in digital currencies

The advantage of trading using digital currencies is that they are beyond the control of regulators in unfriendly countries, which makes it possible to circumvent sanctions. This opinion was expressed by Andrey Stolyarov, Deputy Head of the Basic Department of Financial Market Infrastructure at the HSE Faculty of Economics, in a conversation with Izvestia.

However, digital currencies are unlikely to completely replace traditional fiat money in the coming years, he noted. According to the expert, the main threat to the dollar today is not so much the creation of digital yuan, rubles or rupees, but rather the emergence of alternative trading systems and the move away from settlements in the US currency.

"A full—fledged launch of digital currencies in cross-border settlements will reduce problems in this area, but will not completely solve them," the source said.

The key issues today are the development of infrastructure for operations with digital currency and its conversion, said Stolyarov.

Read more in the Izvestia article:

The soft power of blockchain: Can digital currencies destroy the hegemony of the dollar