the era of paper money is coming to an end

Vnesheconombank is successfully developing a project financing program through which domestic investment inflows in Russia will be increased each year and by 2020 their amount will be 500 billion rubles.

Relying on such support of VEB, many regions, departments and state structures began to switch to blocking technologies.

"The era of paper money is coming to an end," Sergei Gorkov, head of Vnesheconombank, said in an interview with the Izvestia newspaper that "crypto-currencies will come to replace them literally a generation later."

Unlike many popular opinions and statements, the head of VEB does not consider all the crypto currency as a soap bubble.

"A soap bubble can be considered a specific crypto currency, for example bitcoin, which is not provided with anything and is highly overrated. From such a currency one can not expect constant growth. Bitcoin had a bubble effect, and at the turn of 2017-2018 he was blown away. "

In the near future, the popularity of bitcoin will fade, the head of VEB assumes. It will be replaced by new electronic money:

"Bit of something, maybe even a bitruble." The name will change, but it will still be electronic money, "he said.

However, one should not hope that the process of replacing paper money will happen quickly and painlessly. To do this, you need to create the necessary conditions. For example, "the level of penetration of smartphones and other electronic devices should be close to 100%", - says Sergei Gorkov. And this is only one of the necessary conditions.

It should be recalled the positive feedback from the management of VEB, the draft law on crypto-currencies introduced by the Ministry of Finance and the Central Bank, thanks to which they will finally gain legitimacy.

"The Central Bank and the Ministry of Finance took a very wise position. They did not take swift decisions and took a pause for reflection. It is extremely important to define clear concepts that exclude the slightest discrepancy, "believes Sergei Gorkov.

Asked by Izvestia about specific actions, Gorky replied:

"We support eight block projects. The first and largest is Rossreestr. There are projects with Rospatent and AHML. An interesting project with the Ministry of Health of the Novgorod region on prescription drugs. The Chechen Republic is ready to take up the transfer of real estate to the blockade. With a similar initiative, the Kaliningrad region also addressed. A pilot project is being prepared with the Ministry of Finance for state purchases, a number of projects are under development