SIRIUS /Federal Territory/, October 4. /TASS/. The practice of international communication is very important in an environment where ensuring financial security is becoming an increasingly important task. Russian President Vladimir Putin said this at the plenary session as part of the 3rd International Olympiad on Financial Security.
"This practice of international communication, educational cooperation, establishing friendly partnership contacts in such a significant, sensitive area is extremely important. Especially now, when every year ensuring financial security becomes more and more important, more complex, comprehensive and, without any exaggeration, large-scale task. Its solution requires joint efforts and a high level of training of specialists, in a variety of fields," the head of state said.
He noted that advanced solutions and technologies are now rapidly developing in the financial sector. The President cited as an example digital currency, digital financial assets, new payment services and financial settlement models, including using blockchain technology.
He recalled that in this area, especially when it comes to international cooperation, "mutual trust and respect for the interests of partners are extremely important."
"And if there is such a foundation, then modern, essentially revolutionary technological solutions and approaches make it possible to create a truly unique system of financial settlements. And if we look more broadly, then [it becomes possible to create] an innovative infrastructure of global economic, trade, industrial and scientific cooperation," the head of state emphasized.
Among precedents for such a joint work he cited joint projects of a number of central banks in Asia and the Middle East, which can issue and exchange their digital currencies.
"That is, no third party simply has the ability to abuse or interfere with payments," the President explained. For example, a third party cannot "block a transaction, seize accounts, or appropriate other people’s money or assets." "And this, unfortunately, happens in the modern world," the Russian leader said.
Putin expressed confidence that the finalists of the Olympiad, "as experts in financial security issues," are able to solve not only the most complex competitive problems, but can also offer their own creative ideas that will interest specialists in this field. "They will help build a new independent national and global financial architecture," the head of state concluded.