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PRIZM founder Alexei Muratov commented on the agreement on cryptocurrencies of the Ministry of Finance and the Central Bank

Since the creation of the International public Movement "Change the World Together" and the advanced cryptocurrency PRIZM, the activists of both projects do not take their hand off the pulse of the blockchain industry, by keeping a close eye on the events, expressing expert opinions, and taking an active part in all processes and proposing advanced approaches.

One of the actual topics for the blockchain community is, of course, the legal status and legalization of the crypto currencies - the interaction of state structures (regulators) with a new, irresistibly growing market. Counteraction of opinions about the industry of crypto-currencies continues in Russia for a long period of time. The main points of discussion are: the Central Bank, the Ministry of Finance, the State Duma and a number of independent experts. Mr. Alexei Muratov on the process of creating a law on crypto-currencies – the chairman of board of International public movement CWT and the founder of the advanced crypto currency PRIZM. Today, Alexei Muratov spoke about the current stage in the dialogue between the state departments of the Russian Federation. According to the expert, the "removal of disagreements" between the Ministry of Finance and the Central Bank on the market of crypto-currencies will give a very "raw" law - nevertheless, this is the right step towards regulating "electronic money" in the country.

"Crypto-currencies must be clearly controlled - the rules of the game are needed for any financial system. But that bill, which is now being discussed by the government - is very far from perfect. The document is "raw" and does not meet modern realities: crypto-currencies have long been a value with which legal incidents occur.

Today, the crypto-currency market is a reminiscent of the Wild West period in the US - wild rules in the unregulated market. The settlement will reduce the level of fraud in using "electronic money", and people will be freer to use it without hiding. In fact, if the owner of an electronic wallet is known, you can check the legality of his operations and funds. Law-abiding people simply have nothing to fear. That is, the issue of questionable operations and financing of terrorism is no longer in use - for this, like the entire history of mankind, cash is still best suited, “said Mr. Alexei Muratov.

* Draft law on crypto-currencies

The expert also spoke about the shortcomings of today's global financial system, and highlighted the advantages and prospects of the crypto-currency industry.

"Today, the world economy is like a huge financial pyramid, on top of which is the US Federal Reserve. The United States are throwing new money into the world economy, which devalue those that are already available to people. This system is imperfect - modern technologies require a significant leap, and the world will be rebuilt.

The decentralized system based on the Blockchain is more centralized, transparent and open. However, Bitcoin and other top-end crypto-currencies today are not working honestly - as they develop, they become centrist. Power accumulates in the hands of large mining pools, the number of which is declining. Today they are only a few dozen. As a result, there will be one largest pool in China, which produces equipment for mining.

This is fundamentally the wrong way, because a certain group will have the opportunity to change the rules at their discretion. Current task in the Russian Federation is to balance the regulation so as to facilitate the development and circulation of the crypto-currency with maximum transparency. Taxing a mining is in advance an attempt to fail, since the development of modern "digital money" does not require huge energy costs and it is very difficult to track. It is impossible to consider every smartphone as a mining farm, “the founder of PRIZM underlines.



IT-technologies and rules for information exchange: Mr. Alexei Muratov took part in the thematic program on the "Culture" TV channel

In addition to regular legislative assistance, PRIZM and CWT activists are also known for their active and open position regarding public discussions. Members of the public movement and representatives of the crypto currency team regularly appear on TV, on the radio, give interviews and express an expert point of view for journalists of other media. This time the founder of the advanced crypto-currency PRIZM Mr. Aleksey Muratov took part in the program "Observer" on the "Culture" TV channel. The program was dedicated to innovative technologies, the topical place among which, of course, is the Blockchain and crypto-currency industries.

During the conversation of the guests of the program, Mr. Alexei Muratov commented on a number of issues, expressing his expert opinion.

On the financial and economic structure of the world:

"The imperfection of the world financial and economic system made me think about the alternative. Today, it is not a secret for anyone that the market economy leads to ecological catastrophe and the degradation of society. The economy should be aimed at the development of man and society, but the market itself is not aimed at goal-setting. The market is focused on maximizing profit and in the pursuit of this profit, the person develops his vices - there is an inefficient consumption of resources on the Earth planet. Today, after seeing all the imperfections, we offer an alternative and economic model, and a financial model - for example, a model based on Blockchain technology. Decentralized, when it is possible to make transactions, to transfer the values ​​of P2P - from person to person, bypassing intermediaries in the form of banks, states and financial corporations. We must not forget that 70% of the profits in the world market are created in the virtual sector, which has nothing to do with the creation of any particular product or service. If you take the stock market, we take shares of companies. The amount confirmed by the assets is quite small. All the rest is wrapped up by stock speculators. Today, the existing financial system is a soap bubble, a financial pyramid. Money is made on the top of it by financial elites - above all, by the US Federal Reserve System, which prints new dollars in unlimited quantities and throws them into the economy. Embedding is carried out from the top to the down of this financial pyramid. And a simple person downstairs should either earn this money (work from morning till late at night), by creating a certain product or service, or begging it as a debt by taking loans. Today this financial system has discredited itself and shows its imperfection. Blockchain technology allows you to turn this financial pyramid from top to bottom. Today, the crypto currency, which we created - PRIZM, we exactly turn this pyramid and change the model of financial relations. We created the model when the money is emitted at the bottom. When money starts to be created downstairs and injected into the economy, when a simple person becomes the emission center of this money - the economy begins to circle around this person, compete for that money, turns around to a simple person who determines where to spend this money. We believe that this model is fairer. And as for security: the system is built on a large number of nodes - the Blockchain technology allows you to raise the nodes to all participants, and keep this "book" and monitor. If someone tries to cheat and enter a false transaction - the rest of the community will reject this transaction as a fraud. All this happens automatically. This ensures the protection system of the blockchain. And to crack wallets - it takes decades (if only you do not have a quantum computer) to break the SHA-256 encryption system, which is used to create the keys to enter the user's wallets. "

About imperfection of cryptocurrencies:

"Imagine a “book "in which all transactions are stored. And which is kept by every person who downloads the whole block for himself ("a cold wallet"). Blocks that are created are clean sheets of paper in this "book". Miners sort out a bunch of hash garbage, by picking up a "beautiful number". Once it is selected - a clean sheet of paper is created - a block - into which transactions will be recorded further. And the system for creating a "clean sheet of paper" rewards the person who created it. In the form of new coins - bitcoins."

On the determination of the scale of the planet and the prospects of Blockchain:

"Let’s speak about one topic, it's called "goal-setting". The goal should be the development of man and the society. It is in this direction that it is necessary to develop technologies, the world economy should be oriented to this, and the world financial system should contribute to this. A conditional example is a nuclear power: there may be an atomic bomb that can be thrown onto the heads, or maybe an atomic station that will illuminate dozens of cities. So is with Blockchain technologies and crypto-currencies. Blockchain technology – is a revolutionary technology for its future. And the rules which we will prewrite, by using this technology, -will determine what we will get at the exit, an atomic bomb or an atomic station. In the source code of any crypto currency, rules are prewritten, you can say the ideology of this crypto currency. Mining in Bitcoin is an empty job, in fact it is a search for the hash garbage, when huge amount of electricity is burned – and absolutely wasted. A huge amount of electricity power is wasted - for nothing. All this has nothing to do with the maintenance of the system itself, since the system can work without these capacities, and without this power consumption. We demonstrate it in the advanced crypto currency PRIZM. This product is based on the ideology which is a foundation, - and which concept of work is programmed in the source code. Bitcoin has a concept that is far from perfect. Yes, as the first crypto currency, it is popular, but it is like a dinosaur for the replacement of which new species will come. "

On the resource-oriented economy: 

"Today, there are enough resources and technology in the world to provide all the inhabitants of the planet of Earth. As Mahatma Gandhi said: "The world is very large to meet the needs of all people living on Earth. But it is too small to satisfy human greed“. Therefore, if we correctly set the goal and use rationally the technologies and resources that are available today - it will be enough to provide all the people living on Earth at a much higher level and without destroying the ecology of our planet for future generations. If we leave the market economy, we will use resources in a completely different way, we will switch to alternative energy sources. You just need to set the right goal and focus on the development of man and society. For now in the world there is a totally different goal".

On the security of personal data and cyber-terrorism:

"Today corporations use personal data to sell us goods and make profit - advertising is imposed on us. You go and buy even what you do not need and possibly even what you harm your health with, but you buy because you are being manipulated. Here, on this manipulation for the sake of maximum profit, the whole world market economy is being built today ". But here is another very dangerous threat.

My programmers asked me not to raise the topic of cyber-terrorism. Our development team today is one of the best in the world, including encryption. Our programmers are 100% sure that the United States already has a quantum computer. On a number of indirect signs. Today, Russia urgently needs to work in the direction of creating quantum processors and an encryption system for them. I think Americans do not publish this information for the reason that there is not yet an encryption system for their quantum processor. They are working on it. We must understand that this is a matter of national security. Today, in fact, everything that is connected to the network is vulnerable. "

What Future awaits us?

"I am sure that in the short term we will stop using banks and fiat currencies. There will be only decentralized crypto-currencies, which will be rated among themselves - we will be choosing what crypto currency to use, as the same like today we choose a bank (they will have their risks and profitability). And in general, I am sure that if today society takes up the issue of goal-setting "where are we going and what tomorrow will be" - precisely in the long term, thinking about our future generations, we will build a completely different world where there will be absolute freedom – financial and economic. Any person will engage in socially significant work 3-4 hours a day, devote the entire remaining time to creative realization - singing, drawing, practicing music, archeology, flying into space, educating children! What a person really wants to do for the most of his time, rather than burn his life at the work that you hate like it happens today with the most people. Even more frustrating is that the majority of this work is empty and useless, like mining in Bitcoin, "- summed up Mr. Alexei Muratov.


A source:  


On March 28th 2018, Mr. Alexei Muratov will talk about the problems of crypto-currencies in Skolkovo

 On March 27th and 28th, Moscow will become a center of attraction for Russian and foreign experts who are developing the blockchain industry. In the Central Exhibition Complex "Expocenter", an International Blockchain Discussion Forum #DECENTER CRYPTOEVENT and the large-scale "Cryptoexhibition" will be held the. The event will bring together over 10,000 guests and participants from all over the world, so to become the largest event in the field of blockchain. Not only in Russia, but also in Europe! Thousands of specialists from the world of crypto-currencies, like miners, managers of ICO-projects, economists and experts from 20 countries of the world will visit the event to get acquainted with the latest innovations and blockchain-developments, as well as assess the performances of authoritative industry experts from Europe, USA, Russia and other countries. Chairman of the board of the International public movement “CWT” and the founder of the advanced crypto currency PRIZM Mr. Aleksey Muratov will also take part in the blockchain-forum, by making an expert report "Existing problems of crypto-currencies: prospects, solutions and possible alternatives".


The performance will be held on March 28th in the ICO hall at 17: 00-17: 30.

Link of the event:        

  • March 23, 2018 9:59 PM MSK