The world's largest producer of palladium, MMC Norilsk Nickel, plans to launch stablecoin. Its price will be tied to the cost of the precious metal, and the company plans to receive assistance from the Swiss regulator in placing tokens.
Owner of a 30.4% stake in MMC Norilsk Nickel, Vladimir Potanin, made a sensational statement. He said that he was negotiating with the Swiss regulators to issue fixed-rate tokens, stablecoins. Its price will be tied to palladium, which will greatly simplify the trade of this asset.
The company MMC Norilsk Nickel worldwide produces 40% palladium, 12% nickel, 10% platinum and 5% cobalt. It holds a share of 30% in the Russian metallurgical market of non-ferrous metals. The status of its largest shareholder Vladimir Potanin magazine Forbes estimates at $ 18.5 billion.
According to Potanin, the distributed registry is not a tribute to fashion. It actually offers the consumer a number of key benefits. Even large buyers of non-ferrous and precious metals are interested in acquiring stablecoins. Then they will not have to choose the entire planned amount of the asset, they will be able to receive it in the required quantity as needed.
It is difficult to call a Russian entrepreneur an enthusiast of cryptocurrencies, he looks at them from the standpoint of the development of an existing business. Now he is working with BCG Digital from New York on the launch of another project.
Development based on the blockchain will allow you to create a platform for registering intellectual rights. On it, startups will be able to offer their ideas, and consumers will be able to buy out the rights to use them.
By the standards of Potanin, the launch of all platforms will require a small amount - up to $ 6 million. However, from it you can get a huge economic effect. After all, now every startup needs to spend a lot of time and money to register their own patents. If you transfer this work to the blockchain, then the registration of the right will take a few hours, and the costs will be reduced by an order of magnitude.
However, not everything is so simple. A Russian businessman is forced to implement his ideas abroad since there is no regulation of this industry in the country. The central bank has taken a very tough stance and seeks to ban the use of digital financial assets in any form.
Parliament is also not able to decide on its position, because sometimes legislative initiatives contradict common sense. Large companies want to develop in the blockchain area, but do not have a legitimate opportunity to do this.
Non-official sources report that the social network Vkontakte is studying the issue of creating their own cryptocurrency. It will be available to users who are active and spend a lot of time here.
According to the new draft law “On digital financial assets”, only banks and stock exchanges will be able to work with this financial instrument. Vladimir Potanin is sure that the blockchain’s possibilities are much wider. The same stablecoin for palladium may be of interest not only to commercial organizations but also to individuals. He is currently negotiating with the Central Bank of the Russian Federation. But apparently, it is much easier for him to agree with the Swiss regulators.