Russia calls for a payment system based on Blockchain technology
With Western sanctions on the country of Russia, its leaders are turning to blockchain technology as a way to shore up the global financial system.
“Digital currencies and blockchain technology can be used to create a new system of international settlements that will be much more convenient, absolutely safe for its users and, above all, will not depend on banks or interference from third countries,” said the Russian. President Vladimir Putin at an event hosted by Sberbank, Russia’s largest bank and one of the government’s main lenders, as reported Cointelegraph.
“I am convinced that something like this will definitely be created and grow because no one likes the diktat of the monopolists, which harms all parties, including the monopolists themselves,” Putin added.
Sure, the comments have geopolitical tones that benefit the country, but they also underscore the global reach of blockchain technology. For investors looking to shore up their portfolios for growth opportunities in 2023 and beyond, blockchain-focused funds are an option to consider.
The flexibility of active exposure
In an uncertain market like today, it is imperative to have some flexibility. This means having the ability to change position in the market when conditions deem it necessary, which can be achieved using active management through exchange-traded funds (ETFs) like the ETF Amplify Transformational Data Sharing (BLOK).
As mentioned, BLOK features an active management strategy that can adapt to market movements by placing assets in the hands of seasoned portfolio managers. BLOK adds diversified exposure and exposure to cryptocurrencies without investing in the currencies themselves.
Given the growing adoption of blockchain overseas, global exposure adds a touch of diversification to portfolios. This is exactly what BLOK is doing by reviewing opportunities outside of the United States.
While the majority of the fund (75%) contains holdings in companies based in North America, the fund also diversifies with holdings in Western Europe and Asia-Pacific, investing in companies using and developing blockchain technology, the technology behind cryptocurrencies like bitcoin. This gives the fund exposure to overseas growth opportunities where this technology can be fully exploited.
By its product websiteBLOK features:
- A global portfolio of professionally selected stocks of companies involved in blockchain technology and indirect exposure to crypto.
- An active management approach that could allow the fund to remain flexible, make timely decisions and identify companies best positioned to take advantage of the developing blockchain technology space.
- The convenience and transparency of the ETF structure.
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