Trends in the Financial Sector Discussed at the “Creating the Future” Symposium

JOHANNESBURG, – PARTICIPANTS of the panel discussion “Currency of the Future,” held at the International Symposium “Creating the Future” at the National Center “Russia,” discussed global changes in the financial sector.

A significant portion of the conversation focused on how the role of money may evolve in the near future, the impact of new technologies on the financial world, and whether money will continue to exist in its current form.

According to Dmitry Aksakov, Executive Director of the Business Unit at VEB.RF, one of the first areas of finance to undergo significant changes will be the investment sector. “As a user, I don’t see how the use of payment systems could be made more convenient. The issue lies in how people manage their disposable income. In the near future, we may see attempts to emotionally engage people in the process of investing their savings,” stated Dmitry Aksakov.

He noted that new technologies will aid in improving investment tools and enhancing financial literacy. Aksakov also emphasized that while money will become increasingly convenient, it will not disappear, as there is currently no substitute for its function.

The International Symposium “Creating the Future” runs from November 4 to 6, featuring scientists, researchers, futurists, science fiction writers, and government representatives from 101 countries

“From the client’s perspective, there are only three components of financial experience: how to pay, what to pay with, and how to manage that money. I am confident that by 2030, we will see radical changes in all three aspects,” said Stanislav Korop, Acting Director of the Financial Technology Department at the Bank of Russia. “Digital rubles and digital national currencies in general will firmly establish their place alongside fiat currencies,” he added.

Wang Xiaozhan, Deputy Secretary General of the Union of Chinese Entrepreneurs in Russia, Deputy Commercial Director of MTVC GREENWOOD, and Vice President of the Shandong Association in Russia, noted that a key requirement for a global currency of the future should be the inability to use it for sanctions against any country. He suggested that the BRICS currency could play the role of a stable global currency in the near future.

Other participants included Matvey Voitov, Marketing Director at Web3 Tech; Ruslan Yusufov, futurist, founder, and managing partner of MINDSMITH; science fiction writer Mikhail Savelichev; and Sunny Aggarwal, co-founder of Osmosis Labs (USA). The discussion was moderated by Dmitry Marinichev, a representative of the Commissioner for the Protection of Entrepreneurs’ Rights in the Internet Sphere under the President of the Russian Federation.

The International Symposium “Creating the Future” runs from November 4 to 6, featuring scientists, researchers, futurists, science fiction writers, and government representatives from 101 countries, including Russia, India, Italy, Iran, China, the UAE, Serbia, the USA, and France. The program includes more than 60 sessions across four key areas: the future of humanity, the future of technology, the future of a multipolar world, and the future of civilizations. Event details and broadcasts are available at https://future.russia.ru/.

The “Creating the Future” Symposium is the first event held by the National Center “Russia,” established on July 1, 2024, by decree of President Vladimir Putin. The center is tasked with preserving the legacy of the International Exhibition Forum “Russia” and showcasing the achievements of the country and its citizens. Federal authorities, state companies, corporations, and regional representatives are involved in the center’s work. – CAJ