Trends in the financial sector discussed at the "Inventing the Future" Symposium

Participants in the panel discussion "Currency of the Future," held as part of the International Symposium "Inventing the Future" at the National Centre RUSSIA, discussed global changes in the world financial sector. Much of the discussion focused on how the role of money may change in the near future, how new technologies are impacting the financial world, and whether money will continue to exist in the familiar form we know.

According to Dmitry Aksakov, Executive Director of the Business Unit at VEB.RF, one of the first areas in finance likely to experience significant change will be the investment sector.

"As a user, I don’t see how payment systems could be made even more convenient. But the issue lies in how people manage their discretionary funds. In the near future, we may see efforts to emotionally engage people in the process of investing their savings," Dmitry Aksakov noted.

He stated that the latest technologies will help improve investment tools and increase financial literacy. Dmitry Aksakov also emphasized that while money will continue to become more convenient, it will certainly not disappear, as there is currently no replacement for its function.

"From a client’s perspective, there are only three components of the financial experience. The first is how to pay, the second is what to pay with, and the third is how to manage this money. And in all three components, by 2030, I am confident we will see radical changes," stated Stanislav Korop, Acting Director of the Financial Technologies Department at the Bank of Russia.

"The digital ruble and, more broadly, digital national currencies will firmly take their place in circulation alongside fiat currency," he added.

In turn, Wang Xiaozhan, Deputy Secretary General of the Union of Chinese Entrepreneurs in Russia, Deputy Commercial Director of MTVK GREENWOOD, and Vice President of the Shandong Association in Russia, stated that a key requirement for the global currency of the future should be its inability to be used for sanctions against anyone. According to the Chinese speaker, in the near future, the BRICS currency could assume the role of such a stable global currency.

Also participating in the discussion were Matvei Voitov, Marketing Director of 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, Representative of the Commissioner for the Protection of Entrepreneurs' Rights in the Internet Sphere under the President of the Russian Federation.

The International Symposium "Inventing the Future" is being held from November 4 to 6. Participants include scientists, researchers, futurists, science fiction writers, and representatives from government bodies from 101 countries, including Russia, India, Italy, Iran, China, the UAE, Serbia, the USA, and France. The program features over 60 sessions across four tracks: "Future of Human," "Future of Technology," "Future of Multipolar World," and "Future of Civilizations." The program and event broadcasts are available at the website future.russia.ru/en.

The International Symposium "Inventing the Future" is the first event of the National Centre RUSSIA, which was established on July 1, 2024, by the order of President of the Russian Federation Vladimir Putin. The Centre aims to preserve the legacy of the International RUSSIA EXPO and showcase the achievements of the country and its citizens. The work of the Centre involves federal authorities, state companies, corporations, and regions.