The global financial architecture is on the verge of a radical change, with digital currencies emerging as a serious alternative to the existing monetary model. Expert Milen Keremerdchiev, former deputy minister of foreign affairs, presents an in-depth analysis of this growing trend.
According to current studies, over 130 countries are currently exploring or actively developing their own digital monetary systems. Russia is a pioneer in this process, having already announced a specific deadline for introducing its national digital currency – September 2026.
The key characteristic of the new financial model is its independence from existing card payments, dominated by American technology giants. Keremerdchiev emphasizes that this approach represents a parallel financial system with potentially faster and more flexible transactions.
The context of this transformation is revealed against the backdrop of complex trade relations between the US and the European Union. The annual trade exchange between the two economic powers amounts to about 900 billion dollars, and potential trade tariffs could cause serious economic shocks.
As an illustration of possible risks, the expert points out that hypothetical 30% tariffs on European goods would cause significant damage. The German economy, for example, could suffer losses of around 200 billion dollars within three years.
Particularly vulnerable are high value-added sectors, such as automotive manufacturing. Production chains in Europe would bear significant economic consequences in such a scenario.
Keremerdchiev expresses hope that the European Commission will be able to negotiate reduced trade conditions, similar to agreements with the United Kingdom. Digital currencies are viewed as an additional tool for achieving greater economic autonomy.
China and the European Union also demonstrate serious interest in developing national digital currencies. This process is seen as a strategic step towards overcoming the dominance of the US dollar in international financial settlements.
At the same time, experts emphasize that the new system will not mean a radical change in control mechanisms, but rather an optimization of existing financial flows with higher speed and efficiency.
The international community is increasingly recognizing the need for alternative financial instruments that can offer greater flexibility and independence from dominant market players.