So far, there are thousands of cryptocurrency tokens around the world. Some countries have registered hundreds of tokens for various purposes. The tokens are a way for investors to make money. For this reason, investors should be fully informed of all cryptocurrency projects to help them decide on which project they should invest in. Although this article might be controversial, information is the key to success. Currently, Russia is in the middle of an invasion as it tries to take over Ukraine. This is causing a lot of headaches, including financial issues. But one of the main issues that have come up from the issue is moral challenges. People, organisations, and countries have to decide to either work with Russia for their benefit or refuse for moral issues. Whatever they choose is up to them.
Russia Atomyze project
One of the most recent projects from Russia is Atomyze. It is a cryptocurrency project that is gaining traction and shaping up to be one of the potential money-making projects. In February 2022, the registration of Atomyze as a cryptocurrency project happened. There was no more news since then until recently. Atomyze just launched its token to the crypto market. Although Atomyze just launched its token, there is more to the project than meets the eye. Some of the details that make this special project include the following;
Why the Atomyze project is standing out
Firstly, is who started and runs the projects. The entire project started and is running under the Russian oligarch Vladimir Potanin. This is where the moral issues begin. He is the project’s co-founder, and the other partner is Interros. Interros is a Russian conglomerate and an investment firm behind many of its most powerful projects. Other project partners include Rosbank. A local bank with the power to give the project authenticity and know-how in the financial world. Rosbank is both a partner and an investor in the project. The government is another player involved in the project. The government and palladium, a precious metal, back this project.
The use of palladium to back the token might be a game changer in the cryptocurrency market. Every dollar in the economy has gold in reserve far backing, but the strategy has changed. Bitcoin has been considered digital gold, although the currency is volatile and not backed by any physical object. Atomise, on the other hand, is a stablecoin backed by palladium. This means that it will be stable and backed by a commodity that can be sold to give value to the project.
To sum up, Vladimir Potanin, the Russian oligarch behind the project, is the CEO of Russian Nickel and Palladium Mining. He plans to tokenise palladium, as he hinted in 2019. He bought Tinkoff, another Russian bank, crucial to the project. The oligarch also bought Reksot, a software engineering firm, to help him with the project. The company’s main goal is to dethrone Bitcoin as the world’s leading cryptocurrency.