Launch at high speed – Russia was already convinced that a digital ruble was better than cryptocurrencies. And now the Russian Central Bank wants speed up launch of this digital currency. A haste motivated above all by the current context.
Currency Battlegrounds: A Digital Currency Ahead of the Agenda
Faced with Western sanctions, the Russian Central Bank accelerated the step concerning the launch of its digital ruble.
The first vice-president of the institution, Olga Skorobogatovaindeed indicated that the digital currency pilot project would start in April 2023while its launch was originally scheduled for 2024.
The pilot project will see actual transactions of digital rubles made by a number of users. A dozen Russian banks asked to be part of this project. 3 of them are said to have already connected their systems to the digital ruble platform. 2 banks would thus have carried out, successfully in the past, a complete cycle of transfers in digital rubles between customers.
The Central Bank has also announced that it wishes to begin the deployment of smart contracts on its digital currency platform.
>> Play it safe, register on the reference of FTX crypto exchanges (affiliate link) <<
The digital ruble from 2021 to 2023: pilot project after successful first tests
Last spring, the Central Bank of Russia announced that the digital ruble would be ready by the end of 2021. The year 2022 should be devoted to trials digital currency with the participation of commercial banks.
And the Russian Central Bank actually carried out, in February 2022, tests of the platform of its digital currency. She then indicated that the first transfers were a hit.
The users selected for the test reportedly managed to open a wallet and transfer the digital ruble usingmobile appss. They would have also succeeded in exchanging the money “ classic » held in their bank accounts against the digital currency.
The Russia is certainly ready to use cryptocurrency payments to circumvent Western sanctions. However, the Russian Central Bank apparently continues to believe that only his MNBC can really help russia in the current economic and financial standoff between it and the United States and its allies.
It is now the entire so-called “traditional” economy that is getting ready to take advantage of the potential of Bitcoin and cryptocurrencies. And you ? Don’t wait any longer for register on the benchmark crypto exchange FTX. A lifetime reduction in your trading fees awaits you thanks to the JDC affiliate link.