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Home NEWS Russia preparing to pilot the digital ruble?

Russia preparing to pilot the digital ruble?

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Russia preparing to pilot the digital ruble?

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Elvira Nabiullina, the governor of the central bank of Russia, has said that a pilot digital ruble project is likely to start in 2021.

As reported by Russian news agency TASS, Ms. Nabiullina said during an online press conference on Friday, October 23 that the central bank is currently gathering public opinion on whether to issue technical rubles. number or not.

"If the majority of opinions agree, the central bank will plan to pilot the digital ruble right next year with a certain number of users," Ms. Nabiullina said.

She added: “We are seriously considering the development of the digital ruble, predicting the high probability it will happen by the end of 2021, this digital currency project is really very promising for the platform. the economy of Russia ”.

Nabiullina also further notes that if the digital ruble is issued, it will not replace cash and non-cash or digital payment options in Russia.

Read more: America and China in the national crypto war 

With the digital ruble, which will be the "third form of payment", people and businesses will be free to choose what is more convenient for them.

One of the main goals of the digital ruble project is to ensure the "maximum security" of the currency, the central bank governor said. Cryptocurrency will not be as anonymous as cash, she explained, but its security must be maximized.

Community consultation on the digital ruble project will be open until December 31.


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