The Central Bank of Russia announced that it will begin research for the digital ruble, the national digital currency.
The Central Bank of Russia announced in the article published on its website that it will start research studies for the digital ruble as a national digital currency. In the published article, it was stated that the digital ruble will be shaped by the society’s demand for new payment methods with the digitalization of the economy and the development of financial technologies.
It Will Have The Same Features As Cash Money
Stating that the digital ruble will be an additional form of the Russian national currency, the Central Bank of Russia announced that the digital ruble will be designed in a structure that combines the features of cash and non-cash ruble. Digital rubles, which will allow remote payments and online agreements such as non-cash, can also be used in offline situations where internet access is not available, such as cash.
Faster, Easier and Safer Payments
In the article, which stated that payments to be made with digital rubles could become faster, easier and more secure, it was stated that there are expectations that digital money may reduce the cost of payment services and increasing competition among financial institutions.
It was stated that the digital ruble could become a new and useful additional payment tool for buyers and sellers in regions where access to financial infrastructure is limited. It has been said that with the digital ruble, financial services will become more affordable and the quality of life of the people will increase.
The Digital Ruble Is Not A Cryptocurrency
Stating that the digital ruble is not a crypto currency, the Central Bank of Russia emphasized that cryptocurrencies have a decentralized structure, but that the digital ruble is a currency that is under the responsibility of the Central Bank of Russia, provided by the state and used through digital technologies.
When Will The Digital Ruble Be Released?
The Central Bank of Russia announced that they have not made a clear decision yet to issue digital rubles. Believing that the introduction of the digital ruble will be an important event for the economy and society, the Central Bank of Russia emphasized in its article that it is important to discuss the main aspects, advantages, possible risks, stages and timing of this project with all stakeholders of the society.