Russian digital currency and smart contracts

in hive-175254 •  3 months ago 

Hello dear friends and followers, today I bring you a topic related to Russia's digital currency and smart contracts, this according to information released by the Central Bank of Russia whose executives have stated that they are aiming for the full launch of the digital ruble, whose technology will fully connect banks to the platform through the use of smart contracts.

The Central Bank of Russia had already announced on several occasions that it was working on its central bank digital currency, the digital ruble, in 2021 it said that the prototype would be launched by the end of that year, which did not happen. In another news item it said testing would be in 2022. In June 2021 it reported that it had chosen 12 banks for testing the digital ruble.

Now, a new document from the Central Bank of the Russian Federation (CNR) reports that the institution plans to begin full implementation of the digital ruble within two years. The document includes this information among its monetary policy priorities for the period 2023-2025.

Thus, the draft document setting out the main directions of its monetary policy over the next three years reveals that one of the regulator's key objectives will be the introduction of a digital version of the national fiat currency.

While the full-scale implementation of the digital ruble will begin in two years, some of its features, such as the offline mode, as well as the connection of non-banking financial organizations and exchanges will be launched a year later.


News.Bitcoin. Bank of Russia Aims for Full Launch of Digital Ruble in 2024. Link


The cover image was designed by the author: @lupafilotaxia, incorporating image: News.Bitcoin

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greetings @lupafilotaxia
this decision announces without a doubt that it is a war strategy with which they are currently living with, besides I think they are one step ahead of all their enemies and it will allow them to get ahead
thank you very much for sharing

Hello @lupafilotaxia, It seems to me that on the part of the Russian government this is a rather strange decision in wartime, surely there is some hidden intention in all this, I hope for new updates. I don't particularly think it's wise for them to do this in the midst of a war with Ukraine.

Hi @tocho2

It certainly is a rather strange move, and more so considering all the time they have wasted postponing the launch of their digital currency.

Best regards, be well.

With will be no different from CBDC currency created to monitor users privacy, its new innovation as it seems Russian will be integrating the new digital currency with smart contract lets see how it all goes thanks for the share.

Hi @mccoy02

That's right it seems that there is no difference, let's wait what will be the end of all this.

Best regards, be well.

The Russian government seems to be advancing despite the war and the intelligent contracts issues highlighted above show that they looking above the situation of other things

Hi @lebey1

Correct beyond the war, it looks like the Russians are marching in the right direction on this one of having their own digital currency.

Best regards, be well.