Authorities in the Russian Federation plan to start testing a prototype of the digital ruble in January 2022, made it known this Saturday the Izvestia newspaper with reference to the Ministry of Economic Development, the Central Bank and the State Duma of Russia.
The prototype of the platform for using the digital ruble is scheduled to be ready in December 2021. The experiment of the launch of the digital currency will be carried out in several stages, expanding the list of operations and increasing the number of participants in the project. , in which they are currently involved 12 financial institutions.
The corresponding legislative changes are expected to begin to be implemented from January 2022, in parallel with the experiment, reported Anatoli Aksákov, head of the financial market committee of the State Duma. Will be introduced modifications to at least eight federal laws and five codes: civil, tax, budgetary, criminal and administrative.
According to Aksákov, holders of fiat money and digital rubles will have the same rights. He indicated that the new form of currency will act as a means of payment, value estimation and savings, just like the usual money, adding that the “seamless” payment space and “the simplicity of ruble convertibility will be guaranteed. from one form to another “.
For his part, the deputy director of the Department of Development of the Digital Economy of the Russian Ministry of Economic Development, Alexei Minayev, affirmed that there is a trend of the launch of digital forms of national currencies in the world, emphasizing that this initiative It has practically nothing to do with cryptocurrencies.
Advantages of the project
From the VTB bank they indicated that the project provides for the integration of the services of opening a person’s portfolio through a mobile application and transferring the new form of the national currency between individuals.
Representatives of another Russian bank, the PSB, detailed that the introduction of the digital ruble will allow reduce transaction costs, and will provide clients the opportunity to store money securely on the Central Bank platform and a unified approach to estimating the cost of transfers.
Other advantages of the project include greater comfort in operations and development of smart contracts, which will help increase transparency.
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