The Bank of Russia has completed the creation of the digital ruble concept. The organization has published a related document describing its use and development plans.
According to the description, the digital ruble will become the third form of the Russian national currency. The central bank will be responsible for its release and control. In December 2021, a prototype of the currency platform will be shown, and its testing is planned for 2022. According to the first deputy chairman of the Central Bank Olga Skorobogatova, the implementation of the roadmap and the timing depend on the test results.
The Central Bank noted that it will fully independently develop the platform. According to Skorobogatova, there are no ready-made solutions for their project yet. Presumably, the bank will develop a hybrid architecture – with a centralized system and distributed ledgers.
A wallet with digital rubles can be opened through mobile applications of banks. With their help, the calculation will be carried out. You will need a separate wallet to make offline payments. In the future, the Bank of Russia will set tariffs for transactions using digital rubles. All details will be discussed at the next stage of development. Presumably, transfers will remain free for individuals.
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