The Russian Central Bank may start testing the digital ruble as early as the end of next year, said CBR Chairman Elvira Nabiullina at an online conference.
According to her, after discussing the report submitted earlier and collecting feedback on it, the Central Bank will decide on the expediency of launching its own digital currency.
„Then, in our opinion, there must be a pilot phase with a limited number of users in order for everything to be worked out. We believe such piloting will be possible somewhere around the end of next year,“ Nabiullina said.
She noted that the possible creation of a digital rouble is not Immediate Bitcoin intended to displace other types of money.
„Our task is to ensure that one type of rouble can be quickly converted to another. We do not set any task to save on emissions,“ said the Head of the Central Bank.
Nabiullina believes that the digital rouble „fits very seamlessly into what is called the development of the digital economy as a whole“.
She also noted that confidentiality is an important condition for the introduction of the new tool. However, the head of the Central Bank urged not to confuse the latter with anonymity:
„There will be no anonymity in the sense that it is in cash. But it is assumed that confidentiality will be strengthened.
Let’s remind, the Bank of Russia has presented the report devoted to digital ruble in October.
Read more about the initiative of the Central Bank of Russia in an exclusive ForkLog.
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