Participants in the Russian financial market discussed the digital ruble and preliminarily assessed the costs of its implementation on the platform of the Association of Russian Banks, according to«Ъ».
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As Viktor Dostov, chairman of the Association of market participants in electronic money and money transfers, noted, in the Central Bank’s presented concept of the digital ruble, the funding mechanisms for the project’s implementation are not specified.
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A spokesperson for an unnamed large bank said that the implementation of the digital ruble would require upgrading software and hardware.
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In Sberbank, only the costs of ensuring the security of using the digital ruble were estimated at 25 billion rubles.
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To reduce costs for deploying the digital currency and the risks in settlements, its launch should logically be based on the Bank’s existing payment system, says Vitaly Kopysov, the head of innovations at SKB Bank.
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The Bank of Russia believes that it’s still too early to discuss the cost of the project.
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Earlier, the Bank of Russia said that none of the Russian banks voiced opposition to the launch of the digital ruble.
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Read more about the project in ForkLog’s overview.
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Accessibility and traceability: how the Bank of Russia sees the digital ruble
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