Bank of Russia: the digital ruble represents an entirely different quality of payments

The digital ruble represents an absolutely different quality of payments from the point of view of the budgetary sphere and social payments. This was stated by Olga Skorobogatova, first deputy chair of the Bank of Russia, according to «Известия». 

In her words, the digital ruble will allow “to see the entire chain of payments from start to finish.”

Skorobogatova also noted that a meeting with Finance Minister Anton Siluanov dedicated to this project has already taken place.

Earlier, Deputy Governor of the Bank of Russia Alexei Zabotkin stated that the Bank plans to present a prototype of the platform for the digital ruble by the end of the current year, and testing will begin in 2022.

Earlier, the central bank released a report dedicated to the digital ruble in October last year.

A detailed analysis of the document can be read in ForkLog’s exclusive.

Accessibility and traceability: how the Bank of Russia sees the digital ruble

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