In the central bank they see demand for using the digital ruble and none of the Russian banks voiced opposition to its issuance. During the Does Russia need a digital ruble discussion, said Deputy Chairman of the Bank of Russia Alexey Zabotkin.
According to him, the digital ruble is being considered as an alternative means of carrying out payments, one that would lower costs and cheapen payment services.
He also noted that the digital ruble would enable “a system for tracking payments.”
Anatoly Aksakov, head of the State Duma committee on the financial market, is convinced that “the digital ruble is the future.” He believes demand for the new asset, if issued, will be high from both citizens and organisations.
“If we didn’t believe there was demand, we probably wouldn’t have wasted time writing the report,” said Alexey Zabotkin.
He noted that in the comments received within the framework of the discussion of issuing a CBDC there was no view that the digital ruble was not needed, although the banking sector and expressed concerns.
The head of Mastercard in Russia, Alexey Malinovsky, noted that a number of central banks are preparing to launch CBDCs in the near future:
“From the information we have gathered, we understand that around 10% of central banks in the next 1-3 years intend to roll out pilots to some degree of readiness.”
In October last year, the Bank of Russia released a report dedicated to the digital ruble.
A detailed analysis of the report can be read in ForkLog’s exclusive.
Accessibility and traceability: how the Bank of Russia sees the digital ruble
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