The Bank of Russia began a public consultation on the issue of digital subsection Alexandrov | 15.10.2020
“The emergence of the citizens and businesses of new financial opportunities that meet the needs of the digital world, increases the competitiveness of the economy as a whole. Therefore,The Bank Of Russia,
whose objectives include the development of a national payment system, examining the possibility of issuing digital currency Central Bank (CVCB, central bank, digital currency, CBDC) — digital
the ruble,” – said the press service of the regulator.
For wide discussion of this issue, the Central Bank has published the Advisory report.
Citizens will have the opportunity to enroll digital rubles in their e-wallets and to use them with mobile devices and other media
in online mode, and in the absence of Internet access, according to the regulator.
Citizens and businesses will be able to freely transfer money from one form to another — that is, from digital of the ruble in cash or in a Bank account
and back. In this case it is necessary to develop special technologies that will allow for the use of digital ruble in offline mode. Digital the ruble will be able to combine
the advantages and cash, and cashless money.
Digital the ruble will perform all three functions of money: means of payment, measure of value and store of value. All three forms are completely equivalent: as it is now
1 ruble in cash non-cash equivalent to 1 ruble and 1 ruble will be the digital equivalent of each of them.
It is expected that digital the ruble will be able to make payments even faster, easier, and safer, says the regulator. The development of digital payments, equal access to digital ruble for all
economic agents will reduce the cost of payment services, money transfers and increase competition among financial institutions. This will stimulate
for innovation in the field of retail payments, and in other areas and will support the development of the digital economy. Reducing the dependency of users
from individual providers to increase the resilience of the financial system.
Digital the ruble is the obligation of the Central Bank is implemented by digital technology and has no relationship to the cryptocurrency. It FIATA currency
that is, the currency, stability of functioning of which is ensured by the state through the Central Bank.
It is noted that the Central Bank has not yet made a decision on the issue of digital ruble. The regulator considers “essential to discuss the key aspects, benefits, risks, stages
and the timing of this project with the financial sector, the expert community, as well as with all interested parties.”
government agencies, banks, financial instruments, Digitalization, Payment system