Russia: Testing of the digital ruble would start in 2022

Saint basil's cathedral on red square, moscow, russia. night Premium Photo

As we mentioned in a previous note, various governments have been interested in the transformation of the monetary system, finding it attractive to implement the central bank digital currency (CBDC).

The Central Bank of Russia has informed that the start of the pilot operations of the digital ruble, the CBDC of Russia, is planned from 2022. According to Alexey Zabotkin, deputy governor of said bank; stated that the prototype of the aforementioned CBDC would be completed by the end of 2021 and that it would not include real transactions since this would be the starting point of the ecosystem, according to what was reported by Cointelegraph.

However, it is expected that this prototype can overcome the risks associated with cybersecurity and fraud, which were warned by the Association of Russian Banks, when the Central Bank of Russia published the consultation document on the development of the digital ruble project, according to the aforementioned portal.

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Carlo Palomino
Bachelor from the National University of San Marcos (UNMSM). With interest in Digital Law and New Technologies. I endorse the phrase: "Knowledge is useful as it is shared." Contact: carlo.palomino19@gmail.com

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