The Bank of Russia plans to begin testing a prototype of the digital ruble platform in January 2022, at the moment it is being developed, reports Prime with reference to the first deputy chairman of the Central Bank Olga Skorobogatova.
“The Bank of Russia plans to start testing a prototype of the digital ruble platform from January 2022, as planned by the concept that we published this spring. Currently, the platform is being actively developed, ”the press service of the regulator quotes her as saying.
According to her, the Bank of Russia does not yet see obstacles to the introduction of the digital ruble. “Nevertheless, we will test it first. It will take place in several stages and provides for different scenarios and different types of operations. Based on the results of this piloting, a roadmap for the introduction of the digital ruble will be developed, as well as the necessary amendments to the legislation, ”she added.
The digital ruble as a third form of money will be launched in Russia until 2030, follows from the Strategy for the Development of the Russian Financial Market until 2030, developed by the Ministry of Finance and the Central Bank in cooperation with federal authorities, representatives of business and the scientific community. The document is posted in the state automated system “Management”.
The Central Bank announced the beginning of the development of the concept of the digital ruble in October 2020. In April 2021, Skorobogatova announced her intention to launch testing of a prototype of this form of money in the first quarter of 2022. It will begin with the simplest operations – for example, transfers between individuals, as well as from individuals to legal entities when paying for goods and services. In general, testing will take the entire next year, and only then the Central Bank will determine which roadmap for the implementation of the digital ruble platform will be implemented and in what time frame.
The digital ruble has the properties of both cash and non-cash money. Transactions with it will be carried out through a single platform, which will be implemented in banking applications. At the same time, like banknotes, each of which has its own number, the “units” of the digital ruble will be identified by a unique digital code. For this form of money, special digital wallets will also be developed.