Russia (bbabo.net), - In Russia, testing of the digital ruble has begun. According to the Central Bank, the regulator and market participants have successfully completed the first transfers in digital rubles between citizens.
The Central Bank recalled that the creation of a prototype digital ruble platform was completed in December 2021. 12 credit institutions wanted to take part in testing the platform.
“Now three banks from the pilot group have already connected to the platform. Two of them have successfully completed a full cycle of operations to transfer digital rubles between clients using banking mobile applications,” the Central Bank said in a statement.
It is noted that during testing, customers not only opened digital wallets using a mobile application, but also exchanged non-cash rubles for digital ones. After that, a mechanism for transferring digital rubles between accounts was worked out.
According to Olga Skorobogatova, First Deputy Chairman of the Bank of Russia, transactions in digital currency will be free for individuals, and for businesses, the new mechanism will “reduce costs and create opportunities for the development of innovative products and services.” "The state will receive a new tool for targeted payments and administration of budget payments," the representative of the Central Bank said.
In total, the regulator plans two stages of testing the digital ruble. At the first stage, it is planned to work out the issuance of digital rubles, the opening of digital wallets for banks and citizens, as well as transfers between citizens.
The second stage involves testing operations for paying for goods and services, as well as paying payments for public services.
In the future, the possibility of paying in places without the Internet (offline mode) will also become available, as well as transactions with the digital ruble for non-resident customers.
The concept of the digital ruble implies that citizens, companies and government agencies will be able to exchange cash and non-cash rubles for digital ones and credit them to electronic wallets. Wallets with digital rubles can be opened through banking applications, through which customers will conduct transactions with digital rubles. Wallets will be placed in the payment system of the Bank of Russia. The digital ruble, in fact, will be an additional means of payment to cash and non-cash money.
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