The Bank of Russia will launch the digital ruble before 2030 of the year – Bits Media

According to the Strategy for the Development of the Russian Financial Market, published by the RF Ministry of Finance, the launch of the digital ruble will become one of the priority tasks in the field of digitalization before 2030 of the year.

As stated in the posted
document, the digital ruble will become the third form money, issued by the Central Bank of Russia. The objectives of the digital ruble will be the development of payment infrastructure and innovative financial instruments, increasing the availability of banking services for organizations and individual users, as well as reducing transaction costs.

The launch of the digital ruble will allow the Bank of Russia to “prevent the use of money surrogates, posing high risks for citizens". Under these "surrogates", obviously, refers to public cryptocurrencies.

To ensure consumer protection, International standards of the Committee on Payments and Market Infrastructure will be taken into account (CPMI), International Organization of Securities Commissions (Iosco) and the Financial Stability Board (FSB). С помощью цифрового рубля правительство сможет более оперативно бороться с кризисом и инфляцией, поддерживая стабильное функционирование российской экономики.

As part of the initiative, it is planned to continue the development of the Mir payment system, payment system of the Bank of Russia, Fast payment systems and financial messaging systems. Besides, For more productive transaction analysis, the Bank of Russia will use SupTech technology, and to monitor compliance with regulatory requirements by market participants - the RegTech solution. The Bank of Russia believes, that these technologies will allow you to effectively manage risks and ensure information security.

According to a recent poll, conducted by HeadHunter, only 11% Russian citizens are ready to receive salaries in digital rubles.