Central Bank wants to use digital ...

The Central Bank wants to use the digital ruble for international payments
CONTENT

  • The Central Bank of the Russian Federation does not exclude the possibility of international settlements with the digital ruble

  • All money will be controlled exclusively by the regulator

  • The Bank of Russia will also present special smart contracts, however, it will be impossible to issue stablecoins based on and

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The digital version of the national currency may be suitable for settlements with China, according to the Central Bank of the Russian Federation

Central Bank wants to use digital ...

The Bank of Russia does not exclude the possibility of using the digital ruble for international payments. About this writes “Parlamentskaya Gazeta” with reference to the statements of the first deputy chairman of the Central Bank Olga Skorobogatova.

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Skorobogatova not only did not rule out the possible use of digital currency in international settlements, but also added that China could potentially become the first country for such payments..

Whether the function of international payments will be available at the start with the launch of the digital ruble, the first deputy chairman of the Central Bank did not specify.

Pay slavery

The two-tier “Model D” chosen by the majority of market participants provides for the opening and maintenance of the wallets of financial institutions and other intermediaries exclusively by the regulator. The Russian Association of Cryptocurrencies and Blockchain (RACIB) previously stated that the digital currency models proposed by the regulator “put an end to maintaining a competitive environment”.

Central Bank wants to use digital ...

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At the same time, the Central Bank of the Russian Federation is categorically opposed to the separation of powers for the issue and control of digital ruble wallets with banks. However, Skorobogatova believes that the chosen model will solve the current “issues of payment slavery”.

“So, in the case of a digital ruble, access to the wallet will be possible through any bank,” she said..

In addition to total control, marking digital rubles will prohibit buying alcohol for certain digital coins. Along with the digital ruble, special smart contracts will also be launched to conclude transactions with counterparties.

However, it will be impossible to issue stablecoins through such smart contracts, the Central Bank of the Russian Federation noted earlier.

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