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Russia will test its national digital currency, the “digital ruble”, by the end of 2021

According to a senior official, the Central Bank of Russia apparently intends to launch a prototype of a digital ruble platform before the end of 2021.

to the the report According to The Bloc, quoting the Russian news website Prime, Alexey Zabotkin, the deputy governor of the Central Bank of Russia, said that the prototype would be available before additional tests in 2022 and after a public unveiling. Will be operational. Another report by CoinDesk also confirmed that the Central Bank of Russia intends to make its plan to build a public digital ruble.

These developments add a degree of certainty to what Russian Central Bank Governor Elvira Nabiullina said last October. He cited the launch of the country’s national digital currency by the end of 2021 as a mere possibility. Russia’s central bank has not yet confirmed any progress on the national digital currency prototype this week.

Nabiolina has previously said that the national digital currency will act as a “third form of money” and will not replace cash and non-cash digital payments, but will simply give users an additional payment option. He also said that although the national digital currency does not allow anonymity like cash, the use of digital currency will increase the privacy of users.

While Zabotkin hopes to provide the national digital currency infrastructure by the end of 2021, he says users will not be able to make real-money transactions during the initial trial period.


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