You can’t escape progress.
The digital ruble as the third official method of storing and using money has been in development for several years and is currently being tested as part of a pilot project. Apparently, the tests are going well, since today the head of the Central Bank of Russia Elvira Nabiullina admitted the possibility of mass implementation of the digital ruble as early as June next year.
As Nabiullina noted, the process will be gradual, but it will start, according to the plan, next summer. In the future, as the Central Bank expects, the digital ruble will become as familiar a means of payment for Russians as the current non-cash.
In theory, the digital ruble has two main advantages over non-cash payments. Firstly, it is decoupled from the intermediary represented by the bank: the user account of the digital ruble will be kept directly in the Central Bank, and the third-party bank will do only what it should do – lend to the economy. Secondly, it is possible to track the origin of the digital ruble and the entire chain of its transfer. Simply put, the digital ruble will become an ideal anti-corruption tool and, obviously, will be first implemented in everything related to government procurement.
