Digital ruble today and tomorrow: Bank of Russia’s report on pilot testing
Participants in the pilot (individuals and companies from over 150 localities of the Russian Federation) have opened about 2,500 wallets and conducted about 100,000 transactions on the digital ruble platform. The regulator publishes interim results of the pilot and plans for the development of the new form of the national currency in the report Digital Ruble: Current Status.
Apart from testing simple operations, participants in the pilot focused on enhancing the customer journey, as well as security issues, including protection from cyberattacks and ensuring data privacy. Preliminary results demonstrated the platform's efficiency and resilience.
The document states that the Bank of Russia is currently holding additional consultations with banks participating in the project and government agencies regarding the economic model of the digital ruble, namely the most popular scenarios for the implementation of smart contracts, which will make it possible to use the innovative potential of the new form of the ruble to improve the economic efficiency of processes, including the fiscal one.
Future plans provide for the expansion of the platform's functionality, i.e. the launch of payments in e-commerce, connection of individual entrepreneurs to the platform, making payments for mass and regular operations according to registers, etc.
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