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Author Topic: [2015-09-18] Russia to Create BitRuble, a State-Run Digital Currency, for 2016  (Read 358 times)
tyz
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September 19, 2015, 08:00:35 AM
 #1

Russia has decided to begin work on a new national digital currency, the Bit-ruble, that will be managed and overseen by the state central banking system, according to late evening reports out of El Mundo in Spain.

http://cointelegraph.com/news/115302/russia-to-create-bitruble-a-state-run-digital-currency-for-2016

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cbeast
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Let's talk governance, lipstick, and pigs.


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September 19, 2015, 08:10:26 AM
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Goxski

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EvilDave
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September 19, 2015, 08:21:47 AM
 #3

Hah...this could be interesting.
As I'm feeling cocky today, could i suggest that BitRuble be built on Nxt technology ?

https://twitter.com/EvilDave_NXT/status/645149889584852992

Nulli Dei, nulli Reges, solum NXT
Love your money: www.nxt.org  www.ardorplatform.org
www.nxter.org  www.nxtfoundation.org
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JOLYY - The future of beauty!


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September 19, 2015, 12:20:22 PM
 #4

[Disclaimer: The following article contains information taken from an unknown source and potentially mistranslated and published by Spanish news outlet El Mundo. Please be advised that the following news have not been officially confirmed by the Central Bank of Russia or any Russian-based sources.]

If this was not a official statement made by the Russian government, I would write it off as a rumor. I will not discount the possibility that they would develop their own digital

currency.... They have shown no interest in Bitcoin. {Possibly because the development is dominated by the Western countries} We will soon see more Ripoff Coins coming

in from the banks and some other countries. The so-called "Private" Blockchains. What a waste of time... Bitcoin has done all the work for them, and it is totally transparent.

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TraderTimm
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September 19, 2015, 03:25:44 PM
 #5

Its funny, but the Banks and potentially other countries are doing what stodgy stuffed-suits often do -- "not built here" syndrome, spurring their own duplication of effort.

So lets say those 6 or so banks that were recently announced bring up their own blockchain with various features. This just presents another attack surface, and if their combined hashpower is trivial to outperform, could result in one of the larger heists in recent history, if conducted properly. The real comedy of errors here is that there is already a very large hashpower resource that the Banks are desperate not to invest directly in.

The truth will become evident after their projects either die from lack of real innovation (wrapping everything in a blockchain doesn't guarantee success, not to mention the resources to maintain it), or they end up getting hash-owned by someone in russia or china, who then abscond with their digitally-signed bonds or whatever before they're any the wiser.

It should be good entertainment, at the very least.

fortitudinem multis - catenum regit omnia
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