Russia; The digital ruble will be launched in 2023

[int03h]

Using cryptocurrencies to overcome barriers in the financial space is a smart policy. Perhaps they are focusing on China when creating cryptocurrencies for their country.
Digital Rup will have more liquidity and get rid of the influence of strong currencies like USD, EURO.

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[fullhdpixel]

Senior leaders from Russia's central bank presented the main details of the supply of the country's national digital currency (CBDC) during a virtual press conference on Thursday. According to Alexei Zabotkin, Deputy Governor, and Olga Skorobogatova, First Deputy Governor of the Central Bank of Russia, according to the current schedule, the digital ruble will probably be launched by 2023. It was previously reported that the bank intends to implement the digital ruble infrastructure by the end of 2021 and test prototypes of the currency by 2022. It now looks like the Central Bank of Russia's digital currency program will be realized in the next two years.

Don’t get why they are all rushing to create digital currencies since they are all the same, except that maybe they wouldn’t have to be printing money if the whole people decides to adopt the digital money, but when it comes to value I know very well these two are going to have the same, or is the CBDC being created as something totally different and having different value from the fiat we use?

My country is not talking about any digital so I have not really seen how this is going to be like, so I am saying based on what I have seen on the net.And by the way is anyone aware of how the Digital Yuan has been going in terms of adoption, are people really adopting this digital Yuan in China? Or they still choose to be using the normal currency they have been using before now?

[Husires]

Digital cash (CBDC) will be an option for many countries and cash still maintains its strength, as many places in my country still accept cash at a rate that varies between 20% to 80%, and I do not think that governments are ready for rapid change from these ratios to 100% digital without cash within less than 3 Years.

If this adoption continuous we may find that some countries are hedge against inflation by purchasing more Bitcoin.

[Gozie51]

Ruble in digital form could be big leap for the Russia but don’t seem any relevance with the crypto space yet. I mean it will be centralised currency only and might just use blockchain as the backbone. So it may or may not affect crypto space directly.

I do also believe it won't have any effect on cryptocurrency. It wi be of no global significance but it may create some hypd got Rubi and making it a little popular. Rubi is not one of the popular fiat monies so it might just create a little of such as a fiat supported by cryptocurrency. It wk have government control and that isn't what crypto represent.

[el kaka22]

I think Russia could be a good or bad country from wherever you are looking at it but the fact is that they have more progressive than most other nations regarding crypto is a marvelous shock to me, in a good way of course. I mean we all know what kind of nation they are, they just recently banned gay marriage and relationships for example, so in some financial stuff they are very very progressive and while in some social stuff they are conservative which surprises me sometimes.

This digital ruble if done right could put them in contention for being the hub of crypto world, and that would mean a lot of money as well, to live in a nation where you can use crypto currencies however you want and easily turn it into digital ruble and spend it anywhere you go would make this nation a wonderful place for all the crypto currency lovers in the world.

[pixie85]

Using cryptocurrencies to overcome barriers in the financial space is a smart policy. Perhaps they are focusing on China when creating cryptocurrencies for their country.
Digital Rup will have more liquidity and get rid of the influence of strong currencies like USD, EURO.

It's funny to watch them fight other cryptocurrencies to get rid of competition.

Centralized cryptos go against the idea of cryptocurrency. They go against the values of Bitcoin.
Digital ruble is not going to be a real cryptocurrency. It's going to be a wolf in sheep's clothing pretty much like Libra and it's going to fail like Libra, Petro and all other government and corpo cryptocurrencies.

Makes me wonder what value will bitcoin have in 2023. How many rubles will we be able to buy for 1 bitcoin

[Febo]

Russia; The digital ruble will be launched in 2023

So in the prime time of next Bitcoin cycle bear market. All newspapers will declare Bitcoin dead at that time, but Russians will issue their own Bitcoin. Bad timing Vadimir, very bad timing. Should have stay at buying gold.

[electronicash]

Russia; The digital ruble will be launched in 2023

So in the prime time of next Bitcoin cycle bear market. All newspapers will declare Bitcoin dead at that time, but Russians will issue their own Bitcoin. Bad timing Vadimir, very bad timing. Should have stay at buying gold.

when the bear market comes, people will start converting their coins to stablecoin and rubble or reminbi digital cash will be perfect.

I think Russia could be a good or bad country from wherever you are looking at it but the fact is that they have more progressive than most other nations regarding crypto is a marvelous shock to me, in a good way of course. I mean we all know what kind of nation they are, they just recently banned gay marriage and relationships for example, so in some financial stuff they are very very progressive and while in some social stuff they are conservative which surprises me sometimes.

This digital ruble if done right could put them in contention for being the hub of crypto world, and that would mean a lot of money as well, to live in a nation where you can use crypto currencies however you want and easily turn it into digital ruble and spend it anywhere you go would make this nation a wonderful place for all the crypto currency lovers in the world.

if they can allow crypto to still coexist when their CBDC is implemented in their society, then that's good.
the government will have all the control over their people thru this CBDC but it's what governments do, they can't allow anarchy. there is no good or bad country but their government will do what they have to do for their race to survive. lucky are the Russians their government can even produce their own covid vaccine.

[Sithara007]

if they can allow crypto to still coexist when their CBDC is implemented in their society, then that's good.
the government will have all the control over their people thru this CBDC but it's what governments do, they can't allow anarchy. there is no good or bad country but their government will do what they have to do for their race to survive. lucky are the Russians their government can even produce their own covid vaccine.

The Russian parliament recently introduced a bill, which makes Bitcoin a fully legal and regulated asset. So I don't think that they want to discourage the usage of cryptocurrency. The approach taken by the Russian government is in stark contrast to third world countries such as India and Bangladesh, which have tried to ban cryptocurrency. That makes the Russian CBDC different from the rest. China was the first country to come up with a CBDC. But even there, they have a lot of restrictions on cryptocurrency.