The digital ruble is a unique electronic code
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The State Duma immediately adopted the law on the digital ruble at the second and third reading. The document details the basic concepts and provisions that allow us to begin to introduce said currency in our country. Most of these provisions are expected to take effect on August 1, 2023.
But do not rush to wait how you will open a digital wallet, or grab your head, what another new electronic attack will fall on us. After the law comes into force, the mechanism for using digital rubles has not yet been worked out. At first, this will be done on a pilot basis. What and how will it be tested, painted the Central Bank in 2020 in an advisory report for public debates. More than a dozen of the largest Russian banks will participate in the pilot program, as planned. The tests will be carried out in quite real customer specific operations (of course, if they wish) within the country and with various EAEU countries. As follows from the law approved by the State Duma, until December 31, 2024, the circle of users of the digital national currency platform, the list of transactions and their limit amounts will be agreed by the Central Bank with Rosfinmonitoring.
However, in order to make at least pilot projects with the digital ruble possible, amendments to the legislation were required, prescribing what it is in general, how to open accounts on it, etc. These are the moments that are contained in the approved law. by the State Duma.
Moreover, it now becomes clear that sooner or later the digital ruble will continue to enter our lives. What should ordinary people know about him?
1. A digital ruble is a unique electronic code (token). This is their similarity to paper ruble banknotes, each of which has a series and a number.
2. This is not a cryptocurrency. Cryptocurrencies do not have a single official body that issues them. The digital ruble will have it: the approved law assigns this role to the Central Bank. This is the same official Russian currency as the “ordinary” rubles. And just like the regular ruble, the digital ruble will be backed by our gold and foreign exchange reserves.
3. Digital rubles will be stored in digital wallets on a special platform, which will be operated by the Central Bank. This is the difference between digital rubles and non-cash money, which we now use with all our might and which “lie” on our account in a particular bank. The law establishes the responsibility of the Central Bank for the security of digital rubles and the correct accounting of transactions with them.
4. It is alleged that all three forms of the ruble (paper, non-cash and digital) will be transferred freely and without any commission for citizens to transfer to each other. How now we can put cash notes in a bank account and pay with this money that is no longer cash using a bank card.
But once again we remind you that so far all this is perspective. The law still needs to be approved by the Federation Council and signed by the President. If after that everything goes well with the pilot projects, then, as stated in the Central Bank, maybe in two or three years all Russians will be able to get a digital wallet. So that? For now, this is a rhetorical question. Especially for those who are not crazy about bitcoins and other things like that. But remember that not so long ago it was not clear why we need bank cards and non-cash money. After all, there is such a pleasantly whispering cash in your pocket, understandable and tangible. And how often do you pay with these paper bills now?
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