The Central Bank of Russia will begin real trials of the digital ruble in 2023

The Central Bank of Russia will begin testing the digital ruble with real customers and with the use of smart contracts in April 2023, the vice president of the Russian regulator announced today. Olga Skorobogatova,

“We plan to launch a pilot project with real customers and actual operations which will start in April next year,” the executive said during a meeting of Federation of Russian BanksQuoted by Interfax.

according to this skorobogatovaAt the moment «most of the pilot banks participate in test operations».

smart contract

By next April, he explained, there will be trials for the use of smart contracts, computer programs that facilitate, secure, enforce and execute registered agreements between different parties, without control by any agent involved.

The Russian Central Bank had already predicted that from 2024 exchange transactions of digital rubles in foreign currencies would begin, as well as the creation of wallets for customers. non residents,

As announced by the Russian regulator last April, several banks are conducting trials simultaneously BCR Issuance of digital ruble, opening of digital wallet for citizens and transfer between users.

We plan to start a pilot project with actual customers and actual operations from April next year.Olga Skorobogatova BCR . Vice President of

According to the Governor of BCR, elvira nabiullinaThis electronic currency, which is not a cryptocurrency because it is backed by a regulator, should make payments cheaper.

Nabiullina He pointed out that five Russian banks are participating in the trials and seven more will join this phase in the coming months.

The unit is also expected to be able to use digital ruble In international payments, he said.

BCR said in the middle for the first time october Which was studying the possibility of issuing a “digital ruble” to develop a national payment system.

Its idea is to issue digital ruble in parallel with cash and non-cash ruble, and users will be able to manage it through digital wallet and use it with the help of mobile phones or other devices. without connection an internet.

digital ruble It would allow payments for goods and services, disbursements to organizations and the state, fund transfers and payments for transactions with financial instruments and digital financial assets, the Bank of Russia explained at the time.