The Central Bank of Russia has announced the start of pilot tests with the digital ruble for execution at the end of 2021, as reported by the entity’s deputy governor, Alexey Zabotkin to local Prime news agency.

The senior executive affirmed that the strategy is to complete a prototype of the digital ruble by the end of 2021, which will not admit “real transactions”, but will serve as a pilot plan to build the ecosystem.

In addition, Zabotkin reported: “Based on this prototype, including refinement, we will begin to implement test rounds next year”. His statements reaffirm Russia’s intention to create a CBDC that goes into circulation in 2022.

At the end of February, the first deputy governor of the Bank of Russia, Olga Skorobogatova, announced that the bank is still working on the development of a concept on the chosen model of the digital ruble, assuring that the bank has not ruled out the possibility of charging commissions for transfers between digital ruble wallets.

All these plans were announced on the occasion of an online event organized by the New Moscow School of Economics.

K. Villarroel

Source: cointelegraph

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