Digitalization at every step. Bank cards come to replace bank cards, payments are transferred to the plane of non-cash payments, and here are already the first novel currency introduction calls. I’ll tell you a little, what it is, and I suppose the possible threats that you have to face a simple one.

In general, the appearance of a digital ruble was spoken at the end of 2020, when the Bank of Russia issued a consulting report for public discussions with participants in financial and payment markets. In particular, in it, the Central Bank explained the need to introduce a digital ruble with the following reasons:

By December 2021, the Bank of Russia plans to create a prototype platform of the digital ruble, and it will earn no earlier than 2023.

In January 2022, the Central Bank expects to develop a draft amendments to legislation for circulation of digital rubles.

In the first quarter of 2022, the regulator will launch the prototype test of the digital ruble platform, which will last all year.

At the same time, the Bank of Russia reports that it is not planned to completely abandon cash, and the digital and «paper» currency will be used everywhere.

What is the difference between the digital ruble from non-cash money or the same Bitcoin? As the Bank itself explains, the new currency will exist in the form of a digital code and stored on e-wallets in the Bank of Russia — unlike non-cash money, which lie on accounts in commercial banks. What does this give the user? At a minimum, the user is left by the Currency Holder, and not a commercial bank. In other words, you can dispose of digital ruble unhindered while there is their issuer — the Bank of Russia. You will not have problems with translations or output of money on deposits and settlement accounts that are inevitable in bankruptcy (license revocation) of any commercial bank. It seems to be a significant plus?! True, only the Central Bank itself for balances in your electronic wallet interest is not going to accrue and wants to impose these functions on the same commercial banks, so there is a reverse process — a digital currency turns into non-cash …

So, if the digital ruble is a digital code, then what is different from «cryptocurrency»? I think technically nothing but! Digital money, such as Bitcoin (BTC), are not supported, are not binding to physical reserves, such as gold, and can change the cost due to various factors, such as: the level of demand and suggestions, costs for mining. While the digital ruble is the obligation of the Central Bank. This is a fate currency, that is, the currency, the stability of the functioning of which is provided by the state in the person of the Central Bank.

The Central Bank promises to make payments and transfers are easier, faster and safer directly through the bank’s mobile application. Also, digital rubles can be used to pay for goods and services, holding payments to organizations and the state, pay for transactions with financial instruments and financial assets.

But most importantly, in contrast to non-cash money, the digital ruble will allow calculations in offline mode. For operations in offline, without access to communication networks, users will be able to pre-reserve a certain amount of digital rubles in their electronic wallet, just as they take cash with them, when they go to the places where payment cards may not be accepted.

Now, when the technology and platform of the digital ruble are fully clear, it is too early to speak about any threats of information security. At the same time, I have a number of fears of using a digital ruble:

Voluntarily forcibly.

Money labeled.

«Almost» cheaper.


Of course, there is no detailed description of the technology of the digital ruble, I did not make any specific conclusions, but even now at this stage I have many questions. Do you have? Share your opinion in the comments.

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