CEX.IO company blog | Central bank digital currency: what you need to know

In October 2020, the Bank of Russia presented the concept of a digital ruble and proposed it for discussion by the marketplayers and the expert community.
Dmitry Volkov, CTO of the international cryptoexchange CEX.IO, shared his opinion on the possible introduction of the digital ruble into circulation with a TASS correspondent.

Dmitry noted that a possible innovationhas its own characteristics. Experts did not see any difficulties in introducing digital currency. The same blockchain technology that can be used to implement a project is already well tested. One of the likely drawbacks, according to Dmitry, is the ignorance of blockchain technology by most people, because of which they may not trust the digital currency.

The speaker highlighted the potential benefits of digitalgovernment currencies mean both higher confidentiality of payments in terms of protecting personal information from third parties, and higher speed of cross-border transfers. In addition, fees for digital currency transfers can be lower or none at all.

Speaking about foreign experience of introducing digitalcurrencies, Dmitry mentioned e-krona, a pilot project in Sweden that started in February 2020. Summing up the conversation, Volkov said that it is possible and necessary to focus on other countries, but above all in economic terms. Indeed, in his opinion, world-famous technologies are already at the heart of state digital currencies.

What do you think about the introduction of the digital ruble?

Original link:
https://tass.ru/ekonomika/10331451