The Central Bank of Russia and participating commercial banks want to test various types of payments with the digital ruble, the Russian press reported. The plan is to experiment with smart contracts and transactions related to real estate and crypto asset purchases.
Bank of Russia to Launch Smart Contracts on Digital Ruble Platform
Russia’s central bank intends to start implementing smart contracts with the digital ruble next April, the daily Izvestia unveiled this week, quoting the regulator. Until then, the new incarnation of the national fiat will be put to the test in various scenarios, including automated payments and other transactions between individual users and businesses, like real estate acquisitions.
Bank of Russia finalized the prototype platform of its central bank digital currency (CBDC) in