They shoot their leg with legislation that "digital rouble", as they name it, should run on infrastructure build on entirely Russian computers. However, there is no capacity to produce enough Elbrus or Baikal CPUs, not even talking about domestic memory, SSDs and other stuff. So, it is more wishful thinking, however it could finally give big push to the ressurection of semiconductor industry here, especially if funds will be allocated by CB directly.
Also, details from whitepapers I found interesting:
"digital rouble" must fundamentally prevent any usury schemes with it. It can't have interest of any kind on it, and can't be used for loans of any kind.
"digital rouble" wallet can't be tied to any bank, but all banks must support all transactions and operations with it, even if wallet owner is not a client of that bank.
"digital rouble" transaction cost should be fixed and should not depend on amount.
"digital rouble" must have offline mode and cold wallet, so transactions could be done without Internet or any other network connection.
Now, that's getting really weird. :) It will be probably weirdest CBDC in the world with such properties. And with potential to destroy conventional banking system.
I estimate if it finally will be rolled out sometime, it will be used mostly by businesses for doing transactions to avoid banking fees. Especially if it will be allowed to open businesses without bank account only with "digital rouble" wallet instead.
They shoot their leg with legislation that "digital rouble", as they name it, should run on infrastructure build on entirely Russian computers. However, there is no capacity to produce enough Elbrus or Baikal CPUs, not even talking about domestic memory, SSDs and other stuff. So, it is more wishful thinking, however it could finally give big push to the ressurection of semiconductor industry here, especially if funds will be allocated by CB directly.
Also, details from whitepapers I found interesting:
Now, that's getting really weird. :) It will be probably weirdest CBDC in the world with such properties. And with potential to destroy conventional banking system.
I estimate if it finally will be rolled out sometime, it will be used mostly by businesses for doing transactions to avoid banking fees. Especially if it will be allowed to open businesses without bank account only with "digital rouble" wallet instead.
They have collaborated with Europe and China on CBDC, and besides, CBDC is not nearly as complex, encrypted or "blockchained" as advertised.