In addition to banks, digital ruble transactions also have a big advantage f

Discuss hot database and enhance operational efficiency together.
Post Reply
tanjimajuha20
Posts: 470
Joined: Thu Jan 02, 2025 7:24 am

In addition to banks, digital ruble transactions also have a big advantage f

Post by tanjimajuha20 »

First Deputy Head of the Department of Transport and Development of Road and Transport Infrastructure of Moscow Roman Latypov explained how the digital ruble will be used in the Moscow metro: "The metro is a very large cross-section of clients. Some still buy tickets at the box office. But there are also those who israel whatsapp resource try all the new things, for example, payment by face. We are launching the digital ruble project as a pilot in a closed focus group. Its members will be able to purchase a Troika card in unique designs or with a balance that can be used to make trips. In this case, we act as a client organization. When we understand that everything works quickly and well, the focus group members like it, we will expand the pilot to other types of transport and involve passengers in it."

First Deputy Chairman of the Board of PJSC Sovcombank Sergey Khotsimsky noted the disadvantages of introducing the digital ruble for banks: "The big challenge is that, along with cash and non-cash money, a third form appears that does not create liabilities for the banking system. Many bankers are worried about this. But we look at the situation a little differently. The world is changing, and certain needs arise that are an international requirement. We cannot but serve them. Of course, non-cash money is more profitable for us. And of course, we will compete with the digital ruble. Therefore, we want a person's main account to be a bank account. Now the position of banks in this situation is the same, there is no advantage for larger or state-owned banks. The advantage will be given to those who are more adaptive, faster and who offer interesting forms of working with the digital ruble and smart contracts. It is good that there is competition, it always turns out to create the most interesting things. This is a great challenge. I will not say that there is no problem for banks. Of course, we won’t just give away a business with a non-cash ruble, but we will provide all services with a digital ruble to clients.”

or citizens in the form of commission-free transfers. Cash can first be deposited into a non-cash account of any of the 13 banks participating in the pilot, and then transferred to the Bank of Russia platform and exchanged for digital rubles. There is no commission for transactions, all transfers for citizens are one to one.

"When you are going to withdraw money from a card, you go mainly to the ATM network of your bank due to the commission and everything else. And now, in order to turn the digital ruble into cash and withdraw it from an ATM, you can come to any bank. And in this case, the commission policy will be uniform for you. That is, you stop depending on the infrastructure of one bank. For a person, this is precisely the convenience in which you do not need to look for a specific ATM, you can just go to the nearest one," explained Vadim Kulik.

A specialist in systemic digital transformation, Alexander Samarin, assessed the situation with the introduction of digital currency in Russia and compared it with examples from other countries. "As a rule, commercial banks, although not critically, lose from the introduction of digital currency. This happens not only in Russia, but all over the world. For example, in our country, the Central Bank of the Russian Federation is not only the operator, but also the architect, developer, and regulator of digital currency. This is an excellent example of complete mockery of the protection of consumer interests, primarily citizens and businesses. However, in some countries - for example, in China and India - commercial banks can exchange existing money for digital and back. We can say that their digital currency is a state stablecoin," explained Alexander Samarin.

"It is clear that now we are only living at the beginning of the era of competition between digital money and payments. It is also obvious that each currency - fiat, digital, cryptocurrency, stablecoin - is based on trust in issuers of assets and instruments. However, in the modern world, the best trust is zero. Therefore, we are waiting for digital money with intrinsic value based on a digitized highly liquid commodity to appear - this money can be trusted! Domestic and cross-border payments with such money will be algorithmic, commission-free, instantaneous and with immediate legal finality of payments. Until this happens, everyone - citizens, businesses, commercial banks, etc. will suffer with palliative (temporary) solutions," Alexander Samarin concluded.
Post Reply