Deputy min calls digital ruble cash currency of XXII century

MOSCOW, Oct 30 (PRIME) -- The digital ruble is a currency of the XXII century, Russian Deputy Finance Minister Alexei Moiseyev said on Monday at a forum.

“In essence, it is a cash currency of the XXII or other century that will replace cash on the whole. The main thing here is to ensure the use of the digital ruble offline, without access to the Internet. Then the convenience of its use in comparison to cash and cashless turnovers will be certainly at the highest,” Moiseyev said.

The digital ruble is closer to cash than cashless means of payment. “The roles of banks are limited, they open digital wallets kept with the central bank. It means that banks actually only identify clients,” he added.

The deputy minister also said that the world’s community will elaborate single standards of the use of digital currencies of the central banks for international trade.

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