Policy maker considers cryptoruble as future of all money circulation

Anatoly Aksakov, the head of the Russian parliament’s Financial Markets panel, had some uplifting news for blockchain fans in Russia. As indicated by Aksakov, there are “no anti-blockchain voices” in the government and he believes that a digital ruble pilot will start in 2021.

During a panel held on October 21 as a major aspect of the Blockchain Life 2021 gathering, the policymaker said that the national bank had just begun meetings on the feasibility of launching ‘cryptoruble’ pilots. He considers it “the future of all our money circulation.”

Neighborhood media reports have brought up the chance of seeing a digital ruble in circulation in late 2021, which could be used on DLT platforms, and businesses could be able to leverage it to track goods and payments.

Aksakov also told the approximate 3,000 people in attendance:

“I know that a large number of serious businesspeople are preparing to issue digital assets. The Central Bank has taken a big step forward by announcing that it is starting consultations on the matter of digital assets.”

The list of banks incorporates state- backed Promsvyazbank, the Credit Bank of Moscow, business bank Zenit, contract bank Dom.RF, and Crimea’s Russian National Commercial Bank.

In any case, Aksakov explained that the Russian government draws a reasonable qualification among blockchain and digital currency. For blockchain, he considers it the “innovation of things to come,”technology of the future,” but for crypto, he commented:

“There are currently two equal positions on cryptocurrencies. The main opposition to cryptocurrencies is coming from the high-risk it poses for financial institutions, ordinary people. This side is trying to foresee all the risks involved and possible reactions to them.”