Russia to issue state-backed CryptoRuble digital currency

Russia issuing ‘CryptoRuble’ — Coin Telegraph — “Russian President Vladimir Putin has officially stated that Russia will issue its own ‘CryptoRuble’ at a closed door meeting in Moscow, according to local news sources. The news broke through Minister of Communications Nikolay Nikiforov. According to the official, the state issued cryptocurrency cannot be mined and will be issued and controlled and maintained only by the authorities.”


Bank of England examines the technical requirements of central bank-issued digital currencies

Beyond blockchain: What are the technology requirements for a central bank digital currency? — Bank Underground — “What type of technology would you use if you wanted to create a central bank digital currency (CBDC) ie a national currency denominated, electronic, liability of the central bank? It is often assumed that blockchain, or distributed ledger technology (DLT), would be required; but although this could have some benefits (as well as challenges), it may not be necessary.”


BIS reports on the potential of central bank-issued cryptocurrencies

Central bank cryptocurrencies — Bank for International Settlements — “New cryptocurrencies are emerging almost daily, and many interested parties are wondering whether central banks should issue their own versions. But what might central bank cryptocurrencies (CBCCs) look like and would they be useful? This feature provides a taxonomy of money that identifies two types of CBCC — retail and wholesale — and differentiates them from other forms of central bank money such as cash and reserves. It discusses the different characteristics of CBCCs and compares them with existing payment options.”


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