Nobody thought Russia would be a leader when it came to introducing CBDCs and nobody seems to be paying attention. From Tyler Durden at zerohedge.com:
The digital ruble is a CBDC project the Bank of Russia has been working on since 2020, when the Bank of Russia published its first analytical report on the topic.
Later, the regulator updated the report including the feedback from Russian banks and other financial market participants.
The regulator announced it started piloting the system with a number of Russian banks in February 2022, shortly before the country started a war in Ukraine.
As CoinDesk reports, the project initially was viewed by the Bank of Russia both as a tool against sanctions and a way to control how the government is spending money allocated for social projects.
And now, the wait is over!
The Bank of Russia’s centralized, programmable digital token officially received the State Duma’s blessing on Tuesday.
But, as Riley Waggaman reports via Off-Guardian.org, all is not what it seems with the glad-handing we are seeing
Safe and convenient concepts such as “digital ruble platform”, “digital ruble platform participant”, as well as “digital ruble platform user” and “digital account (wallet)”, now have concrete definitions provided by pages and pages of legal mumbo-jumbo.
Getting rid of cash is a Globalist dream come true! It makes all of us slaves.