The Central Bank of Russia piloted Russian CBDC testing

The Central Bank of Russia pilotes a testing program in the Tatarstan region to test smart contracts for digital laundry.

The Central Bank of Russia approached the Patar region with a proposal to help the digital lingerie pilot, with a specific focus on testing smart contracts, as originally reported Business Gazeta. In particular, the goal is to experiment with the conditional wear of funds intended for certain purposes, which will be performed through the Bank examination platform.

The Tatarstan Ministry of Finance agreed with the CBR proposal and has already established a working group that will monitor testing digital laundry transactions in the region.

After testing, Tatarstan’s Ministry of Finance and CBR will define the conditions for the target use of hypothetical budget subsidies. These requirements will then be formalized into a smart contract. The experiment was sliced ​​to conclude in the third quarter of 2025. Years.

While CBR had Originally planned The expulsion of digital laundry, starting from 1. July 2025, these plans were postponed, as announced by CBR Head Elvir Nabiullina. The new launch date will be posted later.

According to Nabiulini, a large transition will only take place after thorough examination and consultation with banks about the most economically more sustainable models for clients. However, the pilot program progresses successfully so far.

To put this development in context, the Law on Launch digital ruin in Russia He effectively entered in August 2023. year, with the first phase of testing, starting in 15. August. However, the Central Bank of Russia has delayed its national faint, sparking concern that the initiative can be completely abolished.

Launching the digital laundry of Central Bank Russia is a growing trend in which national banks are investigating and testing the digital currencies of the Central Bank. 2024 September, Reuters export that 134 countries explored the launch of national CBDCs.

Several countries have already launched their CBDC testing, including China, Korea, Papua New Guinea, United Kingdomto appoint a few. The European Central Bank also launches its many years of testing Digital euro. In addition, the Bahamas, Jamaica and Nigeria They have already launched their CBDCs, becoming pioneers in digitizing national currencies FIAT.