• About
  • Contact Us
Tuesday, August 9, 2022
Cryptos Newz
  • Home
  • News

    Breaking: Boeing Is Said Close To Issuing 737 Max Warning After Crash

    BREAKING: 189 people on downed Lion Air flight, ministry says

    Crashed Lion Air Jet Had Faulty Speed Readings on Last 4 Flights

    Police Officers From The K9 Unit During A Operation To Find Victims

    People Tiring of Demonstration, Except Protesters in Jakarta

    Limited underwater visibility hampers search for flight JT610

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • Write For Us
  • Press Release
  • Web Stories
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us
Cryptos Newz
  • Home
  • News

    Breaking: Boeing Is Said Close To Issuing 737 Max Warning After Crash

    BREAKING: 189 people on downed Lion Air flight, ministry says

    Crashed Lion Air Jet Had Faulty Speed Readings on Last 4 Flights

    Police Officers From The K9 Unit During A Operation To Find Victims

    People Tiring of Demonstration, Except Protesters in Jakarta

    Limited underwater visibility hampers search for flight JT610

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • Write For Us
  • Press Release
  • Web Stories
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us
No Result
View All Result
Cryptos Newz
No Result
View All Result
Home Bitcoin News

Russia to Trial Digital Ruble Settlements for Real Estate Deals – Bitcoin News

Crptoz by Crptoz
June 23, 2022
in Bitcoin News
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Cleanspark Acquires Plug-in-Ready Bitcoin Mining Facility With up to 86 MW of Capacity – Mining Bitcoin News

The Stablecoin Monster: CBDCs Are A Red Herring


The Russian press reported that the Central Bank of Russia and participating commercial banks are looking to test different types of payments with the digital ruble. The plan is to experiment with smart contracts and transactions related to real estate and crypto asset purchases.

Bank of Russia will launch smart contract on digital ruble platform

Russia’s central bank intends to start implementing smart contracts with the digital ruble next April, the daily Izvestia unveiled this week, citing the regulator. Until then, the new incarnation of national fiat will be put to the test in a variety of scenarios, including automated payments and other transactions between individual users and businesses, such as real estate acquisitions.

The Bank of Russia finalized the prototype platform for its central bank digital currency (CBDC) in December 2021. In January of this year, a dozen Russian banks joined the pilot project. In its first phase, participants are issuing digital rubles, setting up wallets for banks and citizens, and making transfers between them. Smart contracts will be introduced during the second phase of the pilot.

Promsvyazbank (PSB) explained that smart contracts facilitate the execution of contract terms without involving a third party as a guarantor. Money is kept in a smart contract wallet on the Digital Ruble platform and sent to the seller’s wallet as soon as the property rights are transferred. Rosbank said the technology could be employed for targeted financing of the purchase of real estate by a lender.

The digital ruble smart contract will allow large businesses to conduct complex transactions, detailed for the article Vneshtorgbank (VTB). The bank, which is also participating in the pilot, told Izvestia that it plans to begin testing digital financial assets (DFA) purchases with the digital ruble in September.

DFA is the current legal term describing cryptocurrencies and tokens in Russia. A new bill “On Digital Currency”, designed to expand the regulatory framework for crypto assets, will be reviewed this fall by Russian lawmakers. Moscow experts say the financial and technical sanctions imposed on Russia over the war in Ukraine could also accelerate the digital ruble project.

Tags in this story
acquisition, cbdc, crypto, cryptocurrency, cryptocurrency, deals, dfa, digital asset, digital currency, digital ruble, payment, purchase, real estate, regulation, regulation, sanctions, russia, russian, sanctions, smart contract,

Do you expect Russia to accelerate the project program for the digital ruble currency? Tell us in the comments section below.

lubomir tsev

Lubomir Tsev is a journalist from tech-savvy Eastern Europe who likes Hitchens’ quote: “Being a writer is what I am rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

image credit: Shutterstock, Pixabay, WikiCommons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation or recommendation or endorsement of an offer to buy or sell any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the Company nor the author is responsible, directly or indirectly, for any damage or loss alleged to be caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.

more popular news

in case you missed it


Related Posts

Bitcoin News

Cleanspark Acquires Plug-in-Ready Bitcoin Mining Facility With up to 86 MW of Capacity – Mining Bitcoin News

August 9, 2022
Bitcoin News

The Stablecoin Monster: CBDCs Are A Red Herring

August 9, 2022
Bitcoin News

Buy a Dream House With Bitcoin In the Idyllic Caribbean Valley of Puerto Rico – Sponsored Bitcoin News

August 9, 2022
Bitcoin News

Ethereum DeFi Exchange Curve Suffers Frontend Attack: Report – Decrypt

August 9, 2022
Bitcoin News

Ethereum DeFi Exchange Curve Suffers Frontend Hack – Decrypt

August 9, 2022
Bitcoin News

Magic Eden Wants to Build an ApeCoin NFT Marketplace Just for Bored Apes—Here’s Why – Decrypt

August 9, 2022
Next Post

This is Why Bitcoin (BTC) Price Will See More Downside in the Coming Days!

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Man Who Broke into Terra Founder’s House Was Crypto Investor Who Lost 3 Billion Won

May 16, 2022

Dock Launches Ambassador Program – Press release Bitcoin News

January 17, 2022

When SHIB? Robinhood CBO States They Seek Compliant Ways to Increase Crypto Offering

February 9, 2022

Why You Should Stack Sats To Celebrate Father’s Day

June 19, 2022

Ted Cruz: Texas Should Be “Ground Zero” for Crypto Industry

March 3, 2022

EDITOR'S PICK

Best Bottoms Are Around The Corner ! Tarders, Here’s What You Should Look for

May 21, 2022

Mercado Pago Extends Its Cryptocurrency Services in Brazil – Bitcoin News

June 29, 2022

Ripple Price Falls Below $0.43 As Bears Take Control Of The Market

May 21, 2022

Goldman Sachs Aims to Raise $2B to Buy Celsius’ Crypto Assets at a Discount: Reports

June 25, 2022

About

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow us

Categories

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Cryptocurrency News
  • Ethereum News
  • How To Buy Crypto
  • News
  • Uncategorized

Recent Posts

  • Cleanspark Acquires Plug-in-Ready Bitcoin Mining Facility With up to 86 MW of Capacity – Mining Bitcoin News
  • The Stablecoin Monster: CBDCs Are A Red Herring
  • Billionaire Mike Novogratz Says Bitcoin At $30,000 Is Unlikely
  • Buy a Dream House With Bitcoin In the Idyllic Caribbean Valley of Puerto Rico – Sponsored Bitcoin News
  • Home
  • News
  • Write For Us
  • Press Release
  • Web Stories
  • Legal Information

© 2022 CryptosNewz - Premium Cryptocurrency News Blog CryptosNewz.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • Write For Us
  • Press Release
  • Web Stories
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us

© 2022 CryptosNewz - Premium Cryptocurrency News Blog CryptosNewz.