The Digital Ruble: A wallet without myths, or the Specifics of “state-owned crypto"

Two persistent myths have emerged in the media surrounding the digital ruble (DR), which literally migrate from article to article. The first is that offline operation will easily make the DR a convenient substitut for cash. The second is that cold wallets (CWs) will allow DRs to be stored with the same degree of autonomy as crypto assets. The regulator is reluctant to comment on illusions, but the platform's roadmap and architecture speak for themselves, says Timur Aitov, PhD, member of the RF CCI Council on Financial Market and Investments, Chairman of the Financial Market Security Commission, and head of the Financial Technologies Digitalization Competence Center. Our external experts, practitioners with experience in implementing large-scale payment projects, including nation-wide ones, comment on his position.

Two persistent myths have emerged in the media surrounding the digital ruble (DR), which literally migrate from article to article. The first is that offline operation will easily make the DR a convenient substitut for cash. The second is that cold wallets (CWs) will allow DRs to be stored with the same degree of autonomy as crypto assets. The regulator is reluctant to comment on illusions, but the platform's roadmap and architecture speak for themselves, says Timur Aitov, PhD, member of the RF CCI Council on Financial Market and Investments, Chairman of the Financial Market Security Commission, and head of the Financial Technologies Digitalization Competence Center. Our external experts, practitioners with experience in implementing large-scale payment projects, including nation-wide ones, comment on his position.