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Russia: Toward a Blockchain-Based CryptoRuble?
[Rusia: ¿Hacia un CriptoRublo basado en blockchain?]

Author

Listed:
  • Assen Slim

    (CESSMA UMRD 245 - Centre d'études en sciences sociales sur les mondes africains, américains et asiatiques - IRD - Institut de Recherche pour le Développement - Inalco - Institut National des Langues et Civilisations Orientales - UPCité - Université Paris Cité, CREE EA 4513 - Centre de recherches Europes-Eurasie - Inalco - Institut National des Langues et Civilisations Orientales)

Abstract

The article discusses the debates and initiatives surrounding the creation of a CryptoRuble in Russia, a central bank digital currency (CBDC). Since 2016, Russia has shown increasing interest in this project despite initial skepticism towards cryptocurrencies. The idea gained momentum through BRICS summit discussions on a joint CBDC, aiming to reduce reliance on the dollar and bypass U.S. economic sanctions. The CryptoRuble would offer a blockchain-based payment system, promising speed, security, and transparency. However, the Bank of Russia (CBR) remains divided on its implementation, citing concerns about money laundering and terrorism financing. The project could also stimulate the Russian economy while curbing the use of traditional cryptocurrencies.

Suggested Citation

  • Assen Slim, 2020. "Russia: Toward a Blockchain-Based CryptoRuble? [Rusia: ¿Hacia un CriptoRublo basado en blockchain?]," Post-Print hal-04854685, HAL.
    • Handle: RePEc:hal:journl:hal-04854685
    Note: View the original document on HAL open archive server: https://hal.science/hal-04854685v1
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