The stablecoins, are currencies anchored to another currency or asset; with the aim of avoiding the extreme volatility that have criptos. The BCR or the Central Bank of Russia has recently been investigating about how to properly use these coins to extract their maximum benefit.
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Central bank of Russia seeks to evaluate the stablecoins
The senior director of the Central Bank of Russia, Elvira Nabiullina, made a series of comments regarding the topic, according to the report published by Interfax in which he speaks about the possibility of evaluating stablecoins to start using them in the future. On the other hand, the chief of the BCR, Elvira, commented that they want to explore the potential of the stablecoins anchored to other assets; because they see greater utility in these, because they do not have a margin of volatility as high. To be more clear, the director of BCR said the following words: We are testing stablecoins in our ‘test environment’ regulatory. We see companies willing to issue tokens associated with certain real assets, said Nabiullina. However, she also clarified that this does not mean that they can see stablecoins as a payment method efficient for the future, therefore, do not assume that will be a substitute for the fiat money. In conclusion, the director of the BCR wanted to say that, although they are looking forward to explore the potential of stable currencies anchored to various assets, yet it is not believed that these may be changing in its entirety the world or at least in the financial aspect.
Central bank of Russia possibly use the CBDC in the future
Although there has been talking about the posture anti-Bitcoin in Russia and of the stablecoins, the head of BCR also had mentioned about a possibility of launching a CBDC; also known as digital currencies issued by central banks. The information was published by a communication portal for Russian, which has a certain support of the government of that country. In the Russian website they talk about that, the director of BCR said, although it is possible that they can use the CBDC in Russia, the main thing is to study well this technology as well as the stablecoins before deploying it, because, it is talking about a currency that could be substitute for the national currency. Therefore, come extremely important to fully understand the technology, its reliability and continuity. On the other hand, also commented about that, it is necessary to educate the society before implementing a CBDC and the stablecoins. This is due to the fact that, possibly not all of the inhabitants of Russia are ready to start using the digital currencies. In addition, it also talks about the possibility of creating a criptomoneda that will be anchored to gold. This will be known as the Russian ruble, which could serve not only for the country, but to pay for trade agreements. The director made a lot of comments in regards to the topic, because, just as there are some countries that have a greater development and do not require cash, there are also some that have a great demand for the same. Therefore, there are many aspects that need to be evaluated before making such a change.
Lately cryptocurrencies are not so popular in Russia
Although the theme of the stablecoins and the creation of a CBDC have caused quite a stir in the news, it is important to comment that, the people of Russia have shown a great lack of concern for the cryptocurrencies from 2 years ago approximately. This was also mentioned by the director of the BCR, who said that, some people have been shown to be against the private money. Therefore, we can say that there are people derogatory to the digital currencies. By this we mean, that these people believe that the money should be managed by institutions of the government and that cannot be managed with autonomy; at least this was what I was given to understand one of the officials who was in the area. In conclusion, although there is a lot of controversy on the subject, the director of the BCR, said they will study the evolution of the stablecoins from very close. With the aim of knowing what are their results and how is your development time, stability, and similar aspects. The following two tabs change content below. I am a young man from Venezuela 18 years, lover of technology, innovation, and economic events that govern the world. One of my passions are cryptocurrencies.