Bank of Russia Board of Directors Approves Digital Ruble Logo

According to the Bank of Russia, the digital ruble, now in circulation, will be a new form of Russian national currency. On August 3, the bank’s board of directors announced approval of the digital ruble logo.

The logo of the digital ruble will be integrated into mobile banking apps through which users will be able to open their digital wallets and conduct transactions with digital rubles. …

The digital ruble is the third form of the national currency that will be issued in addition to cash and non-cash rubles. Digital rubles will become another means of payments and money transfers. Individuals and companies will be able to choose on their own which of the three currency forms they prefer in particular cases.
—Bank of Russia

Digital currency: A central bank digital currency (cbdc) is virtual money backed and issued by a central bank. According to the Atlantic Council, “130 countries, representing 98 percent of global [gross domestic product], are exploring a cbdc.”

Our world is changing rapidly. More central banks are expected to begin issuing digital forms of a national currency in the near future. How long before physical cash is replaced? Could this be a means to restrict your ability to buy or sell?

For more on the ways that a central bank digital currency could be used to target America’s financial dominance and gain tighter control over individual’s spending and lives, read “Will Blockchain Block Out America?”