© narodnayakartaThe winning 'Mir' banking card design, featuring Mir attached to a wing and a stylized image of a globe.
The Bank of Russia announced on Thursday it plans to have a digital ruble ready by next year and capable of making international payments. It also aims to expand the number of countries that accept Russian Mir banking cards.
© RIA Novosti / Alexey NikolskyVladimir Putin and Elvira Nabiullina
The concept of a national digital currency was unveiled by the Bank of Russia in late 2020. The new form of money is expected to coexist with cash and non-cash rubles. Unlike virtual currencies such as bitcoin, the digital ruble is projected to pose minimal risk as it will be issued by the state monetary regulator and backed by traditional money.
The introduction of the digital ruble will lead to cheaper settlements, and the digital currency itself will be used, among other things, in international settlements.
The BRICS will soon expand as more and more countries will leave the dollar, the euro, the pound, and move towards the ruble, the yuan, and gold. A gold backed system is much better than a system formed by faith alone. The US has squandered that faith, until there is faith no more.
As the Eastern countries move into prosperity, the west will decline into poverty while its corrupt gov't pump out increasing amounts of propaganda to tell you that you have never had it so good, or things ain't so bad, eat less, take less showers, tighten one's belt, etc, ad nauseam.