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Golovchenko unveils plans for Belarusian digital ruble introduction

MINSK, 9 September (BelTA) – Chairman of the Board of Belarus’ National Bank Roman Golovchenko outlined plans for the introduction of a Belarusian digital ruble at a meeting hosted by the Belarusian president, BelTA has learned.

The head of the National Bank emphasized the importance of developing infrastructure and instruments of the financial sector. The key objectives are achieving technological sovereignty, enhancing convenience, expanding the range of financial services, and ensuring transaction security and fraud prevention.

“By next year, all the regulatory framework and software for the full-scale implementation [of the Belarusian digital ruble] should be ready. At first, its purpose will follow world experience: monitoring the use of budgetary funds. That is, a kind of ‘coloring’ of budget money to prevent misuse,” Roman Golovchenko stated.

According to him, in the future, the Belarusian digital ruble will enable the use of advanced payment guarantee technologies, primarily smart contracts.

As previously reported, a draft law on the digital Belarusian ruble has already been developed in Belarus. 

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