Russian Central Bank to Mark CBDC Tokens


Russian Central Bank to Mark CBDC Tokens

The Russian Central Bank says it may look to “mark” or color-code digital ruble tokens to help it track CBDC transactions.

This could be useful for smart contracts, in which the central bank can set conditions for the buyer and seller of goods and services.

It was briefly mentioned in a white paper by the bank some months ago.

Now the news agency Interfax reports that the bank may also want to mark certain types of smart contracts using digital rubles.

This would allow the issuer of the contract to set the terms for the spending of the ruble.

Such coins could be tracked through their entire chain of passage through the Russian financial system, the agency adds.

The bank appears aware that talk of traceability might not appeal to everybody, and could turn skeptical Russians away from the coin.

Late last week one of the country’s most powerful lawmakers called on the Central Bank to scrap buying caps for foreigners who want to buy digital yuan tokens.

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