Putin called on the Ministry of Finance and the Central Bank to explain to citizens the difference between non-cash payments and the digital ruble

Russian President Vladimir Putin, during a meeting with the government, called on the Ministry of Finance and the Central Bank to explain in more detail to ordinary people what the difference is between a non-cash form of payment and the digital ruble. RIA Novosti reports this.

“What are some advantages, what is the difference, I think it’s not very clear to the average citizen,” he said.

The digital ruble is a new form of national currency, which should complement the cash and traditional non-cash forms. From September 1, citizens received the right to open digital wallets in 12 largest Russian banks; its use is currently completely voluntary.

One of the main features of the digital ruble is the storage location of the record. If non-cash funds are in the accounts of commercial banks, then the digital ruble as a unique digital code is placed in special accounts on the platform of the Bank of Russia and serves as its direct obligation.