The Bank of Russia is studying the possibility of launching its own digital currency. This was stated by the head of the Central Bank Elvira Nabiullina at the conference “SKOLKOVO”.

However, according to her, this project could not be implemented immediately. First, you need to ensure that the level of technology allowed to provide the reliability and continuity of the process.

In addition, she added, in the transition to digital currency it is important to understand whether society is ready to abandon the cash at the expense of anonymity.

Meanwhile, the main value of the Bitcoin has exceeded nine thousand dollars. Growth continues for several weeks. The digital coin is worth three times more than at the beginning of the year, which, according to experts, makes it the most effective investment among all asset classes this year.

Experts of Bank JP Morgan noted a marked difference with what was happening on the cryptocurrency market in the last year when people from all over the world buying Bitcoin in the hope of a quick profit.

Now the first fiddle is played by institutional investors, not private, which in turn creates a much more stable base for the future of cryptocurrency because institutional investors are not inclined abruptly to rushing from side to side, and focus on long-term investments. And therefore the risk of a bubble is much smaller.

Trading volumes in these currencies in recent times has increased dramatically. If for the entire first quarter was just over $ 200 billion, only for may increased to 725 billion. And if you take all three primary cryptocurrencies, their market capitalization last month exceeded one trillion dollars, reports channel “Russia 24”.

The Central Bank plans to launch its own digital currency appeared first on crypto.by.