Part 5/9:
Russia Enters the Consumer CBDC Arena and Explores Gold-Backed Tokens
Russia's Central Bank is preparing for its own pilot program, scheduled to operate with select consumers starting April 2023. This pilot will help inform decisions on whether to scale the project further.
An especially intriguing development from Russia is the exploration of a gold-backed token. Given gold's reputation as a reliable store of value, this initiative could serve as a hedge against the volatility characteristic of traditional cryptocurrencies and fiat-backed CBDCs. If successful, such a token could revolutionize how digital assets are perceived, blending the stability of gold with the convenience of blockchain.