The introduction of the digital ruble aims to enhance payment processing speed and bolster the security of financial transactions. Moreover, the state digital currency platform will support smart contracts that facilitate the coordination of fulfilling obligations among parties involved. In 2024, the digital ruble will be tested in certain categories of budget expenditures, particularly in areas where targeted use of budget funds is crucial. This includes social payments, subsidies, allocations for procurement or provision of specific services, and infrastructure projects such as road construction.
It is worth mentioning that Russian Finance Minister Anton Siluanov previously assured that by 2024, all Russians will have access to payments in digital rubles.