Category: trials

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Riot Showcases Demand Response Strategy: Bitcoin Mining’s Role in Strengthening Texas Energy Grid

Bitcoin mining aided the Electric Reliability Council of Texas, or ERCOT, when the bitcoin mining company Riot Platforms reduced its power usage amid a Texas summer heatwave. Riot said in its most recent production and operations update that it received $31.7 million in power and demand response credits for August. Bitcoin Mining’s Win-Win: Riot…
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Only 2% of Russians Ready to Keep All Their Savings in Digital Ruble: Poll

While over half of Russians are willing to put some money into their nation’s digital ruble, only 2% say they would keep all their savings in it. Insufficient information and fear of system failures are among the biggest factors turning people away from the government-issued digital currency. Nearly a Quarter of Russians Would Store Less…
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Russia to Test Digital Ruble in 11 Cities, Moscow Subway

Russia’s capital Moscow and 10 other cities will host pilot tests for the digital ruble, Bank of Russia Deputy Governor Olga Skorobogatova announced. Over a dozen Russian banks are going to take part in the trials with real transactions and users scheduled to commence in mid-August. Russia Prepares to Pilot Operations With New Digital Ruble…
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Russia to Launch Digital Ruble Transactions With Real Users in August

Banks taking part in the digital ruble pilot will begin testing transactions with actual clients in mid-August, according to a top executive of one of the financial institutions. The trials are set to start weeks after Russia adopted dedicated legislation for the introduction of its new digital currency. Russian Banks to Process First Digital Ruble…
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Iran’s Crypto Rial Project Enters Trial Phase

The pre-trial stage of the project to introduce a digital Iranian rial has been completed successfully, the country’s central bank announced. The authorities in Tehran plan to expand the use of the state-backed currency and integrate it into Iran’s payment system. Iranian Government Prepares to Trial Its Digital Currency The project to issue a digital…
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Bank of Russia to Start Testing Digital Ruble With Real Users on April 1

The Central Bank of Russia plans to launch test operations with digital ruble transactions between real customers at the beginning of April. More than a dozen banks will join the upcoming stage of the pilot project, a high-ranking representative of the bank announced to Russian media. Russia’s Monetary Authority to Trial Actual Settlements With Digital…
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Banks in Russia to Lose $700 Million a Year Due to Digital Ruble, Experts Say

Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the new digital currency are not that obvious as they may not be paid any interest or cashback. Launch of Russia’s Digital Ruble Said to Result…
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Georgia Prepares to Launch Digital Lari Pilot in First Half of 2023

The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize their proposals for the pilot which the monetary authority plans to initiate in the first half of the year. Financial Authorities in Georgia Gear Up…
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Bank of Russia Outlines Payment Models With Digital Ruble, Other CBDCs

The Central Bank of Russia has detailed two methods for implementing the digital ruble and other state-backed coins in international settlements. The monetary authority also plans to start testing consumer-to-business (C2B) operations in the first quarter of the year. Russia’s Central Bank to Propose Platforms for Digital Currency Payments in Foreign Trade Moving forward with…
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