CEO and co-owner of Qiwi payment system Sergey Solonin announced the start of developing of its own cryptocurrency called bitruble.
The company hopes to launch the new digital currency in 2016. According to preliminary calculations, Qiwi will have to spend several hundred million rubles to create a new virtual currency.
Qiwi’s CEO Sergey Solonin said that he had several informal meetings with the central bank representatives. Importantly, it is impossible to issue any currency without the permission of the regulator in Russia. In addition, the central bank is in capacity of carrying out monetary emission. Knowing about these requirements, the company sent a letter describing the project to the law enforcement agencies. The exact launch date of the bitruble depends on the central bank.
Experts will carefully assess the issue, and the central bank is allegedly ready to control this sphere if necessary. According to Russian Central Bank Governor Elvira Nabiullina, digital currencies can be used for carrying out suspicious transactions.
Qiwi intends to use blockchain or bitshares technologies, which are undergoing thorough testing at the moment.
Importantly, a virtual currency bitcoin is used all over the world. It is possible to earn this currency by running a program on a computer and solving math problems, or to buy it for real cash.
According to Russian President Vladimir Putin, bitcoins can be used as a payroll unit in particular spheres, but it may create some problems. The point is that the money is not collateralized.
Some of the largest companies in the world have recognized this currency as means of settlement. However, cryptocurrency is prohibited in Vietnam, Bangladesh, Bolivia, and Ecuador.
