– Belarus’ Central Bank plans to launch a CBDC called the digital Belarusian ruble (DBR) by 2026
– The goal is to decentralize cross-border trade and eliminate risks, including sanctions-related worries
– The CBDC will be based on the Hyperledger Fabric blockchain protocol
– Legal entities will be able to start using the coin in 2025, with a nationwide rollout in 2026
– The coin will allow for anonymous purchases and will be totally decentralized
– The NBB aims to add cross-border functionality to the CBDC
– The NBB has already created a demo version of the CBDC and is building a platform for it
– The CBDC is expected to drive down the cost of cross-border payments and will not charge commission on transactions
– The coin will allow the state to better control where budget-allocated funds are spent
Belarus’ Central Bank is planning to roll out a new Central Bank Digital Currency (CBDC) in 2026, with the goal of decentralizing cross-border trade.
2. CBDC Rollout and Goals
The National Bank of Belarus (NBB) aims to decentralize cross-border payments and trade, addressing the reliance on major currencies like the dollar and euro. The bank has created a demo version of the CBDC and is building a platform for its launch. It plans to start allowing businesses to use the coin in 2025 and aims for a nationwide rollout in 2026.
3. Benefits and Features of the CBDC
The CBDC, known as the digital Belarusian ruble (DBR), is expected to help eliminate risks related to sanctions and open up new opportunities for cross-border cooperation. The NBB also aims to drive down the cost of cross-border payments and does not intend to charge commission on transactions. The CBDC will be based on the Hyperledger Fabric blockchain protocol and will enable the state to better control the allocation of funds. Additionally, the coin is designed to be decentralized, allowing citizens to exchange it for cash or non-cash rubles at any time.
4. Potential Impact on National Security
The announcement of the CBDC rollout comes amidst an investigation of some 20 analysts in Belarus over “harming national security,” indicating potential political implications of the new digital currency.
Belarus’ plans for a CBDC represent a significant step in the country’s efforts to address the challenges posed by international sanctions and to promote cross-border trade and economic cooperation.
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