Natalia Milchakova believes that tokenized non-cash money will not compete with the state digital ruble, because there is only one emission center in Russia - the Bank of Russia and no one else. "But it would be nice to integrate services technologically with the platform of the Central Bank of the Russian Federation, on which digital rubles will be stored and circulated. Then banks will not be excluded from the process of circulation of the new digital ruble, and it will be convenient for clients to receive familiar banking services in digital rubles through the application of a familiar bank," concluded Natalia Milchakova.
Leading analyst at Mobile dominican republic whatsapp resource Research Group Eldar Murtazin noted that TBDT technology is a competitor for the digital ruble. "This is a replacement technology. In fact, the report says that such payments will be available and interesting in countries where the penetration of digital services is currently quite low. These could be, for example, the CIS countries," Eldar Murtazin told ComNews.
According to him, the tokenization of money stored in accounts is actually the creation of an analogue of such systems as Samsung Pay, Apple Pay, Google Pay, but at the level of the banking structure of an individual state.
A problem that doesn't exist
Independent expert on IT and telecom markets Vadim Plesskiy believes that the authors of the report are trying to solve a problem that does not exist. In particular, according to him, the document states that "the use of modern digital technologies of the TBDB can create opportunities for increasing the speed, simplifying the implementation of transactions and potentially reducing their cost", while the current server capacity in data centers is sufficient to ensure millions of transactions per second.
The expert noted that the simplification of transactions is achieved by settling transactions in real time, without the need to accumulate a list of transactions for the day and then reconcile with partner banks at the end of the banking day.
"The Fast Payment System (FPS) has demonstrated that it is possible to create a payment instrument that replaces traditional bank cards. It is not practical to replace technologies that have recently been introduced and are working successfully," the expert added.