ARSPLUS and Goznak: Digital currency technology

The main articles are:

• Electronic money
• Cryptography

2022: Digital Currency Technology Development Begins

The Russian IT- companies ARSPLUS"" together with JSC Goznak"" in April 2022 began the development of technology digital currency - a complete analogue of cash. The company "ARSPLUS" announced this on July 4, 2022.

We are not talking about a digital ruble, the Central Bank is doing this, we are developing a technology thanks to which any state can introduce digital currency, - said ARSPLUS President Alexei Tyumentsev.

Transactions are protected by cryptography. For verification, each coin will be protected by a multi-level signature structure.

The presentation of the first stage of development has already taken place. Flexible technology will allow you to configure any encryption algorithms, depending on the regulatory features of a particular state.

Unlike a plastic card, the funds on which are actually in the bank, the digital currency will be in the device's memory, as in a physical wallet. Accordingly, a person fully controls his money, - said Alexey Tyumentsev.

this is a significant savings - on issues, on printing bills and minting coins, the cost of production of which often exceeds their face value. There will be no need for collection. And, importantly, there are rather low infrastructure requirements for the circulation of digital currency.

The advantages for citizens - at least the choice, carry wallets and cash or digital weightless money, as a maximum - are less likely for counterfeiters, as well as a quick transfer from one subject to another.

It is worth noting that the technology is close to blockchain, but this is not it. Unlike blockchain, there is an issue center and transparent economic regulation, - explained Alexey Tyumentsev.