This week, the Bank of Russia not only confirmed its readiness to issue a digital version of the ruble (CBDC), but also announced that testing of the token will start in 2022.
The survey involved 1,600 people living in 140 Russian settlements. The respondents represented a wide variety of social and age categories.
The Central Bank of the Russian Federation is confident that the introduction of the digital ruble will create conditions for a qualitative modernization of the entire payment infrastructure of the state. In addition, the availability of financial services for the population will increase.
The SKOLKOVO-NES Center for the Study of Financial Technologies and Digital Economy asked the Russians if they would use the crypto-ruble:
- 14% of respondents said they would definitely use the digital ruble in transactions.
- 36% of respondents said that they are highly likely to switch to a token.
However, there is still a very high proportion of citizens who are extremely negative about the idea of launching a crypto-ruble.
- 38% of survey participants said with confidence that they would not use the token.
Egor Krivosheya, representing the team of researchers, noted that, in principle, Russians are interested in innovation. However, in any society there is a group of people who are always critical of any technology, especially regarding the banking system.
Central Bank of England may launch digital pound to remain trading center after Brexit
The financial think tank has proposed the UK to create a digital pound to cement London’s status as a global trading center after Brexit. Previously the center of gravity for Europe’s financial sector, London lost much of its influence at the end of 2020 after the UK left the European Union.
The UK Treasury will consider this proposal, which could make London more attractive to global traders, as attention has now shifted to Amsterdam.
“The Bank of England is discussing CBDC and this should be a priority as this technology is the future. It will bring other benefits, such as real-time regulation to reduce costs , ”said Daniel Hodson, chairman of think tank CityUnited.
Hodson also added that the progress made by China in launching the CBDC should concern British financial authorities:
«The central bank digital currency (CBDC) must become the fundamental foundation for the country’s post-Brexit competitiveness, otherwise China will pull ahead.»
The creation of the digital yuan is believed to be aimed at achieving the global economic impact of the Chinese CBDC. With the accelerated testing of the digital currency, the Chinese leadership plans to present its development at the Beijing Winter Olympics in 2022.