Another Russian crypto expert has warned of the dangers of the nation’s Central Bank issuing a so-called digital ruble, claiming that neither consumers nor banks are yet sold on the idea of using a digital fiat.
In an interview with AB News, Viktor Dostov, the Chairman of the Russian Electronic Money and Remittance Association and the head of the Center for Distributed Ledger Technologies at St. Petersburg State University, said that end-users would likely have their heads turned by digital ruble payment solutions.
Dostov opined that a Russian central bank digital currency (CBDC) would be more “convenient and cheaper” than existing payment platforms.
However, he added that the “attractiveness of switching to the digital ruble” for many other consumers would be “far from obvious.”
Dostov stated that conventional commercial bank-issued alternatives have become easier than ever to use of late, making use of QR codes and contact-free interfaces. He also opined that commercial banks would likely push back against the idea of sharing data on their (and their customers’) transactions so directly with the Central Bank.