Most Russian citizens distrust or have no interest in using the digital ruble, a survey finds
A recent survey conducted by BankInform, a media outlet and information service provider, found that most Russian citizens have a lack of trust or interest in using the digital ruble, Russia’s Central Bank Digital Currency (CBDC). The survey asked subscribers for their thoughts on the CBDC and revealed the following key points:
- Only 13% of respondents said they intend to use the digital ruble and see it as bringing new opportunities.
- 34% of respondents were interested in the arrival of a new form of the ruble but had no intention of using the token.
- 21% of respondents expressed no interest at all in the digital ruble.
- 32% of respondents chose an option stating that the digital ruble is some kind of fraud and people should exercise caution.
- BankInform suggests that increased awareness does not guarantee the dissipation of suspicions about the digital ruble.
This survey highlights the challenges that the Russian Central Bank faces in gaining public acceptance for the digital ruble. The nation’s biggest banking association has also expressed concerns and requested clarification on certain issues related to the CBDC. Despite mixed feelings among business leaders, the Kremlin and the Central Bank believe that a Russian CBDC will help de-dollarize trade operations without the need for further cryptocurrency adoption.
Hot Take
The survey results show that the Russian public has significant doubts and lack of interest in the digital ruble. This poses a major challenge for the Central Bank in gaining acceptance and adoption of the CBDC. Increased awareness alone may not be enough to overcome these concerns, highlighting the need for further education and communication efforts. It remains to be seen how the Central Bank will address these issues and whether they can successfully convince Russian citizens of the benefits of the digital ruble.
By
By
By
By