{"id":46178,"date":"2023-08-09T02:18:10","date_gmt":"2023-08-09T06:18:10","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/most-russians-wary-of-digital-ruble-survey-finds\/"},"modified":"2023-08-09T02:18:12","modified_gmt":"2023-08-09T06:18:12","slug":"most-russians-wary-of-digital-ruble-survey-finds","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=46178","title":{"rendered":"Most Russians Wary of Digital Ruble, Survey Finds"},"content":{"rendered":"
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Most Russian citizens say they distrust or have no interest in using the digital ruble, Russia\u2019s CBDC, a survey has found.<\/p>\n

The survey was carried out by the media outlet and information service provider BankInform, which asked its subscribers to give their thoughts on the CBDC.<\/p>\n

The coin is currently being piloted in \u201creal-world\u201d scenarios with what the Central Bank has labeled a \u201cselect group of consumers.\u201d<\/p>\n

Fifteen Russian commercial banks are also participating in the pilot, along with a small group of small- and medium-sized retailers.<\/p>\n

The media outlet reported that \u201conly\u201d 13% of respondents said they \u201cintend to use the digital ruble\u201d and \u201csee it as bringing new opportunities.\u201d<\/p>\n

Over a third of respondents (34%) said that while they were \u201cinterested in the arrival\u201d of a \u201cnew form of the ruble,\u201d they had no intention of using the token.<\/p>\n

More than a fifth of respondents (21%) said they were \u201cnot interested at all\u201d in the digital ruble.<\/p>\n

And it appears that the Central Bank has a lot of PR work to do if it is to win over Russian hearts and minds.<\/p>\n

The media outlet wrote:<\/p>\n

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\u201cThe most curious result of our survey is the fact that 32% chose an option that read: \u2018The digital ruble is some kind of fraud. People should exercise caution.\u2019\u201d<\/p>\n<\/blockquote>\n

BankInform opined that this option was selected predominately by \u201cpeople who are poorly informed about the digital ruble.\u201d<\/p>\n

But it claimed that \u201cit would be an oversimplification to reduce everything to ignorance.\u201d<\/p>\n

The media outlet wrote:<\/p>\n

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\u201cIncreased awareness does not guarantee that suspicions will dissipate.\u201d<\/p>\n<\/blockquote>\n

And it claimed that its \u201csmall\u201d survey demonstrated the \u201cneed for a large-scale study, which has not yet been attended to.\u201d<\/p>\n

Russia\u2019s Digital Ruble \u2013 Problems for Moscow\u2019s CBDC?<\/h2>\n

The news follows developments earlier this week from the nation\u2019s biggest banking association, which claimed that citizens were \u201cextremely wary\u201d of <\/u>the digital ruble.<\/p>\n

The group wrote a letter to the Central Bank with \u201ca request to clarify certain issues pertaining to the digital ruble.\u201d<\/p>\n

And the association called on the Central Bank to introduce \u201ca direct ban on forcing citizens to open a digital ruble wallet.\u201d<\/p>\n

Business leaders in Russia have also expressed mixed feelings about Moscow\u2019s fast-tracked digital ruble pilot.<\/p>\n

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But the Kremlin and the bank appear to think that a Russian CBDC will help Moscow and its allies de-dollarize their trade operations without the need for further cryptoasset adoption.<\/p>\n<\/p><\/div>\n