Cash is already an outdated technology, in a few decades it will have to be replaced by digital currency, writes TASS with reference to the first deputy chairman of the Bank of Russia Sergei Shvetsov.
“After all, paper is an infection. They say – “dirty money”, and so we also received infectious ones. Probably, this is a waste technology, ”he said during a session at the site of the St. Petersburg International Economic Forum.
Shvetsov added that cash is already being used either to service the “gray” business, or when there is no alternative and the ability to make a non-cash payment. The first deputy chairman of the Central Bank also noted that the pandemic contributed to the abandonment of cash.
“I think that someday, in 20-30 years, cash will also be marginal. The digital ruble will have to replace them. And the speed of creation of this product very much depends on the technological readiness, ”he said.
Along with this, Shvets emphasized that there is still no final decision on the introduction of the digital ruble. So, by the end of the year, the regulator plans to create a prototype of a platform for a digital currency, and only after testing a final decision on the fate of the project will be made.
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