Article • over 1 year ago
Russian Lawmaker Suggests Digital Ruble Could Render Traditional Banks Obsolete
Summary
- Traditional banks may fade in relevance with the development of the digital ruble, according to Anatoly Aksakov.
- Blockchain technology and CBDCs could potentially make banks unnecessary as institutions.
- The Russian apex bank has set a maximum daily usage limit for digital rubles, requiring bank personnel to transition to the Central Bank's information system.
