Article9 months ago

Russian Lawmaker Suggests Digital Ruble Could Render Traditional Banks Obsolete

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.

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