Zampred CB RF: "Digital currency will replace cash within a couple of decades" – Bits Media

The first deputy chairman of the Bank of Russia Sergey Shvetsov called cash a relic of the past and expressed confidence, that the digital ruble will replace paper money in the next decade.

According to Shvetsov, cash has already become much less popular, than Cashless payments. Mostly, Cash are used in cases, when the use of non -cash is impossible, or for "gray" and criminal businesses. It is also important to reduce the use of paper money at pandemia.

“Still, paper is an infection. They say - "dirty money", So we also got infectious. Maybe, This is a retreating technology. I think, Cash through 20-30 years old, will be marginal. Here the digital ruble will have to replace them. And the speed of creating this product is very much dependent on technological readiness ", - emphasized Shvetsov.

Currently, the Central Bank of Russia is preparing for testing a digital ruble. By the end of the year should be launched
Prototype platform for the release of a digital ruble, And testing
the project will be held over the next year. And only after preliminary tests will the regulator decide on the possibility of the appearance of a digital ruble in Russia.