Research conducted by the information service provider Bankinform estimated that many Russians are interested in the news surrounding the potential launch of a digital ruble. However, 32% are not in favor of such a monetary product, viewing it as some sort of scam.

The world’s largest country by landmass has been among the most active on the CBDC scene. The pilot version, which will include testing with banks, businesses, and consumers, is expected to start in mid-August.

Russians not so Supportive

The study revealed that 13% of the respondents closely monitor the development of the digital ruble and intend to use it once it sees the light of day. Those participants also said they see new opportunities presented by the upcoming CBDC.

Every third questioned person admitted following the news about the new digital form of Russia’s national currency but has no intention to deal with it. Over 21% are not interested in the topic at all.

The most interesting answer came from 32% of the respondents, who labeled the Russian CBDC as “some kind of fraud.” 

There are different reasons why one might not be in favor of that type of financial product. CBDCs will be issued and controlled by centralized authorities, meaning they could endanger people’s privacy. According to Bankinform, though, another contributing factor to the distrust in the digital ruble could be the “ignorance” and the lack of substantial information on its advancement.

Scam or not, many nations (including some leading economies) have already started exploring the product. As CryptoPotato recently