Survey: Russian Public Largely Unenthused About Digital Ruble

A recent survey conducted by BankInform, a media outlet and information service provider, reveals that most Russian citizens exhibit distrust or disinterest in adopting the digital ruble.

The survey, aimed at understanding public sentiment, was administered to subscribers of BankInform.

What is the Digital Ruble?

The term "digital ruble" refers to Russia's central bank digital currency (CBDC), which is a form of digital money issued by the country's central bank. It's designed to function similarly to the traditional ruble, but in digital form.

The aim is to modernize and streamline financial transactions.

Currently in real-world testing, the digital ruble is being piloted with a select group of consumers and involves the participation of 15 Russian commercial banks and a small number of small- and medium-sized retailers.

Of those surveyed, only 13% expressed an intention to use the digital ruble and recognized its potential benefits.

Meanwhile, 34% indicated curiosity about the new form of the ruble but showed no inclination to use it. A noteworthy 21% declared no interest whatsoever in the digital ruble.

Interestingly, a significant portion of respondents, 32%, went so far as to describe the digital ruble as potential fraud, urging caution.