A new survey revealed the different stances of Russians toward cryptocurrencies and fiat currency. Specifically, some of the respondents believe digital assets will replace fiat in ten years.
Residents in Moscow Believe Cryptos Will Replace Fiat, While Others Are Skeptical
According to Nord News, the research was conducted by Otkritie Bank, a Moscow-based financial institution and one of the top ten banks in the country. It found that 14% of the 1,000 surveyed had an optimistic belief in digital currencies and the future years ahead.
The bank collected responses from people aged 18-65 across the largest cities in Russia between April 12 and April 16. Although 8% of the respondents from the Northwest region think crypto assets will oust fiat currency in ten years, 21% of the residents in Moscow believe otherwise.
In fact, four out of ten in the Russian capital city foresee banks reinventing themselves into “digital ecosystems,” as the crypto industry keeps developing and extending its arms.
The traditional thinking on fiat still lies among the Northwestern Federal District, as 34% of the respondents “believe that cryptocurrencies cannot replace traditional currencies in anything,” stated the survey.
Furthermore, a neutral stance came from the whole Moscow region, where…