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21 out of 100 Muscovites Can Bet That Fiat Will Bow Out to Crypto by 2031

21 out of 100 Muscovites Can Bet That Fiat Will Bow Out to Crypto by 2031

A survey just concluded reveals that 14 out of 100 Russians are of the opinion that crypto will take the place of fiat by 2031 but 39 out of 100 think it will never happen.

Otkritie Bank, a famous one in Russia, recently organized a survey to know the faith of residents in crypto. They discovered that 14 out of 100 believe fiat will be gone in the next ten years.

Nord News media in Russia reported that the survey took about 4 days to be completed beginning from April 12. There were 1000 questionnaires distributed to people within the age bracket of 18 and 65 years.

The questionnaires were shared to people in different places, including the Northwest, where less than 10 out of every 100 thought crypto had the capacity to replace fiat by 2031. In fact, 34 out of 100 vehemently disagreed on the possibility that it can even happen.

It was a different experience in Moscow where 21 out of 100 said crypto can actually replace fiat by 2031. In addition, 4% believe that banks will be more digital in some years to come.

If Russia should stop using fiat, then the digital Rubble will come first. Last month, the Bank of Russia expressed hope that the first model of the Digital Ruble will be in place before 2022.

The central bank of Russia plans to start testing the first model from next year. According to Otkrite, 47 out of 100 people living in Russia are expectant.

Nevertheless, the survey also revealed that a lot of Russians don’t think that crypto can replace fiat in the country. 46 out of 100 think it is better to give people a chance to choose between crypto and fiat.

Some Russians are of the opinion that crypto regulations in the country are impeding its acceptance both locally and worldwide. Few weeks ago, some crypto advocates under the guidance of Digital Rights Center kicked off the “Public initiative of the crypto community in Russia”

The crypto advocates are not happy that it is illegal to buy or sell with crypto. They said it was even worse to know that people who refuse to declare their crypto assets are jailed for three years.

Nevertheless, Russia can boast of having crypto owners pay their taxes. Owing to the laws enacted, the government knows how much crypto the residents hold.


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