• According to research, one-tenth of Russians is willing to get pay in digital rubles

  • While the Bank of Russia continues to build its central bank digital currency (CBDC), a poll found that few Russians are willing to accept salary payments in the digital ruble.

    In a new survey by local job portal HeadHunter, nearly half of Russian respondents strongly objected to getting pay in the digital ruble. Only 11 percent of respondents said they were willing to be paid in the digital ruble, while 41% said they were “categorically opposed” to being paid in the CBDC, according to local news source Izvestia.

    As Russia prepares to begin testing the digital ruble in January, up to 48% of respondents stated they were unsure if they wanted to be paid in the state-controlled digital currency.

    Half of those who agreed to earn 100% of their income in the impending digital currency were among the few survey participants who were ready to be paid in the digital ruble. Another half of those polled said they would prefer not to have the CBDC take more than 50% of their pay.

    The news comes as the Russian central bank announces the formation of the first pilot group for testing the digital ruble, which includes 12 large Russian banks, including state-owned Sberbank and VTB, as well as major private banks like Tinkoff Bank. According to Izvestia, these financial firms currently handle 87 percent of Russian salary payments.

    The Bank of Russia has announced its plans to issue a CBDC in late 2020, as previously reported. Once the digital ruble is widely accepted, the central bank is considering utilizing it to disburse salaries. Users will be able to store and trade the new digital money via a bank card-like device, according to the bank. Anatoly Aksakov, a Russian government official, claimed earlier this year that the digital ruble is the “highest form of money.”

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