In the latest survey conducted in Russia, dissimilar believe of Russians toward fiat currency and cryptocurrencies were revealed. To be precise, 14% of the 1000 people surveyed believe that that digital assets like Bitcoin and other altcoins will be able to replace fiat currencies in the coming ten years.
Russians Believe Cryptocurrencies Will Replace Fiat Money Soon
In accordance with Nord News, the research was conducted by Otkritie Bank, which is also listed in the top ten banks of the country. As found in the research a significant percentage of people believe that cryptocurrencies have the potential to replace fiat currencies.
The research was conducted keeping in focus people from the age group 18-65 across the major cities in Russia between April 12 and April 16. Although 8% of the people involved in the survey from the Northwest region think that crypto assets will oust fiat in the coming 10 years.
In addition to this, it was revealed that around 21% of the people residing in Moscow believe otherwise.
As a matter of fact, four out of ten in the capital city of Russia foresees banks getting adapted into digital ecosystems as the crypto industry keeps evolving and advancing its arms.
Traditional Thinking Still Dominates the Northwestern Federal District
The belief on fiat currencies or rather we should say, the traditional thinking on fiat is still there among the Northwestern Federal District. It can be said because over 34% of the people involved in the survey said:
“They believe that cryptocurrencies cannot replace traditional currencies in anything.”
Moving further with the survey, around 46% of the respondents gave a neutral stance from the complete Moscow region, and they said that people should always have a chance to choose between crypto and traditional money.
Moreover, 39% of the respondents in the survey think:
“It is impossible to give up cash because not all over the world will be able to do without it.”