Digital Ruble and Blockchain May Shake Up Traditional Banking, Says Russian Official

Anatoly Aksakov, a key figure in Russias finance committee, believes that the advent of central bank digital currencies (CBDCs), particularly the digital ruble, could put conventional banks on the road to obsolescence. Aksakov, known for his reservations about Bitcoin, recently stated that the role of traditional financial institutions would diminish as blockchain technology becomes more integrated into monetary systems. During a media forum known as AIF Media, Aksakov indicated that existing banks will need to evolve and find innovative functions. They could still play a part in the...

source: https://tokenpost.com/Digital-Ruble-and-Blockchain-May-Shake-Up-Traditional-Banking-Says-Russian-Official-10633

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