Russian billionaire says CBDCs could replace Bitcoin

A second richest person of Russia claimed that Central Bank Digital Currency (CBDCs) have better potential over Bitcoin and can replace current payment system, which is far more better than risky cryptocurrencies like Bitcoin.

Vladimir Potanin is the second biggest wealthy Russian billionaire. Vladimir is popularly known as the biggest supporter of Digital technology-based payment services. 

Vladimir believes that Digital payments will replace cash payments just like cash (paper) payment replaced Metal coins payment. 

“Metal coins were replaced by paper money, and then transactions became cashless. Digital financial assets are just the next stage.”

Russian Billionaire don’t think that Digital payments-focused development should be inclined to bitcoin or Ethereum like assets because Bitcoin and similar assets are highly volatile and also they are not much reliable to consider in the payment options. 

Vladimir noted that Bitcoin-like cryptocurrencies are not easy to monitor by the governments, so these are very risky under some situations. But he asserted that blockchain technology-based Currencies, CBDCs, may play a more important role against the current existing payment system. 

Billionaire also believes that the adoption of Digital Currency ( CBDC) may result in huge profit for the country in terms of an economic boost and better payment system.

This Russian Billionaire has his investment in the Atomyze, a platform based on blockchain technology used to allow the metals and homes to turn into token form to allow the citizens to trade with such tokenized assets. 

Vladimir stated: 

“Unlike some cryptocurrencies, platforms like Atomyze offer consumers high-quality and secure digital goods and may squeeze unreliable products out from the market,” Potanin stated.

These statement of Vladimir is much identical with the Bank of Russia, which is working on its digital Ruble but doesn’t want to see crypto and also completed its research report to bring a blanket ban on the Crypto industry. 

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