A leading Russian academic has told Moscow what many in the crypto world have been thinking for a very long time – that central bank digital currencies (CBDCs) like the so-called digital ruble will not provide many of the advantages of a cryptoasset like bitcoin (BTC).
Speaking in an interview with Finveria, Vasily Solodkov, the head of the Higher School of Economics’ Banking Institute, stated,
“Bitcoin’s main advantage is its ability to bypass various restrictions. You buy bitcoin, pay it to anyone, anywhere, or vice versa. You get paid in bitcoin, you sell it and get your money. Can this be done with a digital currency offered by the Central Bank? Most probably not.”
However, it appears that Solodkov’s points would be relevant not only to Russia and its digital ruble project, but also to the many other countries now working on CBDC issuances and hoping to gain all the same advantages tokens like BTC currently have – while retained what some would claim are outmoded financial models, including centralization.
Meanwhile, elsewhere in Russia, Alfa-Bank, the head of one of the country’s biggest commercial banks, has urged Moscow to regulate crypto. In an interview with media outlet RBC, the bank’s chairman of the board of directors Petr Aven stated,
