💸 Goodbye, Cash? How the Digital Ruble Will Change Our Wallets (by 2030)
The era of cash is rapidly coming to an end. Sofia Glavina, Associate Professor of Economics at the Peoples' Friendship University of Russia (RUDN), has made the latest predictions regarding the adoption of the digital ruble (CBDC). Here are the key points:
🔹 In which sectors will cash demand decline?
Retail trade, public services, and inter-regional payments will be the first to be affected. The digital ruble will become an instant, low-cost, and state-backed transaction tool.
🔹 Digital Currency vs. Cash
Currently, cash usage in Russia is at a historically low level (around 10%). By 2030, cash usage is expected to decline by another 5-10%. However, this does not mean that funds will disappear; the total money supply will remain stable—funds are simply "flowing" from physical wallets to digital systems.
🔹 Who will still insist on using cash?
Cash will still hold a place in rural areas, among the elderly, and in situations where anonymity is needed or as a "reserve" during times of economic turmoil.
🔹 Hybrid Financial Model
Bank cards won't disappear. The future will see a dual-track system:
Digital Ruble (ЦР): for fast, cheap, and secure everyday transfers.
Bank cards: for more complex financial transactions, wealth management, and credit card points/cashback.
🗓 Key Timeline: The Russian State Duma has announced that starting September 1, 2026, workers may begin receiving their wages in digital rubles.
Are you ready to switch to a "digital" salary? Or do you still find traditional plastic cards and cash more reliable? Feel free to discuss in the comments! 👇
