CBDCs Will Gradually Displace Private Banks, According to Russian Lawmaker

Central bank digital currencies (CBDCs) and blockchain technology are poised to disrupt traditional banking systems, according to a Russian lawmaker.

Anatoly Aksakov, the head of Russia’s parliamentary financial committee and a known critic of Bitcoin, has forecasted that the conventional banking model will diminish with the introduction of the digital ruble, as reported by a local news agency.