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Stacy Herbert on how she met Max, hearing about Bitcoin in 2011, & why life is nothing like Twitter

Digital ruble won’t help circumvent sanctions, bitcoin is needed – HSE
CONTENT
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The digital ruble is not innovative compared to cashless payments
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The declared advantages of digital currency have already been realized to one degree or another, says the director of the Banking Institute of the Higher School of Economics
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The emergence of the digital ruble may lead to an increase in interest rates on loans
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The digital national currency will be significantly inferior to bitcoin in terms of circumventing restrictions, says the director of the Banking Institute of the Higher School of Economics

The digital ruble, being developed by the Bank of Russia, will not be able to match the potential with cryptocurrencies. This opinion was expressed in an interview with Finversia.ru by Vasily Solodkov, Director of the Banking Institute of the Higher School of Economics (HSE).
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According to Solodkov, the state digital currency “obviously loses” to cryptocurrencies and is significantly inferior in terms of opportunities. The digital ruble, emphasizes Solodkov, will not have such functions as anonymity, transboundary and finiteness.
Digital bike
According to Solodkov, the digital ruble is fundamentally no different from non-cash payments. In his opinion, everything that the Central Bank calls the digital ruble is already working in one way or another. Also, Solodkov does not see any fundamental difference from surveillance of non-cash payments and the digital ruble:
“We see that the state keeps track of everything it needs, like some plumber, Uncle Vanya, from Spain, transferred $ 20 to Navalny.”.

The director of the HSE Banking Institute believes that the main advantage of bitcoin is the ability to “bypass various restrictions.” The digital ruble, according to Solodkov, is unlikely to be able to offer the same level of freedom..
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Solodkov believes that in the conditions of a falling economy, it is necessary not to raise taxes, but to improve the investment climate.
“And what the Central Bank offers with its digital ruble leads exactly to the opposite,” he emphasizes..
Technological sabotage
The emergence of the digital ruble, Solodkov says, will primarily harm banks and payment systems due to the emergence of the state payment system. Despite the fact that the simplification of settlements with the digital ruble has a positive effect, the disappearance of competition in the banking market due to the digital currency “will definitely have a negative effect.”.
“When you go for a loan, and then it turns out that the number of banks has decreased, the choice has become less, and those banks that remained have lost funding – and what did they do? That’s right – we raised interest rates on loans, ”Solodkov gives an example..
Anatoly Popov, Deputy Chairman of the Board of Sberbank, spoke earlier about the potential increase in interest rates on a loan due to the digital ruble. According to Popov, the digital ruble issuance model, in which the digital version replaces cash and non-cash money through emission, will lead to a “significant” loss of liquidity of bank assets, which will affect lending.
At the same time, the Bank of Russia announced that the digital ruble could not be used to issue loans, borrowings or deposits. In the basic concept, digital currency cannot be used for bank deposits or loans, said earlier Deputy Chairman of the Bank of Russia Alexei Zabotkin.

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