‘Departing technology’: Cash going way of the dodo, will be replaced by digital money in coming decades, says Russian Central Bank ...News

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Cash is becoming a thing of the past, and in the next few decades it will be completely replaced by digital currency. That’s according to the first deputy chairman of Russia’s Central Bank, who predicted the end of physical money. Speaking on Friday at the St. Petersburg International Economic Forum (SPIEF), Sergey Shvetsov said that cash is becoming less and less essential, with more people using cards and non-physical methods of payment. “Paper is an infection. They call it ‘dirty money,’” Shvetsov said. “It’s probably a departing technology.” According to the banker, cash is now mostly used in cases where there is no alternative, su

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‘Departing technology’: Cash going way of the dodo, will be replaced by digital money in coming decades, says Russian Central Bank ...News

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