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Many Russian experts believe that cryptocurrencies, and first of all, bitcoin, have a huge potential.
However, such instruments are not able to undermine the position of the US dollar in the global market. Even central bank digital currencies, such as China’s, will not be able to eliminate the dependence of the global financial system on the US currency.
This point of view is shared by Oleg Shibanov, who heads the SKOLKOVO-NES Center for Research on Financial Technologies and the Digital Economy.
The dollar will still retain the status of the leading means of payment in the world. No alternative instruments, including CBDCs or decentralized cryptocurrencies, are able to shake the dominant position of the dollar, the expert emphasized.
Shibanov will not rule out that in 2023 citizens and companies will be able to use the digital yuan. This is the third form of currency after cash and electronic, but even this instrument will be secondary after the US dollar.
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