The largest insurer of the Russian Federation called the advantages of the digital ruble

The largest insurer of the Russian Federation called the advantages of the digital ruble CONTENT

  • One of the backbone Russian insurance companies expects benefits from the digital ruble

  • Insurers believe digital currency will only offer the consumer benefits

  • Business and bank representatives are skeptical about the idea of ​​the Bank of Russia to independently issue and store the digital ruble

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One of the backbone Russian insurance companies spoke out in support of the emergence of a domestic digital currency from the Central Bank


 

The largest insurer of the Russian Federation called the advantages of the digital ruble

The Russian insurance giant Insurance House VSK welcomes the initiative of the Central Bank of the Russian Federation to digitalize the domestic economy. The "Expert" edition writes about this, referring to the negotiations between the management of the Bank of Russia and members of the FinTech Association.

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According to Olga Sorokina, General Director for Business Development of "VSK Insurance House", the appearance of the digital ruble will reduce commission costs and increase "the competitiveness of the entire economy".

Seamless transition

Sorokina notes that with the introduction of digital currency into the domestic economy, end consumers will receive additional benefits.

“The chain of intermediaries from customer to supplier can change, which will speed up transactions and provide an additional benefit for the customer,” she said..

The insurance giant believes that the digital version of the ruble can reduce transaction costs arising from mutual settlements with partners.

“Centralization and control of the regulator will ensure the safety of operations for the client,” says Sorokina.

 

However, Sorokina's opinion is not shared both in the banking sector and in the blockchain industry. Earlier, for example, the editorial staff of BeInCrypto reported that, according to Vladislav Martynov, a member of the supervisory board of the Russian Association of Cryptocurrencies and Blockchain (RACIB), centralization of power around the emission and storage of the digital ruble would throw the country's economy back into the Soviet era..

Read also: Russian banks will not participate in the digital ruble issue

The models of the digital ruble proposed by the Central Bank of the Russian Federation will return the economy to the Soviet era, "excluding commercial banks, payment systems and other market participants from the process," Martynov said..

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It also became known earlier that domestic financial institutions “do not take seriously” the specifics of the digital ruble proposed by the Central Bank of the Russian Federation. According to one of the representatives of the banks, there is still no clear understanding of what the digital ruble will be. Most bank representatives "don't take seriously" the digital ruble as a third form of national currency.

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