Second-richest man in Russia chooses to back the digital ruble over Bitcoin (BTC)

Vladimir Potanin has expressed his preference for CBDCs, and tokens backed by real-world assets over private crypto. The country’s second-richest man said this in a recent interview with Bloomberg.

Potanin revealed that he believed private cryptocurrencies would soon be made irrelevant with the development of CBDCs and the tokenization of physical assets. The billionaire who is invested in a blockchain company called Atomyze that tokenizes real-world assets to facilitate the easy and transparent exchange of these assets was speaking after the firm received a license to operate in the country.

Unlike some cryptocurrencies, platforms like Atomyze offer high-quality and secure digital goods to consumers and can drive unreliable products out of the market,” said Potanin. Potanin also revealed that the development of a CBDC, or in this case, a digital ruble, was going to be a step in the right direction for Russia. He noted that with a digital ruble, the central bank could make advancements with blockchain technology void of the risks posed by private crypto like Bitcoin.

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