One of the most bullish aspects of crypto is that more people are beginning to understand the power that cryptocurrencies hold. This is quite evident in a Russian study that showed that out of 1000 respondents, 14 percent of them believed that cryptocurrencies could replace fiat in the next decade.
Most of those who believe that cryptocurrencies can replace fiat live in the northeastern part of the country. However, in the more urban Moscow, only about 8 percent of the population believe that crypto will replace fiat. The majority of the respondents believe that the banking sector will most likely evolve to be in line with the reality of cryptocurrencies.
Per the study, the number of those who believe the banking world will evolve in line with the crypto reality is about one in four of those who were interviewed. The research also found out that about 39 percent of the respondents do not see a fiat situation by crypto.
Their rationale is that many parts of the world may not move as fast when it comes to crypto adoption. A significant portion of the respondents in Moscow also stated that they would like to choose between using cryptocurrencies and fiat in their everyday transactions.
The study was done by Otkritie Bank, one of the largest in the country. The results of this study are an indicator that there is a growing awareness of crypto, and people increasingly believe in digital currencies.