Goznak Boss Claims The Digital Ruble Won't Kill Paper Cash—Yeah, Right
Goznak, the folks who actually print the physical money in Russia, are downplaying the impact of the upcoming Digital Ruble. It is adorable how they think their printing presses will stay relevant in an increasingly monitored digital economy.
Georgiy Kornilov, the deputy director for marketing at Goznak, recently insisted that the launch of the Digital Ruble will not shift the landscape of physical cash in the coming years. It seems the state-owned printing monopoly prefers to ignore the digital elephant in the room while the Central Bank of Russia prepares its ledger-based revolution.
The Digital Ruble acts as a third form of currency, essentially a unique digital code stored in electronic wallets managed by the Central Bank. While the transition is set to start in September 2026, the strategy involves a staged rollout, forcing banks to join the platform by 2028.
Users will face a monthly limit of 300,000 rubles when moving funds from standard bank accounts to digital wallets, but once the money is in the digital vault, the regulator claims it can be spent freely. The printing machines at Goznak, however, remain optimistic about their future, likely banking on the fact that some habits are harder to break than government-mandated tech upgrades.
History has a funny way of making "essential" industries obsolete overnight, yet the industry insiders always pretend they have an infinite runway. Whether this is genuine confidence or just a desperate attempt to keep the paper industry from panicking before the inevitable shift to total digital oversight remains the real question for the future of state finance.
Source: TASS
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