MOSCOW (Sputnik) – The efforts of such companies as Visa, Mastercard and The American Express Company to shift to cashless transfers are successful in several countries, however there are still a lot of people preferring cash money, Ermakov added.
"I think that we will not shift fully to payments in cryptocurrencies. But not because they are bad in something but because there are still so many so-called cashlovers," Ermakov said.
The Qiwi CTO characterized Bitcoin, one of the world's most popular cryptocurrencies, as "interesting" in terms of its security against fraud.
"As far as everything else is concerned, I have mixed fillings about it … As a result of evolution [of the types of money] the value of currencies depends on demand and supply. The Bitcoin system entered the market in such an 'exchange' mode. It may or may not be perspective," Ermakov explained.
In June, head of Russia’s Central Bank Elvira Nabiullina said that she was "analyzing the possibility" of legalizing the cryptocurrencies use in Russia.
On Monday, chair of Russian lower house’s Committee on Financial Market, Anatoly Aksakov, said that the law on cryptocurrencies might be considered by the parliamentarians during the coming autumn’s session.
