According to news outlet, iaftnews, a combined research effort by Yandex.Money and Moscow’s Department of Information Technology (DIT) found that the use of cryptocurrencies within Moscow residents is approximately 1%. An approximate amount of 5% has also been disclosed, which reflect residents who have yet to try out digital currencies but are keen in doing so.

The survey, which was conducted in September 2018, took into account 1000 Moscow respondents of varying ages and below are the following results obtained.

Of the 1000 respondents, 340 respondents felt comfortable with cashless payment systems. Of the 340 respondents, approximately 214 of them are said to use services on a daily basis.

For the most part, it seems like the majority of the respondents do in fact hold and use bank cards, with very little choosing online or mobile banking options. In particular, of the 960 respondents who have a bank card, only 384 of them use mobile banking services, with a little over 300 of them using internet banking.

Evidently, when asked what the future of a cashless society holds, majority of the respondents are aware that it will definitely become a thing, however, it seems like a significant number of respondents’ lack confidence in such services.

The reasons why doubt and disapproval holds have been concluded as being due to fraudulent activities and theft, the need to pay commission, and limits associated with the services offered via cashless payment systems. A small percent of respondents, approximately 9%, have reported that they do not use online services or digital currencies because of their lack of practical understanding of technology.

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