The head of Russia’s central bank has stated the institution could one day kick off its own digital currency.

Chairwoman Elvira Nabiullina stated to a student convention that, while such a project “cannot be realized immediately,” several central banks, including Bank of Russia, are investigating the potential, TASS reported Saturday.

Key to the utility of a central bank digital currency (CBDC), she stated, is that the technology must ensure “reliability and continuity .” “Technologies must be mature, including systems of distributed registries,” Nabiullina stated. Another query is whether citizens are prepared to leave cash behind.

According to Nabiullina :

“It will be more convenient, it is electronic money for people, for citizens. Are we ready, as a society, to refuse cash ?”

While some nations have become almost cash-free, others are still fond of physical money, she said – not so much for illicit reasons, but because they value privacy and anonymity.

She finished with certain advice to the central bank’s researchers, stating they should compare the advantages of CBDCs over other methods, for instance, fast bank payments.

With something of a tradition of getting crypto-skeptical, Russian officials have softened towards the tech more recently. Just last month, Nabiullina asserted that the central bank would consider the use of a gold-backed cryptocurrency to aid international settlements.

Also reported by Tass, she stated at that time that the Bank of Russia would review a plan for the progression of the cryptocurrency. Nabiullina added, however, that fiat currency settlement systems within the Eurasian Economic Union are improving and already have “good dynamics .”

The Duma, Russia’s lower legislative house, is also moving towards passing cryptocurrency laws, although a projected completion timeline of this spring session is looking unlikely to be achieved.