According to Olga Goncharova, a former Binance executive and CEO at consulting firm Rizz Go, central bank digital currencies (CBDCs) globally have not achieved the anticipated success. Although CBDCs are advancing, she emphasizes that they seem like costly versions of traditional fiat currencies already utilized via online banking and payment apps. Despite various international efforts, including China's digital yuan, there have been challenges with mass adoption. China's project, begun in 2014, has not gained significant traction in the payment system. Goncharova notes that the European Union's digital euro aims to enhance strategic autonomy from payment giants like Visa and Mastercard but is also struggling with adoption issues. Meanwhile, Russia's delayed digital ruble project is still under development with no immediate need to reduce dependence on foreign systems. While some officials push for ruble-pegged stablecoins, it remains unclear if they can compete with leading stablecoins like Tether's USDt.

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