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Best Bachelor Thesis of the Year: Sofiia Evdokimova Wins for Research on Digital Ruble 

https://www.wittenborg.eu/best-bachelor-thesis-year-sofiia-evdokimova-wins-research-digital-ruble.htm

Study Analysed Consumer Perceptions of the Digital Ruble and the Factors Influencing its Adoption

On 11 July, Sofiia Evdokimova’s graduation assignment was awarded Best Bachelor Thesis of the Year 2024 during Wittenborg’s Summer Graduation Ceremony at the Grote Kerk in Apeldoorn. Her study focuses on a timely subject: the introduction of the Digital Ruble in Russia and the key factors influencing its acceptance by consumers. 

Sofiia completed an International Bachelor of Administration (IBA) in Economics and Management at Wittenborg. With the Bank of Russia aiming to launch the Digital Ruble nationally in 2025, her research brings valuable insights into the human side of digital currency implementation, and how governments and financial institutions can ensure its success. 

“The success of Russia’s Digital Ruble pilot depends on public acceptance, which is influenced by users’ perceptions and understanding of Central Bank Digital Currencies (CBDC),” she explained. “I chose this topic to address the existing gap in research on Russian consumers’ attitudes and behaviours toward CBDC.” 

Her research used a combination of surveys and interviews to gather data. The survey collected responses from 185 people in Russia who fit the user profile for CBDC, while 13 interviewees – including banking specialists, academics, central bank executives and financial experts – shared their views on broader adoption factors. Topics ranged from the public’s awareness of CBDC to issues of security, functionality and trust. 

The findings revealed a moderate level of interest (60%) among Russian consumers but low overall readiness to adopt the Digital Ruble. According to Sofiia, this reluctance stems largely from limited digital literacy, lack of awareness and trust issues. Common concerns among survey respondents included security, technical stability and unclear benefits. 

At the same time, participants highlighted their preferences for features such as strong security, data privacy, wide acceptance, high speed and ease of use. Based on these results, the study concludes that the Central Bank of Russia should focus on improving public education, offering clear communication and ensuring broad accessibility and trust in the system to boost adoption. 

Reflecting on the research process, the graduate said she especially valued the real-world perspective gained through interviews: “I really enjoyed conducting interviews, as they gave me a deeper understanding of the topic and added a valuable real-world perspective to my research. Talking with people who are deeply involved in the field was extremely encouraging and motivating, since the topic truly interests me.” 

She also highlighted the importance of mentorship and academic support. “Working with my supervisor, Lasantha De Silva, was both exciting and insightful; I learned a lot from his guidance and feedback.” 

Now back in Russia, Sofiia is working as a corporate finance specialist. “At the moment, I'm focused on building my experience and expertise in the finance field, and my main career goal is to grow into a more strategic role where I can shape big financial decisions,” she said. 

To students currently working on their graduation assignments, she advises: “Choose a topic that genuinely interests you, as it will keep you motivated throughout the whole process. Time management is crucial when writing your thesis, start early and break your work into smaller parts. It will help you avoid last-minute stress and will keep you focused. Additionally, always seek feedback from your supervisor or peers. It will greatly improve the quality of your work and help you stay motivated.”

WUP 28/07/2025 
by Ulisses Sawczuk 
©WUAS Press 

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