INTRODUCTION OF THE INSTITUTE OF DIGITAL CURRENCY

In the context of the rapid introduction of digital innovations in the financial sector, an objective basis is being formed for the further development of the payment infrastructure based on the digital national currency. In modern conditions, almost all developed countries are actively implementing digital currency projects, focusing on ensuring the innovation and efficiency of the payment system in the interests of all economic entities: the state, business and the population. This article explores the objective foundations for the introduction of national digital currencies, describes the factors influencing the decision to issue digital currencies by the monetary authorities, notes the results of the implementation of the digital currency project in different countries, analyzes the implementation of the pilot project for the introduction of the digital ruble by the Bank of Russia, highlights the most vulnerable areas in the implementation of the digital currency project. It is shown that the process of transition to digital currencies is irreversible, the activity of countries in their implementation is due not only to economic reasons, but also to political benefits. The purpose of the article is to study the process of building and implementing the design of digital currencies. The objectives of the study are: analysis of the objective foundations for the introduction of digital currencies, characterization of the factors influencing the decision of the monetary authorities to issue digital currencies, assessment of the results of the implementation of digital currency projects by monetary regulators, progress in the implementation of the project to introduce the digital ruble in Russia, identification of vulnerable areas in the implementation of the project digital currencies. The methodological basis of the study was a systematic approach and such general scientific methods of cognition as scientific abstraction, a combination of historical and logical, analysis and synthesis, the method of comparison and comparison. The results obtained can serve as a prerequisite for further research on ensuring the effectiveness of projects related to the introduction of digital currencies.

digitalization, digital currency, digital currency design, digital ruble, digital innovations, central bank, monetary regulator, digital payment systems, financial stability, risks, innovations, financial services industry, financial sector

Makarkin N. P., Mitrokhin V. V. Introduction of the institute of digital currency. Business. Education. Law, 2022, no. 3, pp. 198—203. DOI: 10.25683/VOLBI.2022.60.386.