ANALYSIS OF DIGITAL CURRENCY IMPLEMENTATION MODELS IN RUSSIA

The relevance of the article is determined by the fact that today the issue of introducing the national digital currency into the country’s monetary circulation is one of the most discussed. The article is part of a study of the current state, prospects for the development of the digital economy in Russia and its regions. This article was written using materials from the Central Bank’s report “The Digital Ruble”, foreign sources highlighting the experience and concepts of other countries in implementing digital currency as a new payment instrument, and research by domestic scientists. The article analyzes the prerequisites for the emergence of digital currency in Russia, to whom it will be available, as well as what additional opportunities digital money will bring to economic entities: businesses, citizens, the state and the financial market. The advantages of the digital ruble are determined when it is introduced into the country’s monetary circulation over the existing forms of money. Based on the assessment and analysis of four models for implementing the digital ruble in the Russian economy, their common features and specific differences from each other are highlighted. When describing the interaction of the participants in the mechanism for introducing the digital ruble in the constructed schemes of models A, B, C and D, the sequence of actions of each participant is indicated, which allows us to clearly see the process of their two-level interaction. The author’s own point of view and that of many financial experts and academic economists is that Model D is one of the best options for the implementation of the digital ruble mechanism in the Russian economy, as it takes into account the interests and opportunities of all economic actors.

national digital currency, digital money, digital ruble, digital payment instrument, Central Bank, financial intermediary, model, emission, transaction, digital economy, digital technologies, cryptocurrency

Reykhert N. V. Analysis of digital currency implementation models in Russia. Business. Education. Law, 2021, no. 4, pp. 76—83. (In Russ.) DOI: 10.25683/VOLBI.2021.57.410.