DIGITAL RUBLE — A NEW TYPE OF MONEY OR AN ALTERNATIVE TO CRYPTOCURRENCY?

The 21st century has become a real revolution in the field of finance. The emergence of digital money, including central bank digital currencies (CBDC) and cryptocurrencies, has significantly changed the banking sector. Many countries are considering the possibility of introducing CBDC today, Russia is no exception. The Central Bank of Russia has issued a digital ruble. The digital ruble is not just a new type of national currency, but also an opportunity to rethink monetary policy and simplify the lives of users. The main goal of this study is: to consider the digital ruble as a new form of national currency, analyze the prospects for its introduction into the monetary system, state the advantages and disadvantages of the digital ruble for individuals and legal entities, assess the prospects for its use and the possibility of even replacing decentralized cryptocurrency in all types of settlements. In the course of the conducted assessment of the advantages and disadvantages of the digital ruble, conclusions were made that the digital ruble is a promising means of payment, which has many advantages over decentralized currency and other means of payment, but does not completely replace decentralized cryptocurrency, which is supposed to be used in cross-border payments in the current conditions. The authors also predict the potential consequences of the introduction of the digital ruble for the Russian economy in the context of sanctions restrictions, including its impact on the financial system, the banking sector, and conclude that the joint functioning of decentralized cryptocurrency and the digital ruble is necessary.

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