Digital Ruble: New Opportunities for the State

Abstract

Introduction of the digital currency of the Bank of Russia into economic circulation provides a number of new opportunities for economic regulation. The purpose of the article is to identify the opportunities and consequences for society associated with their implementation. The study is based on the analysis of scientific literature and publications of the Bank of Russia. The essence of the digital form of the national currency and its differences from cash and non-cash money are considered. An overview of the potential benefits that the state will receive is made. The analysis of the consequences of their implementation is carried out. In particular, they include: the emergence of the possibility of direct targeted lending and financing of certain areas of activity, reducing the level of the shadow economy, improving the efficiency of budget funds management through the use of big data technologies and artificial intelligence. It is concluded that the traditional and digital form of money will have different values for the population and business, depending on the purposes of their use. Two groups of factors influencing demand for the digital ruble have been identified. The assumption about the inevitability of the emergence of the private market of the digital currency of the Bank of Russia in the case of introduction of restrictions on its transfer to other forms of money.