Digital ruble: new opportunities and risks

Abstract

From August 1, a new currency appears in Russia - the digital ruble. It is the third form of national currency. So far, operations with it will be able to carry out only those who will take part in the pilot project of the Central Bank. But in a few years, the digital ruble may appear in our wallets. How does it differ from cash and non-cash? What are the advantages of individuals to business and the banking system? The article provides arguments in favor of introducing a new form of settlements, as well as the risks of introducing a digital ruble from the point of view of participants - individuals and business entities. Will the Bank of Russia thus seriously compete with commercial banks? The article also analyzes two key issues on the part of the professional economic and banking community, considers one of the most likely changes associated with the digital ruble, which is the redistribution in favor of clients/depositors of banks of part of the interest income that banks with cheap liabilities now receive.