Money surrogaty in Russia

Russia, as well as throughout the world, more and more attention is being paid to money substitutes. Money substitutes are substitutes for official forms of money, entered into circulation arbitrarily by economic entities for making payments. From an economic point of view, these surrogates represent a "form of defective money."To date, the most popular way to carry out transactions between various entities is the use of cash substitutes, presented in the form of virtual currency (cryptocurrency). The most famous cryptocurrency in the world is Bitcoin (Bitcoin), which, according to Internet resources, was launched in January 2009.The essence of this type of cash surrogates is the storage of monetary value on electronic media, in particular, smart cards and the hard drive of a computer. Electronic money should be considered a multipurpose product, since this type of cash surrogates is a way of settlement within electronic payment systems between the issuer of electronic money, as well as various users and sellers of goods and services.