Consumer costs in case of digital ruble implementation and issues of completeness of money functions of the digital rouble

The implementation of the digital rouble in the Russian economy was examined in this study. The model chosen by the central bank of the Russian Federation for implementing the digital rouble was analyzed. The model proposed for implementation entails incurring additional costs for credit institutions, these additional costs are likely to be passed on to their customers by increasing the fees for various banking transactions. Besides, the completeness of money functions of the digital rouble was analyzed. It was found that in it’s initial stage of existence, the digital rouble wouldn’t fully perform the functions of money, such as, payment instrument (due to the lack of offline mode of payment with digital roubles), means of saving (due to limitations on the validity of electronic signature key certificates and periodic replacement of cryptographic algorithms).