Prospects for the introduction of the digital ruble

On August 1, the President of Russia signed the Law on the introduction of a digital ruble and a special electronic platform. Digital assets have been in circulation on the global market for a long time, and for participants in the Russian financial system such digitalization is recognized as innovative. At the moment, it is expected that such innovations will significantly change the financial system of the state, lead to revolutionary changes in the system of traditional payments and reduce dependence on fiat money. In this article, we will consider the prospects for the introduction of a digital ruble, which in its essence resembles the SBP payments and QR codes used by citizens, we will identify the advantages and challenges that arise already at the stage of formation and development, and we will outline possible measures to reduce the negative consequences.