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Expert opinion: how the digital currency of the Bank of Russia will change the future of the country

Announcing the possible appearance of the digital ruble, the Russian Central Bank joined dozens of world Central banks that have begun research and experiments in the field of creating national digital currencies.

Yevgeny Marchenko, Director of E. M. FINANCE, was one of the first to share his opinion on the issue. The expert is sure that the introduction of the digital ruble is necessary to increase the convenience of payments for citizens.

Also, among other advantages for citizens and banks, the introduction of the electronic ruble will allow the Bank of Russia to better regulate the country's economy.

The official representative of the Garantex cryptocurrency exchange, Tatyana Maksimenko, noted that it will be increasingly difficult to conduct gray and black schemes since cash flows will be under control — both foreign and domestic.

According to independent expert Leonid Khazanov, the digital ruble is primarily beneficial to the Bank of Russia and the Federal Tax Service. According to him, it will be possible to more effectively control the movement of cash flows in the country and it will be easy to identify any user who has an electronic wallet, which means complete transparency of all transactions. And no one can create several accounts or disguise themselves in any way, each legal entity and individual can only have one e-wallet.

Experiments by Central banks in a number of countries with the national digital currency reveal unsolved problems: for example, the inability to control cross-border movements or the potential use of anonymizers that make it difficult to track payments. The fate of digital currencies, including the ruble, depends on whether regulators will be able to close these gaps.

Putin said that Russia should become a leader in the IT-sphere


This week, the largest state corporations distributed among themselves the themes of the national project Digital Economy. The Government event took place in the Kremlin on July 10, attended by President Vladimir Putin. This ceremony actually determined the future of Russia.

Agreements were signed at the ceremony between the Government and important Russian state corporations, such as Sberbank, Russian Railways, Rostelecom, etc., in the areas of "Artificial Intelligence", "Quantum Communications", "Wireless Communication of the New Generation", "Technologies for Creating New Materials and Substances", "Quantum Sensors", etc.

The Russian President shared his thoughts on the importance of developing IT-technologies. He is sure that “these directions, without any doubt, determine the economy of the future not only of our country but also of the world. Their use can provide a real breakthrough for Russia”.

“The global competition for the technology of the future has already developed. And our task is not to waste time, to do everything to become one of the leaders, to guarantee Russia technological sovereignty, a worthy place among the leading players in promising new markets, ” Vladimir Putin said.

World experience shows that the corporate sector provides up to 80% of successful research and development. In this situation, the Government can provide large companies with all the necessary assistance and support for the development of high-tech areas.

As a reminder, the Russian Government approved the national program "Digital economy" and allocated 1 trillion rubles (217 billions $) from the Federal budget for the implementation of the presidential task — in six years to triple domestic investment in the digital economy, to create a modern, safe and accessible to all IT-structure, to transfer state agencies mainly to Russian software. In other words, the Government decided to move from the category of countries with developing economies to the list of developed economies at the expense of IT-projects.