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.