In Russia, at different levels, there is talk of the possibility of introducing a digital ruble. At the same time, it will not be the same as electronic or non-cash money. Economist Konstantin Dvinsky wrote about the need for such a measure in his Telegram channel.
An important goal of the digital ruble will be the use of allocated funds for specific purposes – that is, it will not be possible to spend them in any other way. Thus, it will be possible to largely defeat corruption and the withdrawal of money “to the left”.
In addition, with the help of the digital ruble, the state will be able to issue with less loss. According to some experts, printing money leads to inflation, as their volume in the economy increases and prices rise. However, this is not always the case in practice, and the example of China and other countries disproves this approach.
Realizing the problem via the digital ruble will reduce the probability of inflation to almost zero.
Along with this, the introduction of the digital ruble rules out the use of commercial banks as a link between the Central Bank and the real sector. Banks will only become operators of funds and will not be able to use them for the purpose of lending at high rates. Loans will therefore be made through the Central Bank at a percentage equal to the key rate.
The digital ruble is a chance for a significant reformatting of the financial sector, the transition from a speculative financial model to one that ensures the development of the entire economy
- says Dvinsky.
Photos used: Photobank Moscow-Live/flickr.com
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