Peculiarities of using digital ruble in bank settlements
The digital ruble, created by the Central Bank of Russia, is an innovative form of national currency available in electronic form. The analog of the traditional ruble promises to change the ways of settlements in the banking sector. This article discusses key aspects of using the digital ruble in ba...
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| Format: | Article |
| Language: | Russian |
| Published: |
Russian Academy of Entrepreneurship
2023-11-01
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| Series: | Путеводитель предпринимателя |
| Subjects: | |
| Online Access: | https://www.pp-mag.ru/jour/article/view/1813 |
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| author | I. S. Paramonov A. V. Rusavskaya |
| author_facet | I. S. Paramonov A. V. Rusavskaya |
| author_sort | I. S. Paramonov |
| collection | DOAJ |
| description | The digital ruble, created by the Central Bank of Russia, is an innovative form of national currency available in electronic form. The analog of the traditional ruble promises to change the ways of settlements in the banking sector. This article discusses key aspects of using the digital ruble in bank settlements. Key topics include fast and inexpensive transactions, transparency and security of transactions, integration with modern financial instruments, creation of loyalty programs and improved accessibility of services. Potential challenges and issues related to the introduction of this innovation into the financial system are also discussed. The use of the digital ruble in bank settlements opens up prospects for more efficient and flexible financial transactions in today’s world. It can help simplify settlements between countries and reduce currency exchange costs. In addition, the digital ruble can become an alternative to traditional currencies in international transactions. Also, the digital ruble can be used to create decentralized applications and services that will work without the participation of intermediaries. This will speed up the process of developing and implementing new technologies. Finally, the use of the digital ruble can increase the transparency of financial transactions and reduce fraud risks. |
| format | Article |
| id | doaj-art-6bac10d7eb4d4beda4b3a579d4487ae1 |
| institution | Kabale University |
| issn | 2073-9885 2687-136X |
| language | Russian |
| publishDate | 2023-11-01 |
| publisher | Russian Academy of Entrepreneurship |
| record_format | Article |
| series | Путеводитель предпринимателя |
| spelling | doaj-art-6bac10d7eb4d4beda4b3a579d4487ae12025-08-20T03:59:00ZrusRussian Academy of EntrepreneurshipПутеводитель предпринимателя2073-98852687-136X2023-11-01164253010.24182/2073-9885-2023-16-4-25-301665Peculiarities of using digital ruble in bank settlementsI. S. Paramonov0A. V. Rusavskaya1Institute of Social SciencesRussian Academy of EntrepreneurshipThe digital ruble, created by the Central Bank of Russia, is an innovative form of national currency available in electronic form. The analog of the traditional ruble promises to change the ways of settlements in the banking sector. This article discusses key aspects of using the digital ruble in bank settlements. Key topics include fast and inexpensive transactions, transparency and security of transactions, integration with modern financial instruments, creation of loyalty programs and improved accessibility of services. Potential challenges and issues related to the introduction of this innovation into the financial system are also discussed. The use of the digital ruble in bank settlements opens up prospects for more efficient and flexible financial transactions in today’s world. It can help simplify settlements between countries and reduce currency exchange costs. In addition, the digital ruble can become an alternative to traditional currencies in international transactions. Also, the digital ruble can be used to create decentralized applications and services that will work without the participation of intermediaries. This will speed up the process of developing and implementing new technologies. Finally, the use of the digital ruble can increase the transparency of financial transactions and reduce fraud risks.https://www.pp-mag.ru/jour/article/view/1813digital rublebank settlementselectronic paymentsfinancial innovationsblockchain technologytransparencysecurityscalabilitycybersecuritycentral bank of russiacurrency issuefinancial technologyavailability of servicesregulationnational currency |
| spellingShingle | I. S. Paramonov A. V. Rusavskaya Peculiarities of using digital ruble in bank settlements Путеводитель предпринимателя digital ruble bank settlements electronic payments financial innovations blockchain technology transparency security scalability cybersecurity central bank of russia currency issue financial technology availability of services regulation national currency |
| title | Peculiarities of using digital ruble in bank settlements |
| title_full | Peculiarities of using digital ruble in bank settlements |
| title_fullStr | Peculiarities of using digital ruble in bank settlements |
| title_full_unstemmed | Peculiarities of using digital ruble in bank settlements |
| title_short | Peculiarities of using digital ruble in bank settlements |
| title_sort | peculiarities of using digital ruble in bank settlements |
| topic | digital ruble bank settlements electronic payments financial innovations blockchain technology transparency security scalability cybersecurity central bank of russia currency issue financial technology availability of services regulation national currency |
| url | https://www.pp-mag.ru/jour/article/view/1813 |
| work_keys_str_mv | AT isparamonov peculiaritiesofusingdigitalrubleinbanksettlements AT avrusavskaya peculiaritiesofusingdigitalrubleinbanksettlements |