The idea of the Bank of Russia on the introduction of a digital ruble a number of financial market experts perceived skeptical. The Association of Banks of Russia even released a report, which describes possible risks and cast doubt on the expediency of implementing such a tool. But the fair assessment of this initiative can be given, evaluating not only tactical tasks, but also the current evolutionary stage of Russian banking.
The market will figure it outA priori are more ways and payment options, the better it is more convenient to people. And it is fair that the regulator monitors compliance with competition, not allowing monopolization of access to financial services, and seeks to develop the market towards the greatest diversity and maximum customer access to tools. And although the regulator creates the conditions, all puts the market to its place. Comfortable, safe and favorable tools are in demand, ill-conceived solutions die over time. And in this sense, you should not be afraid of the emergence of new solutions. The ability to make a choice is always good.
Therefore, it categorically disagrees with the thesis of colleagues that the creation of a digital currency can stop the innovative development of the industry. Rather, on the contrary, its introduction is the evolutionary development of the industry. As, for example, the transition to virtual cards and various solutions such as Apple Pay, Google Pay, etc. Pushes out traditional plastic. This is a natural course of things.
Become more transparentMany financiers confuse that wallets with digital rubles will be opened directly in the Bank of Russia. Prepress the outflow of funds from the balance sheets of credit institutions. This, according to critics, turns the Central Bank from the regulator to the market participant and the operator of the digital ruble platform.
However, if you look at the market and those participants who are now working on the model of electronic wallets with their quality identification quality, the translation of this segment under the control of the Central Bank only will increase transparency of operations and guarantees for the holders of these wallets.
I suppose individual market participants who use wallets for half-nuclear payments for gambling, will not be very pleased with such regulation. However, most clients are transparency only plus, as it will allow to defend their rights and return lost money. Let me remind you that now with unreasonable or fraudulent write-offs from the half-nosed wallets, it is almost impossible to return money. Semi-alone, since, despite the requirement to conduct identification, in some cases it is carried out formally. And the user wallet can be another person whose data were illegally used to open a wallet on it.
A very controversial and approval of critics about a possible outflow of customer funds from bank accounts. Such a statement does not take into account the preferences of various target audiences, as well as the fact that the digital ruble is not a deposit product, that is, it will not be income.
It should be borne in mind that traditional niches in which they are presented to the development of banks. For example, if the Bank's model is not built on state employees, and the Bank itself works to the market, it competes from the service and program of loyalty, tool spectrum. Market banks will have more opportunities if the Central Bank, as a platform operator, a digital ruble platform and does not possess its own infrastructure in the form of an equaliating, ATMs or terminals, will offer banks interesting conditions for cash withdrawal or operations on such wallet.
Think about goodSummarizing everything said: Evolution does not ask permission, the whole world moves towards digital currencies of central banks. And not to go now in this direction - it means to fall behind in development. And therefore, in my opinion, on the part of the participants of the financial market, it would be more correct not to question the feasibility of the project, but consider what is necessary for its promotion, what conditions are needed by banks. And also which preferences are needed to clients to increase interest in digital ruble, especially if interest and bonuses are not accrued for such wallets, as card operations, or there will be no possibility of paying various services without commissions, as in the wallets of bank operators of large terminal networks.
Digital currency requires competitive advantages. And they come up with quite possible, the more the formed free remnants will allow you to finance it.
The author's opinion may not coincide with the position of the VTIMES edition.