Trends in the Digitalization of the Monetary Sphere of the Russian Economy

Abstract

Payment systems in modern conditions are undergoing a significant transformation, which is objective due to the progress of information and computer technologies. In this regard, the purpose of the work was to study the main directions and trends of digitalization of the monetary sphere of the economy based on statistical and expert methods, as well as using vertical and horizontal analysis techniques. The author analyzes the changes in the money supply, which allowed us to establish an increase in the share of non-cash funds in it both in domestic money turnover and in the economy of developed countries. The structure and dynamics of transactions with payment cards are considered, reflecting the growth in the number and volume of transactions of the population and legal entities with their help. The types of electronic money systems and the scope of their use in calculations are characterized. The specific features of the functioning of cryptocurrencies and the leaders of the corresponding segment of the money market are revealed. The advantages and disadvantages of the central bank digital currency and the prospects for its issuance in the Russian Federation and abroad are studied. The study of changes in the monetary and payment turnover of the domestic and world economy made it possible for the author to establish the objectivity of the processes taking place, as well as the correspondence of the state of the monetary sphere to the needs of users and the requirement of economic development.