UKRAINIAN CBDC E-HRYVNYA: CHALLENGES OF INTRODUCTION AND OPPORTUNITIES TO IMPROVE THE EFFICIENCY OF BUSINESS PROCESSES IN COMMERCIAL BANKS

Topicality. This paper explores the implementation of a CBDC and its potential benefits and challenges. With the rapid growth of cryptocurrencies and their increasing usage by consumers, central banks face the need to address the evolving landscape of digital transactions. The research explores the connection between the CBDC and business processes in the Ukrainian economy.Aim and tasks. Main purpose of this paper is to investigate the issues related to the potential impact of introducing the e-hryvnia on business processes occurring in the Ukrainian commercial banks as well as suggest some indicators that could be used to evaluate the efficiency of e-hryvnya implementation.Materials and Methods. The paper uses comparative analysis of potential approaches for implementing a CBDC. It discusses the advantages and disadvantages of the authoritarian and democratic approaches, analyzing their implications for monetary control and user adoption. The paper proposes several indicators and metrics to assess the success and efficiency of CBDC implementation.Research results. There are two main ways to implement a CBDC to achieve widespread adoption. Authoritarian, which means strengthening the administrative levers of the state and weakening monetary control, and democratic, which will allow strengthening the possibilities of monetary policy. It is the democratic one that is more suitable for Ukraine. The effectiveness of the introduction of the CBDC can be assessed by the indicators of the distribution of the e-hryvnia and the increase in the efficiency of business processes in commercial banks.Conclusion. This research advocates for a democratic approach to CBDC implementation, emphasizing the need for attractiveness, user anonymity, and enhanced monetary policy possibilities. The proposed indicators and analysis framework provide a means to assess the success of CBDC adoption. Collaboration between central banks and commercial banks is also emphasized to ensure seamless integration and maximize the potential benefits of CBDC.