WORLD EXPERIENCE OF DEVELOPMENT OF DIGITAL CURRENCIES OF CENTRAL BANKS AND ITS IMPLEMENTATION IN UKRAINE
Abstract
Based on the results of research, the essence and role of the introduction of CBDC for the country's economy are determined, its advantages for use by market participants are described. The countries where CBDC projects are implemented, piloted or researched are studied. A retrospective analysis of the implementation of CBDC by central banks was conducted and it was substantiated that CBDC has the potential for synergy with private payment decisions and creating a positive contribution to the formation of innovative, competitive and sustainable payment system in different regions. The peculiarities of CBDC design formats are revealed and the distinctive features of retail and wholesale (interbank) versions of CBDC are reflected, the reasons for their issue and use are reflected. The specifics of direct, hybrid and indirect retail CBDC are interpreted. It is determined that Ukraine is in the top 10 retail CBDCs according to the Global Index, which takes into account the progress of central banks, the position on the development of CBDC and public interest in use, compared to other countries. Based on the generalization and analysis of works, E-hryvnia drivers have been installed in Ukraine. It was identified that the introduction of CBDC in Ukraine will significantly complicate the work of commercial banks and will require radical changes in the implementation of innovative compatible products. Based on the results of the study of successful global experience of CBDC implementation by central banks, key focuses are proposed and a description of changes in the introduction of "E-hryvnia" in Ukraine. It is established that the introduction of CBDC in Ukraine will be a catalyst for payment efficiency and will be an additional alternative to the current money model from an operational and technological point of view. Taking into account the world experience, the main risks of CBDC introduction in Ukraine are given and relevant measures for their leveling are interpreted.
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