Concept of the сryptoruble market formation in Russia

DOI

10.2991/sicni-18.2019.25How to use a DOI?

Keywords

cryptocurrency, blockchain, bitcoin, cryptoruble, cryptoshares, cryptomoney

Abstract

The subject of this study is the economic relations arising during the cryptocurrency market formation on the basis of the national banking network. The purpose of the study is to analyze the use of various cryptocurrency technologies, identify problems and develop proposals for the organization of the cryptoruble market in Russia.The methodological basis of this study consists of such methods of scientific research as analysis and synthesis, induction and deduction, grouping and comparison, detailing and generalization, systematization and classification Main results: 1. The author’s classification of crypto-money, which allows to systematize the approaches to the formation of cryptocurrency markets, has been carried out. 2. The technologies underlying cryptocurrency functioning were studied. Various payment methods using cryptoruble are proposed such as personal identification, e-wallet, electronic deposit (cryptodeposit) using a unique number and a password to use. 3. A typology of cryptocurrency emissions is presented. 4. Steps to create a national crypto network were proposed; 5. The author's approach to the formation of a crypto-ruble market in Russia is developed. The peculiarities of the proposed monetary system is a cryptoruble provided by the government of the Russian Federation with energy resources of the country, each cryptoruble unit has its own unique account number using the blockchain technology, which allows to control the movement of crypto money. The institutional support of the cryptoruble market includes the central bank, commercial or crypto-banks, a crypto-exchange, the federal tax service, data centers, various users. Key findings of the study: 1. Cryptocurrency management approachesare systematized 2. An algorithm for creating a cryptoruble market based on a central bank hybrid network has been proposed.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Michail Loginov
AU  - Vasily Tatyannikov
AU  - Nadezhda Sobina
PY  - 2019/01
DA  - 2019/01
TI  - Concept of the сryptoruble market formation in Russia
BT  - Proceedings of the 2nd International Scientific conference on New Industrialization: Global, national, regional dimension (SICNI 2018)
PB  - Atlantis Press
SP  - 124
EP  - 128
SN  - 2352-5398
UR  - https://doi.org/10.2991/sicni-18.2019.25
DO  - 10.2991/sicni-18.2019.25
ID  - Loginov2019/01
ER  -