Национальная криптовалюта: шаг за шагом. Как сделать ее привлекательной?

Russia in Global Affairs. 2018. № 1. С. 103–114.

Molodyko K.

National currency is needed for the following reasons. On the one hand, the world monetary circulation  of the fiat currency is in a dead end, and there is huge demand for alternatives to fiat money with no  disadvantages of the latter. That is, for new currencies, having  features: full commodity security; protection from inflationary depreciation; 100 percent cash reserves against bank demand deposit liabilities, that is, a total prohibition of increase monetary aggregates by credit institutions through a multiplier; recognition of the account beneficiary  property right for all  funds in the account, fixing this right in the distributed registry on a decentralized basis; removal of the risk of savings loss by prohibiting financial institutions to the use  client money in own operations of the former and operations of  other clients; free transfer between cash and non-cash form; refusal of absurd rules of financial monitoring. From the supply side, competently designed  pool of national cryptocurrencies is a way of attracting financing in conditions of sanctions, promoting commodity exports, and also strengthening regional economic integration.

Keywords: property rights, право собственности, товарные деньги, экономическая интеграция, economic integration, Export promotion, развитие экспорта, economic sanctions, экономические санкции, cryptocurrency, криптовалюта, representative money