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Применение stablecoins в качестве резервной валюты // Adaptation of stablecoins as the reserve currency

Author

Listed:
  • Ya. Kuznetsov

    (Financial University)

  • Я. Кузнецов

    (Финансовый университет)

Abstract

The article discusses the weaknesses of fiat reserve currencies and proposes modern Distributed Ledger Technologies as a way to lower transaction costs and promote digital payments for the public. Specifically, we concentrate on stablecoins, a particular category of cryptocurrencies, that are designed to maintain stability and to be used as a medium of exchange and store of value. The results allow concluding that tokens backed by commodities may be implemented in payments globally with minimum cost and processing time. Hence, it is a revolutionary solution to the existing international monetary issues. В статье рассматриваются слабые стороны фиатных резервных валют и предлагаются современные технологии распределенного реестра (DLT) как способ снижения транзакционных издержек и продвижения цифровых платежей для населения. Дана характеристика и оценка криптовалюте stablecoins, которая предназначена для поддержания стабильности и использования в качестве средства обмена и хранения стоимости. Результаты исследования позволяют сделать вывод, что токены, обеспеченные сырьевыми товарами, могут быть глобально реализованы в платежах с минимальными затратами и временем обработки.

Suggested Citation

  • Ya. Kuznetsov & Я. Кузнецов, 2019. "Применение stablecoins в качестве резервной валюты // Adaptation of stablecoins as the reserve currency," Review of Business and Economics Studies // Review of Business and Economics Studies, Финансовый Университет // Financial University, vol. 7(1), pages 57-61.
    • Handle: RePEc:scn:00rbes:y:2019:i:1:p:57-61
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    References listed on IDEAS

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    1. Mr. Ewe-Ghee Lim, 2007. "Do Reserve Portfolios Respond to Exchange Rate Changes Using a Portfolio Rebalancing Strategy? An Econometric Study Using COFER Data," IMF Working Papers 2007/293, International Monetary Fund.
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