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CryptoRuble: From Russia with Love

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  • Zura Kakushadze
  • Jim Kyung-Soo Liew

Abstract

A large number of decentralized cryptocurrencies has emerged since the inception of Bitcoin in 2009, with a total market size exceeding $170bn. Recent reports suggest that Russia will issue its government-backed cryptocurrency, CryptoRuble, in the middle of 2019. Russia’s primary goal in issuing a government cryptocurrency is to free its monetary system from the controls exerted by the Federal Reserve and their allied central banks. Government-issued cryptocurrencies will increase: Large sovereign states have the technological know-how and means to do this, but small and/or developing countries may be forced to outsource issuance of their government-backed cryptocurrencies to larger states.

Suggested Citation

  • Zura Kakushadze & Jim Kyung-Soo Liew, 2018. "CryptoRuble: From Russia with Love," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 19(4), pages 165-188, October.
    • Handle: RePEc:wej:wldecn:728
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    Cited by:

    1. Zura Kakushadze & Jim Kyung-Soo Liew, 2020. "Coronavirus: Case for Digital Money?," Papers 2005.10154, arXiv.org.
    2. Qin, Meng & Su, Chi-Wei & Tao, Ran, 2021. "BitCoin: A new basket for eggs?," Economic Modelling, Elsevier, vol. 94(C), pages 896-907.
    3. Zura Kakushadze & Willie Yu, 2019. "iCurrency?," Papers 1911.01272, arXiv.org, revised Nov 2019.
    4. Zura Kakushadze & Ronald P. Russo Jr, 2018. "Blockchain: Data Malls, Coin Economies and Keyless Payments," Papers 1802.07422, arXiv.org, revised Apr 2018.

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