Decentralized finance: A payment system based on the digital ruble

Abstract

Subject. This article discusses the payment system based on the digital ruble in the concept of decentralized finance within the legislative framework of the Russian Federation. Objectives. The article aims to identify the optimal way to implement the payment system based on the digital ruble, and on this basis, present an optimal model of integration of the digital ruble into the blockchain network. Methods. For the study, we used logic, analysis and synthesis, induction and deduction, an object-oriented approach, and modeling. Results. Based on the analysis of consensus mechanisms and methods for integrating the digital ruble into the blockchain network and the legislative framework of the Russian Federation, the article forms and substantiates a scheme for integrating the digital ruble into the blockchain network. Within the framework of the proposed scheme, efficiency is achieved through the use of innovative information technologies in the field of finance based on the concept of decentralized finance. Conclusions and Relevance. The presented concept of integrating the mechanism of the digital ruble module into the Ethereum-based blockchain network is relevant, its implementation has maximum reliability, security and optimal transaction cost. This mechanism makes economic exchange and financial transactions a safe, efficient and prompt payment link in the DeFi ecosystem. The results of the study are intended for the Bank of Russia's projects implementation to introducte the digital ruble and develop decentralized applications.