Subject. This article discusses the concept of a single-tier banking system, in which the central bank and a single State-owned bank are the main institutions. Objectives. The article aims to justify the necessity and advantages of implementing the mentioned model to enhance the transparency, stability, and efficiency of the banking system, as well as to strengthen public trust in financial institutions. Methods. For the study, I used economic and comparative analyses, a systems approach, as well as legal analysis and generalization. Results. The article finds that the existing two-tier system has a number of drawbacks, such as fragmentation, high operational costs, and vulnerability to crises, and it proposes a model for a single State-owned bank utilizing distributed ledger technology, smart contracts, and machine learning for transaction registration, automation of controls, and risk management. Conclusions and Relevance. The implementation of the proposed model is capable of enhancing the transparency and stability of the banking system, simplifying the mechanisms of monetary regulation, and strengthening public trust in financial institutions. The centralization of functions based on digital technologies and the implementation of public oversight mechanisms create the prerequisites for a qualitative change in the management of the banking sector and the sustainable development of the national economy. The results can be used in shaping State financial policy, developing strategies for the digital transformation of the banking system, and creating a regulatory framework for the implementation of digital financial technologies.
Keywords: currency, blockchain, artificial intelligence, bank, digitalization
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