Digital Financial Assets as Innovations in International Settlements under External Constraints

Abstract

Digital financial assets are an innovative financial market tool that provides a wide range of opportunities for financial market participants to attract financing and invest on an alternative basis using a fintech platform in the absence of traditional financial intermediaries. In conditions of sanctions and external restrictions, when classical financial instruments cannot solve a number of tasks, digital financial assets with the properties of simplified document collection, low time and transaction costs become a new funding tool. The presented research is aimed at identifying the relationship between the use of distributed ledger technology and the emergence of tools that can become the basis for developing innovative solutions to pressing problems of the national economy that have emerged as a result of sanctions and restrictions. To this end, an analysis of the results of a survey of market experts on topical issues of distributed ledger technology during its implementation in the financial market and on the development of the digital financial assets market was carried out. The research uses methods of systematization, logical analysis, comparative analysis, synthesis, and survey. The result of the study was the identification of the positive effects of the use of distributed ledger technology and the potential of digital financial assets in solving the problems of cross-border settlements in the B2B format.