Cryptocurrency As A Component Of The Digital Economy

Abstract

This article reveals the economic content of the cryptocurrency, which has recently become widely known and spread. The system of direct payments was a response to the global financial crisis, the consequences of which have shaken the financial system of many countries. The authors analyze the scientific achievements of foreign and domestic scientists, which allows to identify a number of advantages and disadvantages of the new currency based on information. Along with the technological superiority in this direction, there are still questions concerning methodological, methodological and legal components of the cryptocurrency. Bitcoin is characterized by decentralization: a special program code regulates the work of the network members, as well as the schedule of emission, which is limited in itself, because the generation of coins is closed and the number of PTSs is constant. The introduction of cryptocurrency has a number of other positive effects: irreversible transactions, low transfer fees, complete isolation of the currency from inflation, etc. At the same time, the cryptocurrency has negative consequences. For example, the inability to track remittances and the vulnerability of the system create the preconditions for illegal operations: money laundering, capital flight, terrorism, etc. Another negative feature of the cryptocurrency is its dependence on supply and demand. Thus, the legal status of the cryptocurrency in many countries, including Russia, is not fully defined due to its ambiguous attitude. However, it should be admitted that its appearance on the world market is a phenomenon that in theory can fundamentally change the existing financial system.