On the prospects of cryptocurrencies in the global monetary system

Abstract

The article is devoted to the research of the current state and prospects of digital assets (cryptocurrencies) in the global financial system. Despite the controversial history of development, the process of acceptance of crypto assets at the level of state regulators continues. It seems that, to one degree or another, the algorithmic and technological advantages of cryptocurrencies will be used to reduce transaction costs of the economy. However, their legitimization will be associated with a gradual rejection of anonymity and increased state control. The advantages, disadvantages, risks and prospects of blockchain technology for the implementation of monetary settlements are considered.