Аргументовано різний підхід ЄС до правового статусу криптовалют – одні країни визнали доцільність їх використання та працюють над створенням законодавчої бази, яка закріплює правовий статус віртуальних валют, а інші країни відмовляються від криптовалют та забороняють їх обіг. Пропонувалося розробити окремий законопроект із залученням активної частини криптовалютної спільноти, який містив би положення про визначення криптовалюти як валюти, відмову від бартерного характеру криптовалюти, встановлення Національного банку України як головного регулятора таких відносин, відмова від обмеження придбання криптовалюти лише в спеціалізованих фінансових регуляторах через можливі корупційні ризики, встановлення порядку ліцензування та проведення процедур AML та KYC, прогнозування реальних практичних кроків щодо запровадження пільгової системи оподаткування видобутку корисних копалин з подальшим внесенням змін до податкового законодавства.
Currently, a large range of opinions exists regarding the appropriate classification and regulation of cryptocurrency. From the legal perspective, some suggest that cryptocurrency investments are too speculative. As a result of this, it is suggested that cryptocurrency should be more heavily regulated. This would be done to prevent speculators from losing vast wealth. Other legal analysts suggest that an increasing cryptocurrency regulation would have a detrimental effect on the state of cryptocurrency, and its use would cause long-term problems. From the accounting perspective, opinions vary. Some suggest an accounting classification that would make cryptocurrency cash equivalents; others suggest an accounting classification that would render cryptocurrency an intangible asset with an indefinite useful life. The “big 4” accounting firms that include Deloitte, PricewaterhouseCoopers, Ernst and Young, and KPMG recommend that cryptocurrency should be classified as an intangible asset with an indefinite useful life. However, other companies currently using cryptocurrency through the general operations of the business have decided to classify it differently. The legal perspectives and the accounting perspectives will be analyzed to determine appropriate regulations for cryptocurrency and an appropriate classification for cryptocurrency. The results will show that cryptocurrency should be classified as an intangible asset with an indefinite useful life for accounting purposes and as property for tax purposes.
Relevance. In modern conditions of integration with the EU countries, the regulatory framework of the socio-economic development of the regions of Ukraine is supplemented from the standpoint of decentralization of local authorities in accordance with European requirements for reforming the domestic economy. The main reasons for improving regional management, taking into account the experience of developed countries of the world, are: unsatisfactory level of financial support for the regions of Ukraine; improper delineation of administrative-territorial powers; unproductive distribution and redistribution of income and expenses between the state and regions; imperfect management of the processes of formation and use of financial resources at the local level. All this makes the balanced development of both the regions of Ukraine and territorial communities, the main subject of socio-economic progress of a certain territory, virtually impossible.Goal and tasks. Identification of challenges and threats to stimulate the socio-economic development of regions on the basis of financial decentralization.Results. The article presents the results of a theoretical and practical study of the process of stimulating the socio-economic development of the regions of Ukraine based on financial decentralization. The most significant problems of socio-economic development of Ukraine are identified. The role of state regional policy in solving these problems is revealed. The role of decentralization as a factor in regional development is substantiated. The essence of the concept of "decentralization" and its types is revealed, its mission is indicated. The results of observations of the processes of financial decentralization of local governments and territorial communities are presented. Positive changes and threats were identified regarding the stimulation of the socio-economic development of the regions based on financial decentralization.Findings. The financial decentralization of power has created new opportunities for the development of territories through new approaches to financing and managing the areas of community life (education and health), increasing the sources of local budgets, expanding the managerial powers of local governments and opportunities for publicprivate and inter-municipal partnerships, increasing the volume of supporting the implementation of projects of socio-economic and infrastructural development of territories. However, the issues of relations between such levels as the territorial community – district – region – state; financing of territorial development programs. The issue of economic self-sufficiency of territorial communities is not considered, which could, provided the rational use of the resource base, strengthen it and improve the financial situation. Consequently, the development of a territorial community at the local level is possible only if the correct state policy and the policy of local authorities based on financial decentralization are formed.
In this paper, we deal with comparative analysis of cryptocurrency wallets and traditional wallets. In addition to security analysis, we will observe the most important elements that should ensure a high level of social acceptability. In that regard, we will make a brief overview of the existing mechanisms for disposing a funds expressed in traditional currencies as well as for crypto currencies. Under the traditional safe keeping mechanisms and the disposal of cash, we will consider systems based on payment cards, payment by cash and payments over the internet. The use of digital wallets is reflected in various characteristics. The convenience of using the ability to execute a mobile phone transaction in matter of seconds. Efficiency is reflected in the speed of transaction execution. This paper describes the current state of digital wallets on the market, the choices of a better solution for purchasing and using digital wallets, security of digital wallets and future trends in their development.
The research is aimed at substantiating, defining and systematizing the theoretical and methodological basis for the formation of the fiscal space for the local self-government in the conditions of decentralization of public finance. The interrelation of principles of decentralization of the State power and the provision of fiscal independence of local self-government is defined. The article determines the desirability of supplementing the system of basic and key provisions presented in the studies on the redistribution of authorities in the financial sphere and the expansion of fiscal space in the context of of decentralization of the State power and the provision of fiscal independence of local self-government. The author’s own hypothesis concerning formation of the theoretical and methodological basis for the expansion of the fiscal space for the local self-government in conditions of financial decentralization is formulated. The main elements of the theoretical and methodological basis for the expansion of the fiscal space for the local self-government, characterizing the key issues and contradictions, which are manifested in the context of the implemented process of expansion of the fiscal space, the solution of which requires scientific substantiation and practical elaboration, are defined.
Since 2009, more than 1600 cryptocurrencies have entered into circulation. The rapid development of the cryptocurrency market has raised questions about whether cryptocurrencies will challenge the existing order of traditional financial institutions. Opinion remains divided. Some commentators predict that they will cause massive disruptions to the current financial system. Others claim that they are unlikely to represent the “future of money”. Opponents have expressed concern over the association between cryptocurrencies and serious crimes, resemblance to Ponzi-schemes and the increasing incidence of crypto-scams. Supporters advocate that they offer a revolutionary system of payment, an alternative investment method or an alternative means of raising funds. The legal treatment of cryptocurrencies is, however, one of the most decisive factors that will determine their future. Currently, there is no governmental consensus on how, or if, cryptocurrencies should be regulated. Some governments are issuing outright bans on specific cryptocurrency activity; others are taking positive steps by introducing legislation to legitimize their use; the remainder are undecided whether to act or not. The methodology adopted in this research is a simple SWOT analysis to assess the durability and competitive positioning of cryptocurrencies. This chapter concludes that cryptocurrencies will cause disruptions to the future of money. It is expected that they will become a permanent new institution; however, they will be far more advanced than the current generation, be heavily governed by regulation and are likely to be state-issued.
Maryna Dubinina, Svitlana Syrtseva, О. В. Буганов, N. Tusova
Introduction. Due to the rapid development of computer technology, their active implementation in all spheres of life, people began to solve everyday problems much faster. IT-technology is one of the most relevant branches of science at the modern stage of development of society, because today every company keeps records of its activities using computers. \n \nThus, in the future, the accounting sector is expected to undergo major changes, because the technology “Вlockchain” is actively implemented in the financial sector of the country. The investigated platform has an important property for accounting work, because the information created in this database can be trusted, even if there is no trust in the counterparty. The transaction is carried out only if it is approved by both parties. \n \nPurpose. The purpose of the article is to substantiate the feasibility of implementing Blockchain technology in accounting. \n \nResults. Proponents of technology believe that the new tool will be able to replace not only accountants, but also banking institutions and many financial intermediaries. According to the Blockchain Research Institute, Ukraine is included in the list of 14 countries which were recognized as leaders in the implementation of Blockchain. However, the state has to restructure huge systems with a large number of people to use this tool. It is also necessary to prepare legislation properly and take into account the fact that high energy costs are needed to support technology. \n \nThe technology aims to put an end to the traditional methods of invoicing, documentation, processing, registration, inventory systems and business payment. Вlockchain allows companies to record both sides of the transaction simultaneously in a shared workbook in real time and not store the reconciled entries of financial transactions in separate private created databases y or for the account books. The need for traditional double-entry accounting will be eliminated, as the verification of the legality of accounting will be fully automated. \n \nConclusions. Directions of use of technology in accounting require, first of all, proper preparation of legislation. Taking into account the prospects of using this tool, we can assume that the Blockchain will be used in Ukraine in 10-15 years and only when the national legislation is adapted to the new realities of the use of information technologies.
The article deals with ontological aspects of cryptocurrency, its classification characteristics and types. The questions related to the creation of a new instrument of monetary policy are studied. The authors carry out analysis of foreign and domestic scientific papers, international and state regulatory documents linked with cryptocurrencies. The study reveals the distinctive features of cryptocurrency from the concepts of ‘digital currency’ and ‘virtual currency’, as well as historical stages of their development.The authors describe characteristics of three main communication elements between the participants of operations with cryptocurrencies. The article discloses the model of decentralized digital currency schemes and their main characteristics. The paper presents the analysis of normative documents regulating the turnover of cryptocurrency in Ukraine and considers the problems of displaying transactions with cryptocurrencies in the accounting.The authors investigate the problems of cryptocurrency’s use as a full-fledged currency in contemporary economic conditions, in particular, the absence of a centralized cryptocurrency emission institutions, circulation control, transaction anonymity and insufficient of high liquidity, as well as substantial short-term leaps in its value.According to the results of the study the authors propose approaches of book-keeping for transactions with cryptocurrency in accounting for companies in Ukraine depending on the purpose of their use (purchase of a web-purse for operations with cryptocurrency, purch
The subject matter of the article is the substantiation of the problems and perspectives of the introduction of Distributed Ledger Technologies (DLT) / Blockchain in the public and private sectors as a modern digital economy instrument. The goal of the work is to substantiate the scientific and methodical principles of implementing the technologies of distributed DLT / Blockchain registers. The following tasks were solved in the article: the notion of Distributed Ledger Technologies (DLT) and Blockchain is defined; types of Distributed DLT Registries are presented in the form of a classification with a distinction of features and possibilities of application of each type; the general scheme of work is described and the specific features of the Blockchain technology are systematized;the features and directions of the use of intelligent contracts (smart contracts) based on the technology of blockchain are singled out;the international experience of government initiatives and pilot projects of the blockade technology application has been analyzed; the analysis of the domestic experience of practical application of Blockchain technologies in the public and private sectors and the perspective areas for the future application of technologies of the distributed DLT registries are identified; according to the international analytical agencies research results, the obstacles of the Blockchain technologies implementation in the public and private sectors are systematized. The following methods are used: abstract-logical analysis, theoretical generalization, system and statistical analysis. The following results were obtained. The concept of technologies of distributed DLT / Blockchain registries is disclosed. The availability of the system is based on open, private and federal DLTs. The specific features of DLT / Blockchain distributed registry technologies include centralization, involvement of a large number of participants to achieve consensus, use of cryptography and digital signatures, almost impossible to change chronological records, the convenience of tracking and verifying information, and the ability to program. The international experience of using Blockchain technology in countries such as the Great Britain, Georgia, Estonia, the USA, the United Arab Emirates, Italy has been researched. Examples of practical implementation of DLT / Blockchain registry technology in Ukraine are considered. The main obstacles to implementing distributed DLT / Blockchain registries in the public sector are regulatory restrictions and technology immaturity. The obstacles to the introduction of block technologies in the private sector are identified. Conclusions: It is proved that the distributed DLT registry technology has a significant potential for development for the future digital economy. Nevertheless, there are a number of barriers to their full use in the public and private sector, which requires further study by experts.
Digital marketing is any form of advertising, which utilizes digital mediums to offer goods or services to customers. Therefore, the businesses utilizing the internet for the promotions of their products and services, they are engaged in digital marketing. As we know that nowadays, no company can get success without digital marketing. As all of us recognize, the marketing industry is pretty dynamic and liable to change. By its very nature, it has to evolve to new technologies and consumer wishes. And now, we have a large alternate on the horizon that promises to shake up the advertising enterprise from top to bottom, along with several other industries as properly. We’re talking about the Blockchain. The technology has already made a few critical waves within the economic international. This article is an attempt to explain the role and impact of Blockchain in the digital marketing industry.
The article identifies gaps in the legal regulation of Kiptocurrency status. The state of legislative regulation of cryptocurrency turnover in Ukraine is considered. The possibility of using cryptocurrency is considered in the economic activities of business entities, namely, making it into the authorized capital. The analysis of modern and foreign experience is given for example. On its basis, the solution of this problem is proposed.
I. A. Chykarenko, O. O. Chykarenko, А. S. Ushakova
The article identifies the factors, which determine the need for strategic planning of local development in a context of decentralization, namely: reforms or dynamic changes that are taking place today in all spheres of socio-economic and political life in Ukraine; reorientation to new management models due to the need for clear goal-setting and development of projects and programs for achieving goals; amalgamation of communities puts forward the need to create a methodological basis for the independent decision-making on a strategic choice of ways of development, etc. The research is based on the experience of designing and implementing strategies and projects for the development of the amalgamated territorial communities of Dnipropetrovs’k Oblast in which the authors of the publication participated as expert-consultants. The role and specific features of the strategic development management process of the amalgamated territorial communities are described. The corresponding principles of management of the implementation of the strategy of development of the amalgamated territorial community (in particular, providing a meaningful relationship between the strategy and other planning documents; timeliness and prevention; personal responsibility; openness and transparency for the public; current scientific and communication support for the implementation of the strategy; etc.) as well as the role of certain processes and functions in managing the implementation of the strategy are substantiated. The paper shows the importance of the multi-level system of personal responsibility for implementation of strategic priorities - from carrying out of each project from the corresponding portfolio of projects of strategic priorities implementation to responsibility for implementation of the strategy as a whole. In order to ensure efficient management of the strategy implementation, a separate authorized body - Strategy Implementation Management Committee (SIMC) - is suggested to be formed. The functions of the SIMC in the amalgamated territorial communities, which differ in content from the functions of other authorized bodies (working group, strategic committee, etc.) traditionally created to manage the implementation of the strategy of local (regional) development are described. It is grounded the necessity of monitoring and adjusting of certain parameters of the strategy (goals, set of projects, financing, terms of implementation, executors, and expected results, etc.) in case of changes, for example, external environment, loss of relevance of certain strategic or operational goals (projects) or, conversely, new goals (projects), etc. An algorithm for making changes to the strategy summary document is described.
The Industry 4.0 concept describes a decentralized production chain that extends from design to the supply chain, production, distribution as well as customer service. Cyber Physical Systems (CPS) employ software and internet-connected machines that communicate in real-time to reduce error rates and increase efficiency. The basis is the co-operation of separate control units that are capable of autonomous decision-making, managing the assigned technological unit and in particular becoming an independent and full member of comprehensive production units. The Industry 4.0 concept requires continuous innovation and education that not only depends on the peoples’ skills but also on organizational culture. Appropriate managerial approaches play a vital role in the development of organizational culture. Most studies discuss technical aspects, but do not pay attention to managerial approaches and organizational culture, which are a major factor influencing the success of this concept. The aim of the paper is to examine the level of organizational culture in the Czech Republic and to seek appropriate managerial approaches for the development of organizational culture that can support the environment for innovation in the organization and therefore facilitate the entrepreneurship in the Industry 4.0 concept. A partial goal will be, among other things, to identify the implications of Industry 4.0 for human resources. In order to determine organizational culture in organizations, a large study was carried out in the form of a questionnaire survey − the Czech translation of Wallach᾽s Questionnaire (1983). According to the findings, the respondents perceive the organizational culture in the organizations under review is more bureaucratic and supportive than innovative. In their view the signs of innovative culture are not so striking. It is necessary to change managerial approaches to support innovative solutions.
The modern stage of the evolution of money is associated with the development of virtual economy as part of the global economic system based on interactive business on the ground of information technologies. The development of new forms of money is due to the activation and deepening of the information sphere and information society. Due to such conditions and the impact of technological innovation, economic science acquires a new meaning; significant changes take place in all spheres of economic activity, including the financial sector. The manifestation of such changes is the transfer of transactions into the electronic format, the emergence of new means of payment, the latest payment instruments and systems. The paper considers the main features of cryptocurrencies, with attention to the most popular and widespread of them - Bitcoin. Based on the expert survey and literature, the attitude of the central banks of foreign countries and the National Bank of Kazakhstan regarding the recognition and regulation of cryptocurrency have been analyzed, and conclusions about the prospects for using cryptocurrency in Kazakhstan have been made.
Doctor of legal sciences, V.M. PASHKOV, Associate professor
The implementation of the health care reform in Ukraine is accompanied by the introduction of new technologies. The use of 3-D technologies in medicine can serve as an example thereof. Although, some innovations provide only the implementation of such technologies in the long run. Thus, the adoption of the Laws of Ukraine "On electronic documents and electronic document circulation", "On State Financial Guarantees of Medical Care of the Population" was a prerequisite for the adoption of the Order of the Ministry of Health of Ukraine "On Amendments to the Order of the Ministry of Health of Ukraine of 19 July 2005 No. 360," as of April 18, 2018, No. 735. In our opinion, the main novelty of this act is an introduction of "electronic recipe", issued under the same rules as the usual recipes by authorized person in the information (information and telecommunication) system of the business entity and signed with an electronic digital signature using the enhanced certificate of a public key via reliable electronic digital signature. At the same time, the business entity is free to decide on using of electronic prescriptions, except when the requirements for mandatory electronic prescription are specified by law. With the consent of the patient, the business entity may provide additional services related to the electronic recipe (recipe notification via mobile phone, e-mail, etc.). For example, medical institutions have to register a declaration between a patient and chosen medical institution (a doctor), and such information allows the National Health Service to keep records for the further financing of such medical facilities. And block-chain could be used to display such information, simultaneously simplifying the process since collecting and sharing of such information is automated and timely. In addition, block-chain is used in the healthcare sector in order to deliver high quality and effective medicines to patients. Some researchers believe that global pharmaceutical supply chains are complex and work with outdated platforms that do not provide effective partner collaboration in complying with regulatory guidelines, so that they cannot guarantee the security of medecines distribution. In this sense, according to experts, block-chain is a decentralized platform for transactions between equal partners in a secure environment protected from unauthorized access. This technology allows to safely performing homogeneous operations with information without intermediaries in displaying all transaction data. The above means that the benefit of using the block-chain system in healthcare is not in doubt, but there is a problem of legal support for such an innovation, and not only in health care, but also in general. Theoretical problems of legal regulation in healthcare and patients’ rights protection attract the attention of many scholars. They were researched, in particular, by R.A. Maydanyk, I.Ya. Senyuta, Z.S. Hladun, I.O Bohomazova, Ye.A. Hriekov, A.O. Harkusha, and others. However, the peculiarities of digital technologies’ use and the use of block-chain in particular has remained unscathed by scolars and medical law specialists. The purpose of this study is to analyze the potential impact of block-chain technology on healthcare, its legal nature and the possibility of legal protection of patients’ rights in the block-chain system. The author of the research used scientific publications of leading experts in the field of medical law, current and prospective Ukrainian legislation. The research is based on an organic combination of general scientific and special-legal research methods. From the experts’ point of view, the block-chain could be used at least in the following spheres. Firstly: as an instrument of patients’ data storage. Till now, for example vaccination records (and almost all medical data in general) have been stored mainly in hard copies, and only in some cases, in electronic databases of medical institutions. In this case, patients do not have any mechanisms for controlling what happens to personal data stored in various medical documents. Theoretically, such data can be transferred to unknown organizations or just being lost as a result of a system failure. Secondly: block-chain can be used for monitoring of the supply of pharmaceutical products, including medicines containing virulent substances. It should be noted that the technology of Supply Chain Management (SCM) has been used for a long time. Supply Chain Management (SCM) – is a relatively new term. This concept is complex and includes earlier used definitions such as ECR (Efficient Customer Response) and DRP (Distribution Resource Planning). Nowadays, the patient cannot track which drug is being sold to him or her, both in independent purchasing and in inpatient treatment. Although, the patient has the right to demand, for example, a quality certificate for a medicinal product, but nobody prevents an unscrupulous vendor or employee of a pharmacy institution from tampering with it. Thirdly: such technologies can be helpful for the execution of smart contracts by legal entities including but not limited to insurance companies. Smart contract is an electronic protocol designed by using a computer code. Using block-chain technologies aims to transfer information and to ensure fulfillment of contract terms by both parties. Smart contracts could be replicated with the direct provision of medical care services between a patient and a health care facility, as well as with settlements between the National Health Service and medical institutions, with doctors of which patients have signed a declaration. But, the most interesting would be the use of such smart contracts for medical insurance (and not only medical). Analysis of the prospects of using the block-chain technology allows us to conclude that the objects of legal relations in this sphere are the following: 1) software; 2) telecommunication networks; 3) information resources, products and services; 4) the rights of patients in healthcare; 6) information security. The entire scope of legal relations in healthcare, including but not limited to block-chain, is private (dispositive) by its legal nature despite the publicity of using block-chain. Nevertheless, that the lack of imperative principles of block-chain implementation in healthcare, including ensuring of patients' rights, can make it impossible to use such up-to-date progressive technologies. Summarizing all mentioned before, it should be noted that it is very likely that the lack of legal clarity and unambiguousness of block-chain technology in healthcare can cause uncertainty in patients’ rights legal protection.
Olesia Demianyshyna, Oleksandr Nedbalyuk, N. O. Stanislavchuk
The systemic crisis in the sphere of socio-economic development of territories is a consequence of the lack of a modern management mechanism for the development of territorial communities, which is based on the corresponding development programs.Despite the depth of studying of these scientific studies, the financial aspects of developing programs for the innovative development of territories in the conditions of financial independence of local government bodies require detailed consideration.Focused attention of researchers on the problems of management of territorial development. Attracted attention to the necessity of creating a mechanism for funding work on the development of relevant programs. It is determined that without such mechanism it is impossible to create and effectively implement territorial development programs at all levels of the administrative-territorial system of the country. All elements of the process of territorial development programming that are in need of financing are considered and which should be considered such a separate cost items of the corresponding estimate. On the basis of foreign experience (first of all the USA), it is proposed to create a nation-wide network of state information and consulting (advisory) services that would be the implementers and coordinators of work on the development of territorial development programs. It is determined that the financing of the development of territorial development programs should be carried out precisely through such services, which will ensure the efficiency and transparency of this process in conditions of financial decentralization and creation of united territorial communities in Ukraine. The proposed basic model of the process of programming the innovative development of joint territorial communities will ensure the effectiveness and transparency of this process in the context of financial decentralization.
The article considers the necessity of financial logistic coordination, which involves attracting financial resources in those subsystems of the territories that are most favorable for the rational use of socio-ecological and economic resources, their reproduction, achievement of socio-ecological and economic security and increase in logistics efficiency. It is determined that in order to solve territorial communities’ functioning issues and to ensure their development there is a need to combine local, state and private finances. Effective financial coordination will make it possible to use the resources of the territories efficiently, reduce the use of territories' external resources sub-systems and maximize the provision of their functioning by internal resources. The main resources, revenues and expenditures that provide financial logistics of the territories in Ukraine are estimated. The first results from the implementation of decentralization reform revealed a number of issues: the dependence of Ukraine's local finances on public finances, the social orientation of expenditures etc.. The necessity of completing the process of inter-budgetary relations decentralization and coordination was singled out. The authors identified necessary changes on the state level in order to improve coordination of financial flows and development of the territories. Financial logistics coordination at the local level should solve a number of problems: filling of local budgets with their own financial resources; regulation of prices and tariffs for utilities; increase of communal enterprises and institutions financing; increase of capital expenditures in the spheres of local governments improvement and modernization; investment attraction ; improve the use of local debt securities.
The need to obtain prompt access to funds through electronic communications, protecting investment after the global financial crisis has led to the emergence of a new type of electronic money — the cryptocurrencies. The modern state and prospects for development of the cryptocurrency as a special kind of electronic money were expounded. Cryptocurrencies gain significant popularity due to the advantages of their use, such as: comfort, independence, accessibility, lack of engagement, confidentiality, no documents, full automation of accounting, and cost optimization for administration. Various scientific positions concerning the accounting and economic positioning of the cryptocurrencies in Ukraine were researched. The proposed order to display in accounting the processes of initial obtaining (mining) with the definition of a cost calculating method and operation of the cryptocurrencies most fully corresponds to the national accounting treatment. It was proposed to resolve to the problems of management accounting of electronic money and cryptocurrencies in Ukraine through the combination of functional capabilities of the blockchain technology, positive qualities of the «Internet Bank» and «Client-Bank» communications, which will enable to create a hybrid system of non-cash payments by the cryptocurrencies, electronic money, funds on accounts in a bank with free conversion of existing funds and possibilities for information exchange with all the participants in settlement operations. The article presents a methodology for collecting accounting information on settlements with the cryptocurrencies and other electronic money without the formation of traditional payment documents and bank statements. Electronic information from the hybrid communication system is the foundation for fully automated documenting, formation of accounting records, informing accountants and management of non-cash transfers. Automation of management accounting of electronic transactions helps to increase the level of internal and external control over execution of money operations due to timely and remote informing sharing about the parameters of payments.
Elena Kirillova, Albert Valentinovich Pavlyuk, I. A. Mikhaylova, Зульфугарзаде Теймур Эльдарович · 5 authors
The current article examines the peculiarities and legal nature of Bitcoin, Lifecoin, Namecoin, Quark, WebMoney, Ripple and other virtual currencies. There is no single understanding of the legal essence of virtual currency in the world today; therefore, the legal status of such currencies is not officially fixed and there are no official rates of Bitcoins or other crypto currencies against national currencies. Their rate is determined in the course of trading at virtual Bitcoin exchanges and exchange platforms. Such a situation is dictated by the novelty of legal relations in the field of crypto currency circulation, the risks of their implementation, as well as security problems. The main goal of the study is to define the legal nature and features of virtual currencies and the possibilities of legislative regulation of using crypto currencies. When writing the article, the methods of collecting and studying singularities have been used, as well as generalization methods, the methods of scientific abstraction, and the methods of studying regularities. The study has concluded that it is advisable to provide for the licensing of mining and crypto trading at the international level, customers should be identified when selling and buying virtual currencies, introducing a special verification procedure for Bitcoin users will prevent the abuse of virtual currencies for money laundering and terrorism financing. As a result of the analysis, a definition has been given, and the main features and functions of the virtual currency have been highlighted. It has been proved that virtual currencies are a new kind of electronic money stored in computer memory, the monetary value of the virtual currency is managed by means of a technical device. Virtual currency is a new means of payment and does not require access to deposit accounts.
The aim of the article. The purpose of the article is the theoretical substantiation of issues related to the system of strategic planning of economic development of industrial enterprises and marketing at the regional level in order to determine the interaction between them. The results of the analyses. The most characteristic features of modern strategic planning of the development of a production enterprise are considered: several strategic problems of the enterprise are solved; has a creative and iterative character; aimed at finding new business opportunities; It requires significant information, intellectual, as well as time costs; the basis of planning is the approach «from the future to the present»; differs stochastic approach and flexibility; strategic plans are conceptual and descriptive, which contain mainly qualitative and interval quantitative indicators; strategy development is based on the principle of alternatives; the system of strategic planning determines the potential of the company's success and creates the prerequisites for the effective operation of the enterprise; The subject of formation of the main strategic idea is the higher strategic level of enterprise management. Therefore, for business, the importance of the strategy is explained by the fact that clearly defined goals and guidelines for the development of the territory allow business entities to see the prospects of the economy, the prospects for development and state support of the industries, and, in accordance with new approaches and goals, declared by the local authorities in the planning documents, to build their own Plans for the future. In the conditions of objective incompleteness of information, the effect of external «deterrent factors» is multiplied, and therefore the mechanisms necessary to overcome them, which ensure the constructive nature of the processes of the flow of resources and capital in the economic space. One such mechanism is regional marketing. Some aspects of the interaction of the elements of the toolkit, which are fundamental in the formation of the system of strategic planning of the development of production enterprises and socio-economic development of the region, taking into account the marketing approach, are explored. Information interaction – the basis of the process of management of socio-economic development of the region, the mechanism for the development and implementation of both territorial strategies and strategies of production enterprises. Interaction through methods of managerial influence. Methods of economic interaction are a motivational component of the regional strategies of the region and the strategies of production enterprises. Methods of socio-psychological interaction. Interaction through project management and clustering. Interaction through the demand management system. Consequently, the main objective of marketing strategic planning is to build the activity of the territory and production enterprises in such a way that the organic and most efficient combination of production, satisfaction of the needs of consumers, profit and development of the region. The principles of marketing strategic planning are: coherence with overall strategic planning; based on the research of the marketing environment; cyclicity is a continuous process; flexibility – the ability to adapt the strategy to changes in the environment; multivariateness – taking into account possible changes of the environment at the stage of forming the plan. Conclusions and directions for further research. Thus, strategic planning of enterprise development in conditions of decentralization should be perceived as a powerful tool of state policy to ensure the balanced development of territorial communities. Consequently, three subjects of the national economy – government, business and the public, together, by consensus, create a joint strategy for the socio-economic development of the territory as a set of strategic goals, combined in the program of action based on the identified internal advantages and disadvantages of the socio-economic economic system, available resources, opportunities and threats to the environment. Keywords: strategic planning, economic development, manufacturing enterprises, regional marketing, methods of strategic planning. DOI: 10.15276/mdt.2.3.2018.7 Formuvannia obiednanykh terytorialnykh hromad: stan, problemni pytannia ta shliakhy yikh vyrishennia. Analitychna zapyska [Formation of united territorial communities: state, problem issues and ways of their solution. Analytical note]. www.niss.gov.ua Retrieved from http://www.niss. gov.ua/articles/2642/ [in Ukrainian]. Mischenko, A.P. (2007). Stratehichne upravlinnia [Strategic Management]. Dnipropetrovsk: DUEP [in Ukrainian]. Moskaluk V.E. (2005). Planuvannia diialnosti pidpryiemstva [Planning of enterprise activity]. K.: KNEU [in Ukrainian]. Ansoff, I. (1979). Strategicheskoe upravlenie [Strategic Management]. Moscow [in Russian]. Podolchak N.Y. (2012). Stratehichnyi menedzhment [Strategic Management]. Lviv: Lviv Polytechnic Publishing House [in Ukrainian]. Kotler, F., Asplund, K., & Rhine, I. (2005). Marketing mest: privlechenie investitsiy, predpriyatiy, zhiteley i turistov v goroda, kommunyi i stranyi: Stokgolmskaya shkola ekonomiki v Sankt-Peterburge. [Heider Marketing of places: attraction of investments, enterprises, residents and tourists to cities, communes and countries: Stockholm School of Economics in St. Petersburg]. St. Petersburg [in Russian]. Pankrukhin, A.P. (2006). Marketing territoriy [Territory Marketing]. St. Petersburg: Peter [in Russian]. Smentyna, N.V. (2015). Stratehichne planuvannia sotsialno-ekonomichnoho rozvytku na mezorivni: teoriia, metodolohiia, praktyka [Strategic planning of socio-economic development on mesorovnym: theory, methodology, practice]. Odessa: Atlanta [in Ukrainian]. Ruliev, V.A. (2011). Menedzhment [Management]. Kiev: Center for Educational Literature [in Ukrainian]. Mamonova, V, Baldic, N, & Grinchuk, N. (2013). Dzherela ta mekhanizmy finansuvannia mistsevoho ekonomichnoho rozvytku [Sources and mechanisms for financing local economic development]. Kiev [in Ukrainian]. Grinchuk, N. Formuvannia terytorialnykh marketynhovykh stratehii [Formation of territorial marketing strategies]. regionet.org.ua Retrieved from http://regionet.org.ua/files/08.Territorial_ Marketing_Grynchuk_Materials_UA.pdf [in Ukrainian]. Oklander, M. (2002). Problemy formuvannia marketynhovoi systemy krainy [Problems of forming of the marketing system of country]. Kiev [in Ukrainian]. Shchelkunov, V., Bondarenko, V., & Karakai, Y. (2005). Marketynh rehioniv: investytsiini aspekty [Marketing of the regions: investment aspects]. Kiev [in Ukrainian]. Kudenko, N.V. (2002). Marketynhovi stratehii firmy [Marketing strategies of the firm]. Kiev: KNEU [in Ukrainian]. Tiahunova, Z.O. (2011). Formuvannia mekhanizmu upravlinnya marketynhovym potentsialom pidpryiemstv systemy spozhyvchoy kooperatsii [Formation of the mechanism for managing the marketing potential of the enterprises of the system of consumer co-operation]. Naukovyy visnyk Chernivetskoho torhovelno-ekonomichnoho instytutu KNTEU [Scientific herald of the Chernivtsi Trade and Economic Institute KNTEU],3 (43), 320-323 [in Ukrainian]. Regional policy: legal regulation. World and Ukrainian experience. (2011). Tkachuk, A. (Ed). Kiev: Lesta [in Ukrainian]. On Approving the Model Provision on the Agency for Regional Development: Draft Resolution of the Cabinet of Ministers of Ukraine (2011, 20 June). old.csi.org.ua. Retrieved from http://old.csi.org.ua/?p=2395.
The aim of the article is to study the current state of financial provision of the social sphere of the Black Sea region and to develop practical recommendations for its optimization in conditions of decentralization processes. Methodology. We have made a generalization of the theoretical provisions of the financial mechanism of the social sphere of the region. We propose to investigate the financial mechanism of the social sphere of the Black Sea region by means of analysis of indicators of income and expenditure parts of the budget of regions of the Black Sea region. At the present stage of the gradual transformation of the socio-economic development of the regions and in the context of the implementation of the budget decentralization reform, a number of acute problems from the financial support of social development, the guarantee of social standards for the population, and the improvement of the quality of social services arose. The solution of these problems needs a substantial research in the direction of developing the best models for financing social development of the regions, which will promote the achievement of decent social standards and stimulate economic growth. The financial mechanism for providing social development of the Black Sea region is analysed, the current state of the regional budget in terms and trends in financing social expenditures of the region is identified. It is determined that despite the increase in tax revenues, local authorities still do not have sufficient financial resources to perform their functions and tasks. It adversely affects the development of social infrastructure, provision of social services, and does not contribute to the effective human development, which serves not only as the main goal but also as a key determinant of the economic development of the region. It is substantiated that in order to improve the situation in the social sphere of the region, it is necessary to improve the financial mechanism of social security. On the basis of the investigated scientific approaches, the concept of “mechanism of the financial provision of socially-oriented regional development” is clarified, directions of budget and extrabudgetary financing of social expenditures are substantiated, and proposals on the improvement of financial management of social sphere in the conditions of decentralization are developed. Results. To improve the system of financial provision of social development of the region, it was proposed to establish clear and transparent financial relations in the areas of income generation and distribution of regional budget expenditures at all levels, to create conditions for additional attraction of financial resources from extrabudgetary sources aimed at the implementation of regional social programs, and to form an effective system control over the functioning of the financial mechanism, primarily on the part of the territorial communities. Value/originality. The concept of the mechanism of the financial provision of socially-oriented regional development is generalized. An estimation of the social sphere of the Black Sea region is carried out on the basis of the analysis of indicators of income and expenditure parts of budgets of regions of the Black Sea region, the use of which allows determining the perspective directions of the social sphere of the Black Sea region.
This research is based on the phenomenon of new investment instrument called Cryptocurrency-Bitcoin which becomes popular in recent years. Based on that phenomenon, this research tries to search which is the best investment instrument from three instruments such as Bitcoin, stocks, and gold. The research method used is quantitative method with the type of research is comparative descriptive. In this study, the authors use Sharpe, Treynor and Jensen index approach to evaluate the performance. This study intends to do a comparison from the index using the data of the investment instrument in the period of January 2014 to August 2017. The study sample was taken from price result from every investment instrument during the period of study. The result shows that Bitcoin is the best instrument because based on Sharpe, Treynor, and Jensen value the return is better than the other two instruments.
In recent years, there has been an intensive market formation process which involves interrelations of various cryptocurrencies and other financial tools formed on the basis of cryptoplatforms. This process is fraught with numerous difficulties relating to determining the status of these new tools in the legal sphere of relations among market participants. However, the key role consists in the identification of the economic content of cryptotools. The purpose of the present article is to substantiate the proposals on the economic essence of cryptotools and the resulting models of their market formation. The article deals with the economic aspects of cryptotools and suggests possible models of their markets. Currently, in cryptocurrency market formation, the evolutionary path is dominated. Therefore, the article discusses the main tendencies characteristic of this development path. However, the authors also emanate from the necessity of cryptocurrency market formation under the regulating influence of the state and give recommendations on the cryptocurrency market formation based on the interaction of market participants with regulating bodies of state power. It is this approach that allows minimizing financial risks for investors, providing stability of money circulation and macroeconomic resilience, creating favorable conditions for this market to take the proper place in the contemporary economy, and in the digitalization processes occurring in the economy.