This paper presents arguments about a need to study a new phenomenon in cyberspace - non-fungible tokens (NFT) as an object of legal relations and an object of accounting. A brief essential characteristic of these objects is given; the market of their turnover, Russian legal norms and accounting standards were studied. The objects of accounting from the Russian Federal Law No. 402-FZ "On Accounting", the criteria of referring to these objects in relation to NFT are considered. Afterward, we outlined the legal and accounting problems associated with the emergence of a new object and the ways for further research. Keywords: assets, expenses, business transaction, digital assets, copyrights, intellectual property, cyberspace, digital product, token.
Decentralized Autonomous Organizations (DAO), which have already become independent participants in the relationship in the Web 3.0 economy, are currently neither decentralized nor autonomous because most of the functions and tools used are still centralized, the management of DAOs still largely depends on collective decision-making by all participants. Greater autonomy can be provided by the use of Autonomous Economic Agents (AEA) in DAOs to organize governance, improve communication between participants, create an autonomous reward system, and speed up the search for information and solutions. AEA can be used as a tool to conclude transactions or implement a part of their functions. The article provides an overview of the main technological developments in the field of AEA and DAO and also describes the main ways they could interact in economic peer-to-peer digital systems, taking into account their role, characteristics, and functions. Attention is also drawn to the economic benefits that a DAO acquires from the use of autonomous agents.
Open access
Digitalization and Economic Development in Agriculture
Advanced Research in Systems and Signal Processing
Blockchain technology has become a significant driver for an array of economic activity in contemporary society. This chapter investigates how blockchain technology and smart contracts enabled on the blockchain could be leveraged by the space industry and the legal issues that arise from such implementations.
<em>Cryptocurrency is a kind of digital currency, accounting for internal units of account of which is provided by a decentralized payment system (there is no internal or external administrator or any of its analogues), operating in fully automatic mode. By itself, the cryptocurrency does not have any special material or electronic form – it is just a number indicating the amount of data of settlement units, which is recorded in the corresponding position of the information packet of the data transfer protocol and often is not even encrypted, like all other information about transactions between the addresses of the system.</em>
Relevance of the research topic. Blockchain technology has become a new paradigm for<br> building decentralized systems that do not require the creation of a central governing body to organize<br> the cooperation and coordination of participants with different characteristics. The possibilities of<br> blockchain applications have already begun to go beyond digital finance and are increasingly being used<br> for the decentralized organization of communities and participants in digital partnerships. Decentralized<br> autonomous organizations (DAOs) built on blockchain technology represent a new form of collective<br> management in which communities are organized based on the decentralized infrastructure of the third<br> generation of the Internet (Web 3.0). In this context, as an innovative form of economic cooperation,<br> decentralized autonomous organizations have become an object of research interest.<br> Problem statement. The use of decentralized autonomous organizations as a form of cooperation<br> is a new and relatively unexplored area in economics. The role of DAOs in the system of economic<br> relations and their possibilities for digital partnerships remain unexplored. In addition, the use of DAOs<br> poses a number of opportunities and risks that can be identified through analysis and evaluation.<br> Objective and tasks of the research. The aim of the research is to determine the possibilities of<br> using decentralized autonomous organizations as an innovative form of economic cooperation in the digital<br> society. The tasks of the research include analyzing the mechanisms of DAO functioning, comparing them<br> with traditional organizational forms, and determining their possibilities for application in different fields.<br> Methodology of the research. The research methodology consists of analyzing scientific sources<br> and practical experience in the use of decentralized autonomous organizations. The research was<br> conducted by analyzing the main principles of DAO operation, their advantages and disadvantages<br> compared to traditional forms of economic cooperation. A comparative analysis was also conducted<br> to identify the differences between DAOs and traditional organizations. Finally, the possibilities of using<br> DAOs in different fields were assessed, taking into account the potential risks associated with their use. Presentation of the main findings of the study. The results of the research demonstrate<br> that DAO can be an effective form of organizing economic cooperation in the digital society. They<br> provide decentralization and autonomy, which allows avoiding many problems of traditional forms of<br> cooperation, such as management, power, and profit distribution issues. In addition, the application of<br> blockchain technology enables a high level of security and trust among participants.<br> Application fields of the results. DAO can be applied in various economic fields, such as finance,<br> logistics, agriculture, and others. This technology can also find its application in public projects, such<br> as charity and ecology. The digital nature of such an organization allows integrating any modern<br> technological advancements, including tools of artificial intelligence and decentralized finance. With<br> such characteristics, DAO is defined as one of the most interesting organizational innovations of the<br> 21st century.<br> Conclusions of the article. Based on the analysis results, we propose to consider the DAO<br> concept as an innovative technology of organizing economic cooperation, capable of responding to<br> new challenges through fast and remote organization of economic interaction, regardless of the<br> geographic location of partnership participants, based on trust and modern tools using distributed<br> ledger technology. This new form of cooperation, based on decentralization and autonomy, offers DAO<br> technology as a competing form that replaces standard forms of cooperation and Web 2.0 internet<br> organization. The unique feature of this form of economic cooperation is the absence of intermediaries,<br> as the terms of interaction are recorded in the program code and executed automatically, significantly<br> reducing costs and time for interaction realization.
Digital technologies are increasingly penetrating various spheres of society, including the economic one. Blockchain the technology has existed for less than 10 years, however, it has successfully established itself in the Russian and world markets. Today, many organizations prefer to invest in specific systems based on blockchain technology. In the Russian Federation, blockchain technologies are also developing rapidly, which means they require clear state and legal regulation. The object of the study is the processes of state regulation and procedures for the use of blockchain technologies in the public financial sector. The subject is managerial, legal, organizational and economic relations, manifested in the development of blockchain technologies in the financial sector of the state. The published article reveals the essence and content of the blockchain platform in the development of a modern payment system, in particular, it substantiates the need for the use of blockchain technology by financial market participants as an innovative tool to accelerate the development of the economy, and considers the interest for the state, since the amount of taxes levied on the crypto industry is a significant share in the specific volume of taxes collected. The risks of using blockchain technologies in the financial system of the state are analyzed. Special attention is paid to the state regulation of the cryptocurrency industry. The main provisions of the road map for cryptocurrencies are considered; the main provisions of the Concept of regulating the circulation of digital currencies; the main provisions of the bill of the Ministry of Finance of the Russian Federation on the regulation of cryptocurrencies. The tools of state regulation of digital currency and the sphere of cryptocurrency are given.
In recent years, the market for non– fungible tokens (NFTs) has been developing steadily. The concept of tokenising the uniqueness of digital elements has emerged thanks to the Ethereum blockchain token standard. This type of token is associated with digital properties in the context of the value of properties as unique identifiers. This feature has expanded the penetration of NFTs in most industries. Despite this, the NFT ecosystem is still at an early stage of development, while the technologies on which NFTs are based are entering a mature stage of development. All this generates a large amount of unsystematic information, which complicates the process of analysing and evaluating NFT projects. This article identifies opportunities for businesses to use NFTs to help modernise and digitalise their operations. It also identifies the areas by which all NFT collections are grouped and provides criteria for differentiating assets by rarity. The study also identified the impact of the minimum price and the factors that influence it during listing. Based on the results of the analysis, a six– stage analysis of NFT projects was derived, which can be used to analyse and determine the rationality of further research for investment.
Abstract. Introduction. The history of the emergence of Bitcoin and other cryptocurrencies is analyzed. Basic concepts related to blockchain technology are explained. The main focus is on issues important from an investor's point of view, as well as on technical aspects, including the essence and importance of blockchain technology. Purpose. The purpose of the article is to generalize and systematize the available information about the emergence of cryptocurrencies and analyze their patterns. Results. The specifics of digital assets and the bitcoin exchange rate in 2012-2021 were studied in more detail. It was found that on the cryptocurrency market you can earn (as well as lose) both as a trader and as a so-called cryptocurrency hodlers. A rating of cryptocurrency exchanges was developed according to the following indicators: security, number of crypto currencies, fiat currencies, advantages of the exchange, disadvantages of the exchange. Cryptocurrency exchanges are a central part of the entire digital collection ecosystem today. Currently, there are already several hundred crypto exchanges on the market, which differ in terms of transactions, security levels or listed values. In this article, we have described cryptocurrency as objectively as possible so that you can assess for yourself whether it will be the right form of investment for you. Conclusions. The wide choice of service providers and the fact that digital currencies are a relatively new form of investment means that finding the best place to trade is not easy. The cooperation of international financial conglomerates in the development of blockchain technology will save these enterprises billions of dollars per year and will be able to improve their operations and eliminate errors related to the human factor. Participants in the financial system are forced to propose standards that would apply to each participant in the network without disturbing the established status quo in international markets.
The article explores the complexity and diversity of the crypto-asset space, examining the logic of its development, the dynamics of interactions within the ecosystem, and with the external world. It demonstrates how the open-source nature of crypto projects and the emergence of tools for simplified token creation on third-party blockchains have transformed the crypto-asset space into one of unlimited financial asset creation. The structure of the crypto-asset space is represented through a typology of crypto-assets based on technological, functional, and socio-economic characteristics. By studying thirty of the largest crypto-asset projects by market capitalization, several distinct groups that define the construction of crypto-asset space have been identified: bitcoin and ether as the poles of crypto space development; alternative to bitcoin payment cryptoassets; cryptocurrency based back-office solutions for traditional cross-border payments; stablecoins; coins of alternative blockchain platforms with innovative consensus mechanisms and scalability solutions (Layer 1 and Layer 2); crypto-assets of projects for scaling other blockchains and facilitating efficient interoperability between blockchains and the external world; crypto-assets of projects expanding existing successful virtual networks; crypto-assets of centralized cryptocurrency exchanges; DeFi project coins; meme coins; enhanced privacy coins; and non-fungible tokens (NFTs). The article reveals the ongoing development of the crypto-asset space in the following directions: solving the blockchain trilemma considering project goals; ensuring interoperability of decentralized networks; creating new forms of collaboration with traditional financial intermediaries and institutions (which often contrasts with the original cypherpunk ideology). It is argued that the space of decentralized interactions, mediated by crypto-assets, has become a domain of extreme volatility, hyper-financialization, and a space where it is difficult to separate technological value from speculative crypto markets. It also highlights the presence of centralized, opaque, and unregulated hyper-intermediaries, with no clear distinction between professional and non-professional participants in the crypto market. Furthermore, this space seeks additional sources of trust from the traditional world, including through sovereign currency-backed stablecoins, partnerships with traditional financial intermediaries, and regulatory lobbying. The second article presents the structure and logic of the crypto space by examining the nature of more than thirty crypto projects with the largest market capitalization. It also outlines the factors and trends shaping the interaction between the crypto asset space and the traditional financial system.
The use of private digital assets based on distributed ledger technology and cryptography methods is increasing every year. The opportunities provided by crypto assets due to their special characteristics can be used when issuing digital assets controlled by the state. The subject of this article is the study of digital currencies of central banks (CBDC), the digital ruble, consideration of their differences from cryptocurrencies and the opportunities provided by them to strengthen tax control in the field of compliance with tax legislation by subjects of economic relations. The research was carried out using universal (analysis, generalization) and special legal methods of cognition (comparative legal, historical legal). The novelty of the study consists in updating approaches to identifying the essence of digital currencies of central banks, including the digital ruble and the possibility of their influence on compliance with tax legislation. As a result of the study, the author concluded that the need to introduce digital currencies of central banks is now under active study by the central banks of a large number of states. The advantages for users of these assets will be speed, availability of assets even in regions that are difficult to access for banking services and security from the state. For regulators, the introduction of these assets will reduce interest in cryptocurrencies, transactions with which are often made for illegal purposes, as well as give additional incentives in the fight against tax evasion.
The paper discusses formation features of the metaverse concept in terms of the active introduction of information and communication technologies (ICT) into the state governance and business. The work’ goal is to study the concept content, its structure and development prospects. The author used such general scientific research methods as content analysis, comparative and correlation analysis, grouping, synthesis, systematization. In order to reveal the concept content, the paper reflects various approaches to the definition of the term “metaverse”. The author proposes his understanding and analyzes the issues of transition to the Web3 era and its relationship with the metaverse in the digital transformation of society and economy. The research presents a vision of the major elements of the metaverse at the current time. Despite the emerging risks, it assumes the active use of ICT and trends towards decentralization of the economy will contribute to the further implementation of the metaverse concept in our daily life. A practical significance of the research lies in the possibility of using its provisions in the compilation of strategies for the development of corporations and state institutions. As an inference, the study gives some recommendations to corporations on taking part in the creation and it makes development of virtual worlds and a conclusion about the prospects for the concept progress in the medium term.
Open access
Digitalization and Economic Development in Agriculture
In the conditions of a steady surplus of up-to-date information, institutional and value-based tools for reducing the uncertainty of economic activity fade into the background, the paternity that progresses as a result of a combination of the short-term temporal paradigm, historically and institutionally inherent in the Western business traditions and becomes an important structural element, with the fundamental innovation of the information-network economy, the actual manifestation of which is the production of excess information and the creation of conditions for reproduction of uncertainty at the higher level. Cryptocurrencies emphasize the crisis of the banking institutions of financial intermediation as a result of the trust destruction as a natural result of the dominance of the financial component in the system of complementary interaction between financial intermediaries and subjects of the real economy sector, which in turn led to the crisis of financial intermediation and led to the desire of financial services consumers for operating activity without any mediation. Nowadays, the first cases of blockchain technology influence on the processes of reformatting the basic principles of human society development - information asymmetry and trust, which can testify to the depth of the modern transformation transition, are observed. An indirect development effect regarding information-network economy is the intensification of households` credit activity and the development of financial-oriented patterns of behavior, which indicate a prevailing focus on short-term prospects in economic and social activity, an increase in the value of self-interest over the interests of family and immediate surroundings, and a reduction in the impact of long-term hierarchical responsibility (in the generations context) on financial decision-making processes. A striking result of these patterns is an increase in household debt, which leads to a narrowing of economic freedom. Financial culture is gradually losing its role as a basic factor in the development of financial patterns of behavior, that in turn influences financial decision-making process, meanwhile the factors of economic and social conditions, banking marketing tools using client databases are updated.
Classic banking operations, such as granting loans, accepting deposits and participating in payment transactions, are on the verge of revolution thanks to the potential use of web 3.0 technologies and tokenized assets. These new financial horizons run the gamut from unsecured virtual assets (like cryptocurrencies) and shadow payments to central bank digital currencies and widespread circulation of money rights. The potential of digital transformations in the financial sphere is best illustrated by distributed ledger technology (blockchain) and new solutions based on it – decentralized digital platforms and tokenized assets. However, there are other forms of decentralized financial instruments, payment services and financing that can allow households and companies to access credit and share unbreakable financial risks, bypassing traditional financial intermediaries. This scientific article discusses relatively new methods of providing access to low-cost and "seamless" payment systems from the point of view of their implementation in small or regional banks. The drive to innovate through alternative financing mechanisms involves the integration of many disparate customers into mainstream and even new financial systems. Tokenized assets can become a means that are available to those who are deprived of access to classic banking services, and even to those who are outside the scope of services of traditional banks.
Open access
Economic and Technological Developments in Russia
Economic, Social, and Public Health Issues in Russia and Globally
Digitalization and Economic Development in Agriculture
The subject of the study is to minimize the risks of strengthening international financial sanctions on economic entities by building a decentralized mechanism for direct financing of budget recipients without the participation of the Federal Treasury in Russia, while ensuring that the payer fulfills its obligations and control over the targeted use of funds. The relevance of the study is to consider this mechanism in the context of international sanctions and as an alternative to a one-time collection from large businesses (windfall tax or tax on excessive profits of past years). The actuality is also confirmed by the use of the principle of “uberization” of relations between public finance entities, while the effectiveness and the need of “uberization” has already been confirmed in business practice. It is established that the financing of part of government spendings through such an alternative mechanism as “Uber” will reduce the sanctions risks for representatives of the business community. In the course of the study, specific examples of projects funded from the federal budget were analyzed, and these projects could first of all be transferred to the proposed new budget pilot financing mechanism. The conclusion is made about the efficiency of the proposed concept and the need for its further elaboration within the increased number 1) of enterprises and organizations directly financing the budget system expenditures on this electronic platform, and 2) of social, cultural and scientific projects financed with its help, gradually “uberizing” an increasing segment of budget financing.
Introduction. The development of information technologies led to the emergence of new financial instruments, payment systems, methods and payment platforms. Cryptocurrency is a means of circulation and payments fundamentally different from traditional ones. Awareness of the emergence and existence of electronic money is quite high, however, awareness of the mechanism of its functioning and the possibility of using/making calculations, financing projects is low. The puppose of the article is to highlight the main characteristic features of cryptocurrencies, to justify the advantages and disadvantages of cryptocurrencies, to analyze the state, dynamics and development prospects of the cryptocurrency market. Results. Characteristic features of cryptocurrencies include: lack of payment system administration; impossibility of forced return, withdrawal or "freezing" of payments (without access to the owner's private key). Cryptocurrency is an investment object, and the speculative-investor type of demand for cryptocurrencies is also noted. The authors identified the advantages of using cryptocurrencies, including: equal conditions of use by users, unlimited possibilities of transactions, their transparency, lack of complications in international transfers and the impossibility of blocking or freezing a cryptocurrency wallet and its funds, no commission, open code of cryptocurrency, decentralization. Among the disadvantages of cryptocurrencies are identified: the danger of losing the key to cryptocurrency; the difficulty of returning funds in case of erroneous currency transfer; lack of guarantees for keeping electronic wallets; intervention by hackers; instability of the cryptocurrency exchange rate, dependence of the exchange rate on demand; high energy consumption; distrust of users. The dynamics of the exchange rate of bitcoin and ethereum were analyzed, significant fluctuations in their exchange rate relative to the dollar during the research period were noted. The difference in the views of countries on the issue of regulating the circulation of cryptocurrencies is described (recognition of operations with cryptocurrency as illegal activity, full / partial ban, legalization of legal circulation of electronic money). Conclusions. Barriers and prospects for the development of the electronic money market have been identified. Given the described features of cryptocurrencies, the prospects of recognition / settlement of cryptocurrencies as a financial instrument at the same level as freely convertible currencies (dollar, euro, etc.) are unrealistic and impractical within the framework of the existing mechanisms of functioning of the cryptocurrency market. The prospects for the growth of cryptocurrency circulation in the sectors of NFT-tokens (in games, music, art, sports) were noted.
Purpose. The aim of the article is to determine the place of cryptocurrencies in the digital economy, assess their state and development trends, research prospective directions for expanding the scope of their use by introducing innovative technologies and tools, and reducing the risks of investing in crypto assets. Methodology of research. The following research methods were used to achieve the set goal: induction and deduction – in the process of identifying cause-and-effect relationships and trends in the development of cryptocurrencies in the digital economy; analysis and synthesis – in the process of studying the individual essential characteristics of the category "cryptocurrency"; comparison – in the process of researching changes in the market capitalization of cryptocurrencies, the dynamics of the Bitcoin exchange rate, the dynamics of the market capitalization of cryptocurrencies and DeFi; graphic – to visualize the results of the study. Findings. The influence of environmental factors on the dynamics of the development of cryptocurrencies during 2021‒2023 has been determined. The directions of their development in the digital economy are substantiated, which include the correlation of the crypto market with traditional markets and the financial sector of the economy, the emergence of new types of cryptocurrencies that expand the range of offered market tools, the expansion of the scope of use of cryptocurrencies through the introduction of innovative technologies and tools. Alternative directions for investing in crypto assets have been identified. A comparative assessment of the risks of traditional investing and investing in cryptocurrencies was carried out. Originality. Determining the essential characteristics of cryptocurrencies, such as price volatility, investment attractiveness and riskiness, has been further developed. Prospective directions for the use of innovative tools in the crypto industry, in particular, decentralized finance (DeFi), are substantiated. Practical value. Conclusions and proposals substantiated by the results of the research can be used in the process of carrying out operations with cryptocurrencies and making decisions by market subjects regarding directions and instruments for investing in crypto assets. Key words: cryptocurrencies, market capitalization, rate dynamics, price volatility, innovative technologies and tools in the crypto industry, decentralized finance (DeFi), alternative investments in crypto assets.
Purpose. The research aim is to study effects of cryptocurrencies inclusion into an investment portfolio. To achieve the aim, portfolios with different composition of traditional and crypto assets are to be formed and compared.Methodology. It is proposed to conduct the following steps of the appropriate algorithm of investigating modern opportunities with cryptocurrency market: 1) preliminary analysis of the relationships and interdependencies between traditional assets and crypto assets; 2) formation of the initial set of crypto assets that can be potentially included into portfolio; 3) efficient frontier assessment for portfolios with different initial composition of assets; 4) comparative assessment and result analysis.Findings. The algorithm was implemented for the initial set of five most common traditional assets and ten cryptocurrencies. The latter constituents list was formed according to the value of market capitalization. Than the initial set of crypto assets was reduced according to their multidimensional distances from traditional assets. The results obtained allow to conclude that there are opportunities of portfolio efficiency increase via crypto assets inclusion in its structure. The increase value varies noticeably and depends on the particular kind of crypto assets, their total share and number.Originality. This research suggests to conduct additional preliminary procedures to choose potential candidates to be included into the traditional portfolio among initial set of crypto assets. Firstly, market capitalization value and low correlations with traditional portfolio constituents are taken into account. Secondly, all assets are presented as points in two-dimensional risk-return space and crypto assets are chosen according to the multidimensional distance measure value.
Maria A. Egorova, V. V. Grib, L. G. Efimova, О. В. Кожевина · 6 authors
The article deals with the national practicies of direct and indirect taxation of income from cryptoassets in some countries of the world, including Russia, France, Italy, USA, Great Britain, etc. The authors study various approaches to the concept of cryptocurrency for the purposes of fiscal management: macroeconomic, cost, accounting, legal and institutional approaches. According to the authors position cryptocurrencies for tax reasons should be treated as a property and means of payment. Therefore, any income in cryptocurrencies received by taxpayers should be subject to personal income tax or corporate income tax, respectively. The recognition of cryptocurrencies as a means of payment (that is, private money) leads to the need to exempt taxpayers from paying value added tax in cases where cryptocurrencies perform these monetary functions in transactions performed by taxpayers, in particular, they perform the function of a means of payment. Payment of taxes on income of taxpayers received in cryptocurrencies can be carried out both in cryptocurrencies and in national (fiat) currencies. It is permissible to establish a tax declaration of transactions for cryptocurrency. The foundations of the legal regime of taxation of digital currencies in the Russian Federation have been formed. The problems of introducing effective taxation of cryptocurrency transactions in the Russian Federation are identified, as well as changes to tax legislation are proposed, in particular, clarification of the range of objects that can be classified as “digital currency”, synchronization with the law on digital financial assets, determining the tax base and implementing tax control of transactions with cryptocurrency. As the study showed, the approaches to indirect taxation are the most unified. Tax regulation is a potential incentive to reduce the speculative interest of participants in transactions with cryptocurrencies and increase the transparency of taxation of cryptocurrencies.
The paper is dedicated to the discussion of the author’s attempt to explain a trend in the future market infrastructure development through the use of tokenized assets. The paper successively solves eight working tasks: a) clarify standard functions of the market infrastructure and roles of a market intermediary; b) outline the logic for developing a virtual market and place of a legal deal; c) clarify four mandatory components of a standard deal; d) distinguish the concept of “tokenized document” as a modern type of legally valid contract; e) distinguish entities and objects involved in a deal and essential conditions of a legally valid deal; f) subjectively assess the potential impact of tokenized assets on the renewal and development of the market infrastructure; g) outline new opportunities for regulating market relations using tokenized assets, which are consequences of their properties and parameters of tokenized assets; h) summarize levels of formation of a new economic potential of tokenized assets for the market infrastructure development. The author concludes that distributed ledger tools and especially the most promising type of distributed ledger virtual asset, such as a tokenized asset, can drive the market infrastructure modernization. It will be a new and additional means for addressing global wealth inequality using tokenized assets. Its “key” is to create new professional jobs in the ecosystems of decentralized information platforms. The most expected promising areas, especially widespread digital commerce, management of objects of intellectual property rights, agricultural sector at the level of micro and small farms, pave the way for significant, almost radical transformations in the composition, structure and number of participants in the market infrastructure and economic relations on the markets. The main and fundamental technical means for this new market infrastructure organization are backed distributed ledger tokens or tokenized assets, namely tokenized contracts, tokenized resources and tokenized deals. Based on the information and applied nature of tokenized assets and four standard components of a deal (contract, entities and objects involved as well as essential conditions of the contract), the author proposed three types of tokenized assets based on the feature “original asset underlying the tokenized asset”, namely: (a) tokenized document, (b) tokenized resource and (c) tokenized deal. Together they universally cover all types of original (underlying) assets in legal civil and economic circulation in almost any country in the world. Having different functional purposes, these three types of tokenized assets along with a digital ecosystem of services potentially fulfill many functions of market intermediaries in the modern market infrastructure.
Open access
Economic Development and Digital Transformation
Digitalization and Economic Development in Agriculture
Due to the significant expansion of the use of cryptocurrencies in the world, there is a need to understand the perspectives and risks associated with their use. Today, the relevance of cryptocurrency has risen sharply again. The cryptocurrency market has increased and is in no hurry to fall. However, this topic is still ambiguous and surrounded by many myths. Before becoming a stable means of payment, the cryptocurrency began to resemble financial instruments. Cryptocurrencies have an impact on the economy, financial system, society, and ecology, so it is necessary to analyze their impact and consider possible ways to solve the problems associated with their use. In recent times, cryptocurrencies, particularly Bitcoin, have been actively used in the traditional financial system. Today, cryptocurrencies can help open up new markets and increase the volume of international trade, as they are not dependent on financial institutions or national currencies. The problem lies in the fact that cryptocurrencies are still relatively new and not fully understood by many people, and their impact on the global economy and financial system can be significant. Therefore, it is necessary to investigate the issue of the prospects and risks of cryptocurrencies in the modern world to understand their impact and make necessary decisions regarding their use. The economic characteristics of the crypto market are essential since blockchain and digital currencies significantly impact the economic sphere. Cryptocurrencies allow people to invest and store their assets without being tied to the traditional financial system. The purpose of this article is to analyze the perspectives and risks of cryptocurrencies. The article covers the impact of cryptocurrencies on the economy, financial system, society, and ecology. Additionally, it analyzes the fluctuations and growth rates of the most well-known cryptocurrencies. Cryptocurrencies can have significance for the economy and the environment if they are used properly and take into account certain factors such as social responsibility, energy conservation, and efficient use of resources. However, it is also important to remember the potential risks associated with cryptocurrencies, which can harm the economy, society, and the environment.
Информатизация затрагивает различные стороны человеческой деятельности, в частности сферу образования.Если в начале этого процесса основной задачей информатизации являлась автоматизация документооборота и управленческой деятельности (менеджмента образования), то в настоящее время акцент смещается в сторону автоматизации и упрощения деятельности преподавателя.В статье рассматривается автоматизированная система, позволяющая повысить объективность контроля качества обучения путем предоставления преподавателю показателей объективного контроля прохождения образовательного мероприятия и самостоятельности выполнения заданий обучающимися, а также информации о других показателях, которые могут быть использованы для валидации оценки.В работе приводится структура интеллектуальной системы и ее особенности.Авторы предлагают классификацию признаков качества обучения на ретроспективные, подлежащие анализу с помощью методов искусственного интеллекта, и оперативные, контролируемые программно-аппаратными методами с помощью системы датчиков.В
Introduction. The functioning of decentralized autonomous organizations (DAOs) is based on the principles of blockchain technology and smart contracts. The functioning of the DAO is based on the understanding and compliance of smart contracts, the activity and participation of participants, as well as the development and resolution of emerging challenges in this experimental field. The purpose of the presented work is to determine the main features of the functioning of decentralized autonomous organizations and to present a conceptual approach to the development of the presented organizations. Materials and methods. The main information base of the research is the works of leading scientists in the field of digital economy, the implementation of digital technologies, the problems of the management decentralization system at its various levels, and the use of modern management and digital tools to ensure the optimization of management decisions. The main methods of research are methods of analysis, synthesis, comparison, induction, deduction and a graphic method for visual display of the presented research results. Results and discussion. The essence of decentralized autonomous organizations is to create an ecosystem in which management and decision-making is carried out on the basis of blockchain technology and smart contracts. The basic idea is that DAOs have no centralized governing body or leadership. Decisions are made collectively by members of the organization. The main mechanism of management and interaction in the DAO is smart contracts, which are software codes on the blockchain. They automate the execution of agreements and define the rules of the organization. Cryptocurrency and tokens are used for funding and participation in DAOs. Members can purchase tokens that give them the right to vote and participate in the organization's decisions. All transactions and decisions are recorded in the blockchain, which guarantees transparency and irreversibility of actions. Information is open to all participants. Conclusions. Decentralized autonomous organizations are a paradigm of a new approach to organizational management and interaction of participants, aimed at increasing transparency, democratization and autonomy in resource management and decision-making. Success largely depends on the ability to understand risks and resolve technical and legal issues, as well as community support and participation of qualified professionals in the development and evolution of the DAO concept.
The article considers cryptocurrency as a new type of intangible assets and the regulatory and legal support for its implementation. Particular attention is paid to defining the content, legal status, features of accounting, and taxation of transactions with such assets. The market capitalization and bitcoin forecast are analyzed. The interdependence between the exchange rate of bitcoin and pairs of the most influential world currencies, world prices for precious metals, and securities rates on the largest stock exchanges is determined. The most significant influencing factors on the bitcoin price are determined using correlation and regression analysis. The advantages of using cryptocurrencies have been identified, including high speed of transactions, reduction of the intermediaries number, and low fees. The threatening nature of the crypto-industry development for the economic potential of the state is also determined, taking into account available with current global challenges such as cyberattacks and fraud and data theft. Real fraud schemes in the field of crypto-circulation are considered. It is noted that without determining the clear legal status of cryptocurrencies in the country, it is impossible to resolve the legal, accounting and tax consequences of these transactions. It was determined that for the legal circulation of cryptocurrencies, the creation of a financial institution or a special state body, which should exercise control over the cryptocurrencies circulation, must be ensured as a minimum; introduction of taxation for companies whose activities are related to the crypto industry; establishing the obligation of users to declare their income and profits from crypto-assets, etc. Because of this, the functions of state authorities in regulating operations with cryptocurrencies are characterized, and the changes that will be introduced to the Tax Code of Ukraine are analyzed, regarding the taxation of transactions with cryptocurrencies, which in the future will make it possible to increase budget revenues, regulate and facilitate accounting and taxation of transactions with cryptocurrencies, use legal remedies for virtual assets, reduce possible tax evasion, etc.
Today, a crypto economy is actively developing throughout the globe based on the use of cryptographic technologies for the creation of new digital products, including the issuance of digital financial instruments. The topic of regulation of digital financial assets (hereinafter referred to as DFA) is relevant in the world: since 2019, some countries, including Russia, began to introduce legal norms regarding the issuance of DFA, as well as the sale and turnover of such assets on the market. This article compares approaches to the regulation of DFA in Russia and globally, including the issue of determining financial instruments that will be related to these assets, aspects of the procedure for issuing, storing, and trading them, including the basic rights and obligations of issuers and investors in such assets, and the features of the operation of trading floors and platforms for issuing DFA. In general, two approaches to the regulation of DFA can be distinguished. The first approach is the application of existing rules to tokenized assets (for example, laws on securities and financial instruments); this approach is used in the United States. The second is regulation through the introduction of a new framework for the application of distributed ledger technology in financial services, for example, in Russia, Germany, Luxembourg, the European Union (EU), and Switzerland. This article examines the second approach, which is currently implemented in Russia, to identify differences with foreign regulation, for example, the use of custodian institution for accounting and storing digital assets, converting DFA into traditional financial assets, and creating rules for trading digital financial assets.