Аннотация.К настоящему моменту сетевизация экономики становится наиболее перспективной формой структурных преобразований хозяйственных систем как на национальном, так и на мировом уровне.Движущей силой сетевизации является становление цифровой экономики.С 1990-х годов в первые четыре десятилетия Интернета возникла электронная почта, глобальная электронная сеть -«Всемирная паутина», Интернет-магазины и компании («доткомы», от англ..com),социальные сети, мобильный доступ в Интернет, мировые вычислительные мощности («Биг Дейта», от англ.Big Data -«Большие данные»), облачные вычисления и становление безлюдных технологий межмашинного взаимодействия -«Интернета вещей».Это оказало значительный позитивный эффект на снижение затрат информационного обмена и рыночных взаимодействий для субъектов национальных и мировой экономики, снизило барьеры для доступа к новым средствам массовой информации и развлечениям, новым формам товародвижения и организации управленческой деятельности, а также создало возможности проявления полностью цифровых предприятий, производящих только информацию.Благодаря технологиям дополненной и виртуальной реальности цифровизация охватывает производство, торговлю и финансы, моду, автомобили, здания, города и даже жизнедеятельность человеческого организма.Насыщение цифровыми технологиями различных процессов жизни современного человека и общества настолько велико, что обращение к цифровым массивам и виртуальной реальности происходит не по требованию, т.е.эпизодически, а постоянно, в ходе соединения рутинной деятельности и ее цифрового отражения в вычислительных системах.Результатом цифровизации и
The emergence of cryptocurrency and its blockchain technology has seen great progress and more widespread acknowledgment of its value as a digital currency. Cryptocurrency invites more criminals to carry out their illicit activities due to the pseudonymity it provides. Forensic analysis of such criminal activities like money-laundering generate new insights for a better safeguard of the financial system. Advances in machine learning algorithms motivates such opportunities. In this project, the author achieved the task of visualising the Bitcoin network on the Neo4j graph database for an accurate depiction and the explanation of each components that make up the cryptocurrency. Following that, the project explored on experimental results of a binary classification task in predicting illicit transactions using machine learning models like Logistic Regression, Random Forest and Multilayer Perceptron, with a discussion of using new methods such as Graph Convolutional Network to better utilise the relational information that Bitcoin has to offer.
The article is devoted to the research of the current state and prospects of digital assets (cryptocurrencies) in the global financial system. Despite the controversial history of development, the process of acceptance of crypto assets at the level of state regulators continues. It seems that, to one degree or another, the algorithmic and technological advantages of cryptocurrencies will be used to reduce transaction costs of the economy. However, their legitimization will be associated with a gradual rejection of anonymity and increased state control. The advantages, disadvantages, risks and prospects of blockchain technology for the implementation of monetary settlements are considered.
This article represents the chronology of the use of digital currency by professional participants in the US financial market. There are indicated main participants of the digital currency market using this asset for investment and speculative purposes. There are described their actions on the digital currency market. There are analyzed possible stages of the development of the digital currency market. Digital currency Bitcoin and Ethereum are represented. Attention is paid to the innovations of the JP Morgan Chase Corporation, the Facebook Corporation. There are described new exchange assets introduced by Cboe, CME Group, and Bakkt.
Open access
Economic and Technological Developments in Russia
Economic, Social, and Public Health Issues in Russia and Globally
Andrey Zubarev, Kirill Shilov, М С Сулейманова, Elizaveta Golovanova · 5 authors
This study analyzed the main mechanisms for achieving consensus in distributed ledgers. Different types of distributed ledgers were classified according to the characteristics of who can form data chains and who has access to them. Such important applications of the distributed ledger (blockchain) as smart contracts were examined in detail, the principle of their work was described, the features of functioning on various platforms were systematized. Most of the work is devoted to a detailed review of the use of blockchain technology in the financial sector. Using the analysis of individual international and domestic practices as an example, the benefits of using the blockchain in the banking sector and in payment systems are analyzed. In conclusion, recommendations are given for economic policy in the field of blockchain technology implementation.
Рассматриваются блокчейн-технология как перспективная инновация и направления ее применения в отечественной экономике, практика использования цифровых денег и цифровых активов. Затрагиваются проблемы регулирования виртуальных финансов в России.
У статті проведено аналіз основних характеристик біткоїна як першої криптовалюти, досліджено особливості подальшого розвитку ринку криптовалют та застосування технології блокчейн. Розглянуто динаміку капіталізації основних криптовалют та визначено лідери даного ринку за рівнем капіталізації
Марат Рашитович Сафиуллин, Leonid Alekseevich Elshin, A.A. Abdukaeva
The digitalization of business processes significantly changes the wellestablished models for the development of economic systems, forming new factors of socio-economic growth. This article proposes a cryptocurrency market forecasting toolkit based on building a model of autoregressive conditional heteroskedasticity. The paper enables the analysts to determine the most suitable model from the GARCH family for forecasting one of the most common and popular cryptocurrencies in the world - bitcoin. The proposed and tested tools make it possible to plan the development of the cryptocurrency market for the short term. This, in turn, can serve as the basis for monitoring and predicting future market adjustments, which allows coordination of state planning measures in this sector of economic relations.
А. Kramarenko, Anton Kvitka, Віталій Дячек, Denis Davydov
The article considers the place of cryptocurrency markets in the global economy. The key risks of active implementation of IT achievements in the financial sector were defined. It was shown that cryptocurrencies are associated with settlement operations, investment activities and speculation in the currency markets. It was argued that the availability of equipment for the production of digital currencies, the spread of trust on the part of users and business representatives contribute to the promotion of cryptocurrencies and the penetration of digital currencies in various spheres of economic activity. The attraction of additional resources in the economy in the conditions of insignificant costs for entering the cryptocurrency market that become a factor in the spread of cryptocurrency assets was considered.
Globalisation of the world economy and computarisation of financial systems form a new branch - economy. There appear some alternative currencies generated by computarisation of financial systems. A remarkable example of this process is
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 idea of anonymous digital money existing outside of traditional banking system lasts at least 40 years. It appeared as soon as technological solutions, which such a system requires, became available. The article analyses the genesis of the crypto-currencies and technological solutions implemented into the Bitcoin digital currency. The article shows current state of the Bitcoin market and changes in its price, market capitalisation and number of transactions during last decade of operations of the crypto-currency market. Although there are difficulties in using Bitcoins, which include technical background and resulting from the high volatility of prices of this currency, the continuing upward trend of the Bitcoin price and the average daily number of transactions shows that interest in this currency is growing. Bitcoin features that attract new users are a large dose of anonymity, security of funds guaranteed by the extremely high computing power of the Bitcoin network, the speed of transactions and their low cost associated with the exclusion of a financial intermediary. The features of this money and data from the market allow to expect that Bitcoin will gain more individual and institutional users.
Valeriy A. Tsvetkov, Anatoliy Shutkov, Mihail Nikolaevich Dudin, N. V. Lyasnikov
In this article, the authors review and analyze the features of functioning and development of a new financial market segment - the cryptocurrency market or electronic cash (specific digital assets). At present, the cryptocurrency segment (and digital financial assets at large) cannot be recognized as a formal institution, since there is no legal framework in this area, and informal interaction regarding the creation and circulation of cryptocurrencies is not an established social and financial-economic phenomenon. The analytic comparison using discount methods allows to a certain extent to evaluate the effectiveness and feasibility of e-cash issuance from the viewpoint of physical persons. The authors identify the main directions in institutionalizing the cryptocurrency segment of the financial sector of the national economy and substantiate the need for legal recognition of cryptocurrencies in the status of digital goods, which in turn involves the need to improve the Russian Federation legal framework.
The article is dedicated to the actual problems of creation, intervention and introduction of electronic money crypto-currency and blockchain technology at the modern stage. Rather narrow description is given to essence, the history of invention and the types of crypto currency (bit coin, ethereum, etc.,), advantages and defects of their use, the electronic wallet and its types, situation of the electronic money introduc tion in Georgia, the global crypto currency spread and the tendencies and prospective of its possible recognition, assessed is significance of the electronic money in manufacturing, based on the modern technical-technological achievements, money-reporting field, maximally just relations creation and by this - further growth of the economic development and accordingly the permanent enhancement of the living standards of the populations.
Abstract The article studies the architectures of the modern systems of decentralized data storage and processing, applicability of the blockchain technology in these systems, existing security threats in comparison with the decentralized systems, and methods of security assurance allowing avoidance of these threats.
The obligatory features of the unit of account are formulated. Distinctive characteristic properties of a set of cryptocalculation units, in particular, subsets of x-type (coin) and y-type (token) calculation units, are revealed. It is proved that these sets do not intersect. It is proposed to allocate a subset of C 2 in the set of coins, which has an additional characteristic property — functioning on the basis of a smart contract. The thesis that any settlement unit carries the cost of a resource is proved. Even for units of account with the so-called “intrinsic value” (bitcoin), the presence of a resource in its functions was found. Four characteristic properties inherent in the set of “money” (M = {money}) are disclosed and a subset DM = {digital money} is allocated, containing a set of digital Fiat money secured by the state (sets F = {fat}) and a subset P = {private}, which is actually an addition to the set F). It is proved that cryptocurrencies have characteristic properties of the set M = {money} only within their own community. The paradox of the algorithmic guarantor, reflecting the absence of the need for formalization of algorithmic informal institutions, is formulated. Disclosed defnitions of such concepts as “cryptocurrency”, “token economy” and “tokenization economy”. Euler circles are used to visualize the relationship between different sets of calculation units. A coherent classifcation of calculation units based on the characteristic properties of the identifed sets is formed. The results of the study can be used to form the basis of legal regulation of the circulation of digital units of account.
Over the past 30 years financial markets have moved from a highly centralized to a globalized system that includes all the world's stock exchanges and other financial institutions. The global stock architecture has united the world market. Traditionally, trading in financial instruments took place between stock brokers and traders who made personal transactions on trading platforms. At that time, stock brokers were monopolists of the market, only their information, their recommendations were the only source of information for investors. This was before the dotcom revolution, when communication became simple and accessible to everyone. Trade has been transformed from physical to electronic form, today you can buy securities, currencies and any derivatives in any quantity, at any time and from anywhere in the world. Development of blockchain technologies is integrated into financial transactions. Financial intermediaries are forced to follow the market and actively introduce new technologies in their processes. This article will consider the possibility of using the technology of the distributed ledger by institutions of custodian infrastructure. Today, a number of Russian financial institutions are developing their own projects using blockchain.
The subject of the research is the tax burden of organizations engaged in new types of activities using digital information and communication technologies. The purpose of the research was to determine the specific features of the crypto economy to be taken into account in the development of measures for the tax regulation of organizations in the digital economy. It was established that the transformation of approaches to information exchange allowing economic agents to make transactions on the basis of digital platforms not linked to the geographical borders of states makes legal entities and individuals more reluctant to delegate some of the powers to the state as an institution of power. The paper classifies foreign practices of direct taxation of incomes from purchase and sale of crypto-currency, which made it possible to identify prospects for the development of tax regulation in Russia. The conceptual scenarios of taxation of cryptoproducts are analyzed and it is concluded that in creating a cryptocurrency the deferred recognition of the object of taxation is advisable in order to reduce the tax risks of users.
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Legal and Policy Issues
Economic and Technological Developments in Russia
Digitalization and Economic Development in Agriculture