Prospects for digital transformation of the monetary systems
The active digitalization of financial markets generates new types of digital financial assets, and also raises questions about prospects of the national monetary systems development, taking into account the emerging digital financial instruments. The authors present the results of a study conducted...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Publishing House of the State University of Management
2023-05-01
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| Series: | Вестник университета |
| Subjects: | |
| Online Access: | https://vestnik.guu.ru/jour/article/view/4402 |
| _version_ | 1797243662582677504 |
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| author | O. I. Larina N. V. Moryzhenkova |
| author_facet | O. I. Larina N. V. Moryzhenkova |
| author_sort | O. I. Larina |
| collection | DOAJ |
| description | The active digitalization of financial markets generates new types of digital financial assets, and also raises questions about prospects of the national monetary systems development, taking into account the emerging digital financial instruments. The authors present the results of a study conducted via interviewing respondents about their attitude to cryptocurrencies, about the likelihood of cashless economies, and about the impact of economy digitalization on changing people’s lives. Current scientific studies show that a significant part of authors is inclined to believe that current digitalization trends will lead to the complete disappearance of cash, including cryptocurrencies will play an important role in this process. Low financial literacy, possible failures in electronic payment systems, the difficulty of adaptation for certain groups of the population are the reasons that delay the transition to cashless economies. However, a significant number of advantages that digital assets provide for the development of the economy, and the positive attitude of society to the changes taking place in the process of digital transformation, contribute to a further change in the monetary system. |
| first_indexed | 2024-03-08T04:17:41Z |
| format | Article |
| id | doaj.art-a3fd885cc0cb40c78e18798d9c7a5674 |
| institution | Directory Open Access Journal |
| issn | 1816-4277 2686-8415 |
| language | English |
| last_indexed | 2024-04-24T18:58:41Z |
| publishDate | 2023-05-01 |
| publisher | Publishing House of the State University of Management |
| record_format | Article |
| series | Вестник университета |
| spelling | doaj.art-a3fd885cc0cb40c78e18798d9c7a56742024-03-26T14:23:14ZengPublishing House of the State University of ManagementВестник университета1816-42772686-84152023-05-010316917710.26425/1816-4277-2023-3-169-1772744Prospects for digital transformation of the monetary systemsO. I. Larina0N. V. Moryzhenkova1State University of ManagementState University of ManagementThe active digitalization of financial markets generates new types of digital financial assets, and also raises questions about prospects of the national monetary systems development, taking into account the emerging digital financial instruments. The authors present the results of a study conducted via interviewing respondents about their attitude to cryptocurrencies, about the likelihood of cashless economies, and about the impact of economy digitalization on changing people’s lives. Current scientific studies show that a significant part of authors is inclined to believe that current digitalization trends will lead to the complete disappearance of cash, including cryptocurrencies will play an important role in this process. Low financial literacy, possible failures in electronic payment systems, the difficulty of adaptation for certain groups of the population are the reasons that delay the transition to cashless economies. However, a significant number of advantages that digital assets provide for the development of the economy, and the positive attitude of society to the changes taking place in the process of digital transformation, contribute to a further change in the monetary system.https://vestnik.guu.ru/jour/article/view/4402digital assetsdigital financial assetsdigital moneycashless economycryptocurrencydigital transformationdigitalization of the financial markettransformation of the monetary system |
| spellingShingle | O. I. Larina N. V. Moryzhenkova Prospects for digital transformation of the monetary systems Вестник университета digital assets digital financial assets digital money cashless economy cryptocurrency digital transformation digitalization of the financial market transformation of the monetary system |
| title | Prospects for digital transformation of the monetary systems |
| title_full | Prospects for digital transformation of the monetary systems |
| title_fullStr | Prospects for digital transformation of the monetary systems |
| title_full_unstemmed | Prospects for digital transformation of the monetary systems |
| title_short | Prospects for digital transformation of the monetary systems |
| title_sort | prospects for digital transformation of the monetary systems |
| topic | digital assets digital financial assets digital money cashless economy cryptocurrency digital transformation digitalization of the financial market transformation of the monetary system |
| url | https://vestnik.guu.ru/jour/article/view/4402 |
| work_keys_str_mv | AT oilarina prospectsfordigitaltransformationofthemonetarysystems AT nvmoryzhenkova prospectsfordigitaltransformationofthemonetarysystems |