Prospects for the use of cryptocurrency in public monetary circulation

The modern world is changing rapidly. Digitalization is becoming more and more important and penetrates into all spheres of society. The digital transformation of financial and monetary processes and systems deserves special attention. It is important to determine the place and role of the state in...

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Main Authors: G. G. Danilyants, M. V. Volik
Format: Article
Language:English
Published: Publishing House of the State University of Management 2021-09-01
Series:Вестник университета
Subjects:
Online Access:https://vestnik.guu.ru/jour/article/view/2995
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author G. G. Danilyants
M. V. Volik
author_facet G. G. Danilyants
M. V. Volik
author_sort G. G. Danilyants
collection DOAJ
description The modern world is changing rapidly. Digitalization is becoming more and more important and penetrates into all spheres of society. The digital transformation of financial and monetary processes and systems deserves special attention. It is important to determine the place and role of the state in the regulation of these processes. This paper examines the current state and prospects of using cryptocurrency as an element of monetary circulation. Analysis of the dynamics of the bitcoin rate showed that the use of cryptocurrencies is promising. However, it is necessary to improve the regulatory framework. The introduction and use of the national cryptocurrency in Russia will stabilize the state of the financial system in relation to the dollar, ensure the safety of economic development and reduce transaction costs.
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spelling doaj.art-d720e4952122493db6422c39f616341b2024-03-26T14:23:08ZengPublishing House of the State University of ManagementВестник университета1816-42772686-84152021-09-010718719210.26425/1816-4277-2021-7-187-1922111Prospects for the use of cryptocurrency in public monetary circulationG. G. Danilyants0M. V. Volik1Financial University (Vladikavkaz branch)Financial University (Vladikavkaz branch)The modern world is changing rapidly. Digitalization is becoming more and more important and penetrates into all spheres of society. The digital transformation of financial and monetary processes and systems deserves special attention. It is important to determine the place and role of the state in the regulation of these processes. This paper examines the current state and prospects of using cryptocurrency as an element of monetary circulation. Analysis of the dynamics of the bitcoin rate showed that the use of cryptocurrencies is promising. However, it is necessary to improve the regulatory framework. The introduction and use of the national cryptocurrency in Russia will stabilize the state of the financial system in relation to the dollar, ensure the safety of economic development and reduce transaction costs.https://vestnik.guu.ru/jour/article/view/2995money circulationelectronic moneydigitalizationcryptocurrencybitcoinelectronic money platformcentral bankgovernment regulationeconomic development
spellingShingle G. G. Danilyants
M. V. Volik
Prospects for the use of cryptocurrency in public monetary circulation
Вестник университета
money circulation
electronic money
digitalization
cryptocurrency
bitcoin
electronic money platform
central bank
government regulation
economic development
title Prospects for the use of cryptocurrency in public monetary circulation
title_full Prospects for the use of cryptocurrency in public monetary circulation
title_fullStr Prospects for the use of cryptocurrency in public monetary circulation
title_full_unstemmed Prospects for the use of cryptocurrency in public monetary circulation
title_short Prospects for the use of cryptocurrency in public monetary circulation
title_sort prospects for the use of cryptocurrency in public monetary circulation
topic money circulation
electronic money
digitalization
cryptocurrency
bitcoin
electronic money platform
central bank
government regulation
economic development
url https://vestnik.guu.ru/jour/article/view/2995
work_keys_str_mv AT ggdanilyants prospectsfortheuseofcryptocurrencyinpublicmonetarycirculation
AT mvvolik prospectsfortheuseofcryptocurrencyinpublicmonetarycirculation