CRYPTOCURRENCY (ELECTRONIC CASH) AS NEW FINANCIAL INSTITUTION
https://doi.org/10.38050/01300105201865
Abstract
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.
Keywords
ICO,
cryptocurrency,
electronic cash,
mining,
forging,
ICO,
digital goods,
digital economy,
institutionalization
About the Authors
В. Цветков
ИПР РАН
Russian Federation
Russian Federation
А. Шутьков
ИПР РАН
Russian Federation
Russian Federation
М. Дудин
ИПР РАН; РАНХиГС при Президенте РФ
Russian Federation
Russian Federation
Н. Лясников
ИПР РАН; РАНХиГС при Президенте РФ
Russian Federation
Russian Federation
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Review
For citations:
, , , CRYPTOCURRENCY (ELECTRONIC CASH) AS NEW FINANCIAL INSTITUTION. Moscow University Economics Bulletin. 2018;(6):79-96. (In Russ.) https://doi.org/10.38050/01300105201865
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