scholarly journals E-Money

2020 ◽  
Author(s):  
DARRWIN DELAPERLE
Keyword(s):  
Electronic Cash ◽  
Electronic Money ◽  
Definition Of ◽  
Net Transfer

The definition of electronic money (also called electronic cash or digital cash) is a term that is still evolving. It includes transactions carried out electronically with a net transfer of funds from one party to another, which may be either debit or credit and can be either anonymous or identified.

scholarly journals THE CIVIL LAW NATURE OF ELECTRONIC MONEY

2020 ◽  
Vol 6 (1) ◽  
pp. 100
Author(s):  
Liudmyla Panova ◽  
Vitalii Makhinchuk
Keyword(s):  
Practical Implication ◽  
Comparative Method ◽  
Civil Law ◽  
Synthesis Method ◽  
Electronic Money ◽  
Holistic View ◽  
Analysis And Synthesis ◽  
Logical Method ◽  
Definition Of ◽  
The Right

The purpose of the article is to examine the civil law nature of electronic money. The subject of the research is the features of the civil law nature of electronic money. Methodology. Research methods are chosen based on the object, subject and purpose of the study. The study used general scientific and special methods of legal science. Thus, the analysis and synthesis method as well as the logical method were used to formulate a holistic view on electronic money, their features and legal nature. The logical-semantic method was used to establish the meaning of the concepts “electronic money”, “non-cash money”, “payment instrument”, “electronic payment instrument”. The comparative method was used when analyzing scientific categories, definitions and approaches. The legal modeling method was applied to formulate the author’s definition of the term “electronic money”. Results. The article generalizes scientific views on the civil law nature of electronic money. A distinction has been made between electronic money and currency unit, non-cash money and the right to claim. As the result it has been established that electronic money is the monetary obligation. Practical implication. The study should assist in developing the unified approach to the issue of the civil law nature of electronic money. Value/originality. As the result of the study the author’s definition of the concept “electronic money” with regard to its civil law nature has been proposed.

Evolution, Development and Growth of Electronic Money

2011 ◽  
pp. 249-268
Author(s):  
A. Seetharaman ◽  
John Rudolph Raj
Keyword(s):  
Risk Management ◽  
Rapid Change ◽  
Management Approach ◽  
Electronic Payment ◽  
Payment Systems ◽  
Electronic Cash ◽  
Electronic Money ◽  
Electronic Payments ◽  
Problems And Solutions

Traditional cash has long been envisioned to be replaced with ‘virtual’ or electronic cash. Electronic money and electronic payment systems for retail transactions are commanding widespread attention. Undeniably, electronic payment cites advantages such as efficiency and convenience to the consumers. However, with the rapid change and advances in technology, has posed significant risks, related to ensuring security and integrity of electronic payment systems in today’s cyber world. Therefore, this study attempts to understand the role of electronic payments for consumers, and to identify the problems and solutions in the emergence of electronic payments. This study also explores the challenges of electronic payments from a security perspective, in particular, and provides preliminary security countermeasures for each of the issues discussed. Beside that, the study also discusses further on the prospects of electronic payment systems. It is essential to put in place an integrated, overall risk-management approach to security, including independent security assessments as one of the components in the use of electronic payment products.

Turnover of Electronic Funds: Civil Law Issues

10.12737/1556 ◽  
2013 ◽  
Vol 1 (12) ◽  
pp. 130-135
Author(s):  
Максим Коростелев ◽  
Maksim Korostelev
Keyword(s):  
Civil Law ◽  
Electronic Money ◽  
Legal Tender ◽  
Legal Nature ◽  
Definition Of ◽  
Legal Mechanism

The article is devoted to the definition of electronic money according to Russian legislation, its legal nature, legal mechanism of its transfer, to the question whether electronic money is legal tender in Russia as well as to the question whether electronic money emission constitutes deposit taking activity.

scholarly journals E-business challenges in the field of payment solutions - Bitcoin a sustainable currency or gambling

2018 ◽  
Vol 22 (3) ◽  
pp. 1-8
Author(s):  
Jacek BINDA
Keyword(s):  
Risk Assessment ◽  
Risk Analysis ◽  
Value At Risk ◽  
Risk Measure ◽  
Economic Value ◽  
Point Of View ◽  
Electronic Money ◽  
Goods And Services ◽  
Definition Of ◽  
Business Challenges

Money is a widely accepted commodity allowing to determine the economic value of purchased goods and services and to make payments. Over the centuries, "money" has been constantly evolving. In recent times, following dynamic development of various forms of e-business, dematerialized money has emerged. However, in constantly changing conditions it is very difficult to grasp the essence of the so called e-money or cryptocurrencies. The paper tries to define Bitcoin, one of the most recognizable cryptocurrencies, and answer the question whether investing in cryptocurrencies is a serious business or a mere gambling. In search for the answers, the author reviews literature on the topic and conducts his own risk analysis based on Value at Risk measure, of selected traditional currencies and Bitcoin. The results of the analysis unambiguously show that investments in Bitcoin are burdened with definitely much higher risk. Furthermore, conclusions of the considerations clearly show that despite growing popularity of cryptocurrencies they do not fulfill the definition of both electronic money or money in general. The paper attempts to discuss selected issues related to Bitcoin cryptocurrencies from the monetary point of view but also with respect to restrictions of Bitcoin as a means of payment, investments in Bitcoin and risk assessment.

World Monetary System Transformation: the Future for Crypto Currency?

2018 ◽  
Vol 2018 (2) ◽  
pp. 75-93 ◽  
Author(s):  
Natalia Shchegoleva ◽  
Olga Terenteva
Keyword(s):  
Financial Services ◽  
Third Party ◽  
System Transformation ◽  
Federal Law ◽  
Electronic Money ◽  
Monetary System ◽  
Blockchain Technology ◽  
Rapid Spread ◽  
Definition Of ◽  
High Degree

Rapid spread of cryptocurrencies and the underlying technologies (blockchain) can transform the global financial system, as cryptocurrency has the potential to become a universal global currency. The article makes the conclusion concerning the timeliness and importance of cryptocurrency legitimization in Russia, which alongside the identified shortcomings contains significant competitive preferences for the banking industry, financial services market as well as for the state, drawing on quality blockchain technology mastering. The paper recommends to clarify the definition of electronic money in the Federal law «On National Payment System» under which a transaction with the cryptocurrency eliminates a third party intermediation. According to the authors, the spread of cryptocurrencies and the use of the blockchain technology will with a high degree of probability result in the transformation of the world monetary system due to the development of cryptoeconomy.

scholarly journals Legal regulation of cryptocurrency in Ukraine

2021 ◽  
pp. 26-29
Author(s):  
Nataliia TURCHYN ◽  
Artem TURCHYN
Keyword(s):  
Legal Regulation ◽  
Business Environment ◽  
Weapons Of Mass Destruction ◽  
Electronic Money ◽  
Investment Tool ◽  
Financing Of Terrorism ◽  
Definition Of ◽  
Financial Monitoring ◽  
Financial Transactions ◽  
High Degree

Introduction. Cryptocurrency is a relatively new financial market instrument, but due to a lack of the fundamental principles of the legal regulation and legal regulation of market of cryptocurrency, individuals and legal entities, who have at their disposal the virtual assets are effectively deprived of an effective way to protect their ownership of such assets. The following key features of cryptocurrency are outlined: lack of control and restrictions on financial transactions, anonymity, the possibility of using it as an investment tool, the speed of transactions, a high degree of security. The purpose of the paper is explores the question of definition of legal essence, the maintenance of cryptocurrency is investigated. Results. Nature and legal uncertainty does not allow it to be identified with any of the related concepts (money, securities, currency value, means of payment, currency, money surrogate, etc.). That is, cryptocurrencies are currently in Ukraine outside the scope of legal regulation. The analysis of definition of a concept of cryptocurrency in the draft law on circulation of cryptocurrencies in Ukraine is carried out; prospects for the legislative implementation of cryptocurrency in Ukraine, in addition, the author draws attention to the novelties of the legislation on financial monitoring, namely certain provisions of the Law of Ukraine “On Prevention and Counteraction to Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing of Weapons of Mass Destruction Proliferation”. Conclusion. The analysis of the characteristics of cryptocurrency leads to a conclusion that the cryptocurrency can be understood as electronic money. The paper presents a vision of further trends in the use of cryptocurrency in everyday life and business environment, opens up an opportunity for further research in the field of the cryptocurrency market, further development of Ukraine and integration to the world financial system.

scholarly journals Exploring Policy Issues of Electronic Cash: The Mondex Case

1999 ◽  
Vol 24 (2) ◽  
Author(s):  
Felix Stalder ◽  
Andrew Clement
Keyword(s):  
Policy Debate ◽  
Electronic Cash ◽  
Electronic Money ◽  
Implementation Phase ◽  
Technological Infrastructure ◽  
Current Test ◽  
Political Implications ◽  
Extensive Field ◽  
Il Y A ◽  
Vie Privée

Abstract: Electronic cash in Canada is moving from the developmental into the implementation phase. Mondex, a smart card-based electronic money system, began its most extensive field trial worldwide on February 13, 1997 in Guelph, Ontario, foreshadowing a Canadian nationwide roll-out. This paper introduces the basic concepts of electronic money and describes the Mondex system and the dynamics of its current test in detail. This provides the basis for an analysis of its social and political implications. Mondex raises interrelated questions of access, privacy, and the development of private currencies. We conclude that Mondex has a strong potential, but if the implementation is completely market driven there is a substantial danger of excluding whole segments of the population from a technology which is positioned to become a key element of the future technological infrastructure. The flexibility of the Mondex system creates a new, potentially significant threat to the individual's privacy. Electronic cash, by effectively introducing private currencies, contributes to the decrease of economic influence of the nation state's institutions vis-à-vis global financial institutions. The paper concludes by proposing starting points for the policy debate to develop an inclusive and privacy-safeguarding framework for implementing electronic cash in Canada. Résumé: L'argent électronique au Canada est en train de passer d'une phase de développement à une phase de mise en place. Mondex, un système d'argent électronique qui se fonde sur les cartes "intelligentes", a commencé les essais sur le terrain les plus vastes au monde le 13 février 1997 à Guelph en Ontario, présageant un élargissement de services à l'échelle du pays. Cet article introduit les concepts de base de l'argent électronique et décrit en détail le système Mondex et la dynamique des essais actuels. Cette description sert de fondement à une analyse des implications sociales et politiques du système. Mondex soulève des questions interreliées d'accès, de respect pour la vie privée et de développement de devises privées. Nous concluons que Mondex a beaucoup de potentiel, mais, si la mise en place dépend complètement du marché, il y a un danger significatif d'exclure des segments complets de la population d'une technologie qui pourrait devenir un élément clé de l'infrastructure technologique future. En outre, la flexibilité du système Mondex menace la vie privée des individus de manière potentiellement significative. L'argent électronique, en introduisant par le fait même des devises privées, contribue à diminuer l'influence économique des institutions de l'état-nation par rapport aux institutions financières globales. Cet article conclut en proposant des points de départ pour un débat favorisant une mise en place de l'argent électronique au Canada où l'on tient compte de questions d'accès et de respect pour la vie privée.

scholarly journals Improvement of electronic money accounting at Ukrainian enterprises

2021 ◽  
Vol 13 (2) ◽  
Author(s):  
N. Kurhan ◽  
V. Aksyuta
Keyword(s):  
Scientific Research ◽  
Practical Interest ◽  
Money Market ◽  
Electronic Payment ◽  
Payment Systems ◽  
Electronic Money ◽  
Working Plan ◽  
Definition Of

The popularity of electronic money payments is growing in the modern conditions of digitalization ofbusiness processes. The Ukrainian e-money market is at the stage of formation and state settlement. Therefore, it is advisable to clarify the essence of electronic money for accounting purposes, as well as to developmethodological recommendations for their accounting by Ukraine’s enterprises. The authors proposed a refined definition of the concept of «electronic money» as an object of accounting, which outlines a lot of emoney legalized in Ukraine. Accordingly, the classification of electronic money for accounting needs hasbeen improved. Electronic payment systems, which have emitted e-money and are represented on the territory of Ukraine, were classified into nine groups. The methodological support for the accounting of transactions with electronic money in the company (as a user and trader) has been improved: additional accounts tosynthetic account 33 «Other money» and a fragment of the working plan of accounts has been developedtaking into account the types of e-money. Results of scientific research are of practical interest for companiesthat make settlements with e- money.

scholarly journals MENAKAR PROGRESIVITAS TEKNOLOGI FINANSIAL (FINTECH) DALAM HUKUM BISNIS DI INDONESIA

2019 ◽  
Vol 16 (2) ◽  
Author(s):  
Mariske Myeke Tampi
Keyword(s):  
View Point ◽  
Business Law ◽  
Electronic Money ◽  
Value System ◽  
Sociological Jurisprudence ◽  
Business To Consumer ◽  
Technology Product ◽  
Definition Of ◽  
Business To Business ◽  
Financial Technology

The PBI Number 19/12/PBI/2017 concerning the Implementation of Financial Technology is a staple of policy that shows the Financial Technology (Fintech) has been allowed to exist in Business Law in Indonesia such as business to business and business to consumer with particular limitation. The regulation on electronic money that has been enacted before the issuance of PBI Number 19/12/PBI/2017 is also included in the definition of Financial Technology (Fintech) in PBI Number 19/12/PBI/2017. Enormous benefits from Financial Technology (Fintech) is a driving force of the progressivity of the Financial Technology (Fintech) regulation. Review of laws relating to Financial Technology (Fintech) in Indonesia illustrates that the policy of Financial Technology (Fintech) is quite progressive. Such progressivity may be examined from the view point of Satjipto Rahardjo’s progressive law theory and Roscoe Pound’s sociological jurisprudence. The cause of the emergence of rules regarding current Financial Technology (ius constitutum) is contained in 4 points of urgency and 3 (three) points of consideration of Bank Indonesia Regulation Number 19/12/ PBI/2017. As long as the product of Financial Technology does not conflict with the existing value system, the Financial Technology product can be developed and regulated in Indonesia in the future (ius constituendum).

Sign in / Sign up

Export Citation Format

Share Document