: (Electronic Money and Information Technology: The Medium-Term Scenarios for the Development of Innovations in the Field of Retail Financial Instruments)

2014 ◽  
Author(s):  
Viktor Dostov ◽  
Paul Shoust
Keyword(s):  
Information Technology ◽  
Financial Instruments ◽  
Medium Term ◽  
Electronic Money

Spreading Use of Digital Cash

2011 ◽  
pp. 1041-1045
Author(s):  
Yutakai Kurihara
Keyword(s):  
Information Technology ◽  
Monetary Policy ◽  
Social Structure ◽  
Financial Institutions ◽  
Economic Activity ◽  
Electronic Money ◽  
Academic Field ◽  
Theoretical Perspectives ◽  
Digital Money ◽  
Communication And Information Technology

Approximately 10 years have passed since the words such as digital cash, digital money, electronic money, and e-cash have been introduced. Progress has increased rapidly in the fields of communication and information technology (IT) and in the field of digital cash; its use and transaction volume have been increasing. However, little analysis has been done about this phenomenon especially from the academic field. The continued increase in its use is inevitable, and it is important to investigate its influence and problems from both practical and theoretical perspectives. The spread of the use of digital cash impacts economic activity and social structure. This article considers both the merits and the problems of digital cash in the modern economy. This article analyzes characteristics of relationships between digital money, financial institutions, and financial authorities; considers the relation between digital cash and financial institutions; and analyzes the relation between digital cash and monetary policy authorities.

scholarly journals The Problems of Crowdsourcing Legal Regulation in Russian Federation

2018 ◽  
Vol 3 (2) ◽  
pp. 533
Author(s):  
Afanaseva E.Y.
Keyword(s):  
Information Technology ◽  
Russian Federation ◽  
Legal System ◽  
Business Models ◽  
Legal Regulation ◽  
Financial Instruments ◽  
Role Of Information

In this article the problems of legal regulation of fintech in Russia are considered, special attention is paid to the crowdsourcing, its classification, examples of business models, and the importance of developing alternative financial instruments due to the growing role of information technology in the terms of environment. The actual legal system of Russian Federation is analyzed due to the questions of fintech and traditional financial instruments. The article examines contradictions of laws and legal hurdles. The author suggests generalized measures to eliminate the deficiencies of legislation aimed at the development of fintech in Russia. Keywords: crowdsourcing, crowdfunding, crowdlending, crowdinvesting, legal regulation, problems of legislation

INTRODUCTION OF THE E-HRYVNIA AS AN INNOVATIVE PAYMENT INSTRUMENT

2017 ◽  
Author(s):  
Nadia Bugay ◽  
◽  
Anastasia Skuratovskaya ◽  
Keyword(s):  
Information Technology ◽  
Payment System ◽  
Ease Of Use ◽  
Modern World ◽  
Circulation System ◽  
Electronic Money ◽  
Efficient System ◽  
Settlement Services ◽  
Money Circulation

In the last three decades, Information Technology has evolved so much that it has formed its own personal world. And this world could not do without its own means of payment – electronic money and an electronic economy appeared. In fact, they are not money, and therefore represent an alternative, a way of exchange without direct use of credit money. Convenience, cheapness and a number of other advantages of their use have firmly established them in the market. Since in the modern world, the recovery of the economy of any highly developed state is impossible without an effective and modern system of money circulation, so every year electronic money occupies a large share in the total money circulation, thereby displacing cash. In the age of Information Technology, the role of the electronic money circulation system is considerable. Due to the difficult geopolitical situation in the world, it is necessary to develop its own payment system. The payment system is an integral component of the financial and economic integrity of any state, and, in particular, the domestic payment system is designed to ensure the turnover of funds, manage the single currency supply, regulate the hryvnia exchange rate and underestimate the price of settlement services. In modern conditions, it should be closely interrelated with all elements of economic activity, exist in a strategically important way that carries out reliable and clear implementation of financial transactions. The payment system must have certain advantages, namely: accessibility, ease of use, efficiency, prospects for opening an electronic account, security and reliability. So, the role of the payment system in a market economy is defined as important and relevant in terms of its function, namely, ensuring an unpretentious and prompt transfer of funds to the need for stability of economic turnover and economic growth of our state. This article describes certain modern features of the development of a highly efficient system of money circulation and the use of modern payment mechanisms, where one of the most promising elements in this area is electronic money, highlights the main problematic issues of a theoretical and practical nature. This determines the urgency of the problem of development and improvement of the payment system in Ukraine.

Part II UK Securities Markets, 7 Multilateral Trading Facilities (MTFs) and Organized Trading Facilities (OTFs)

2021 ◽  
Author(s):  
Penn Bob ◽  
Pascal Nadia
Keyword(s):  
Information Technology ◽  
Stock Exchange ◽  
Securities Markets ◽  
Financial Instruments ◽  
Infrastructure Provision ◽  
The Uk ◽  
Almost All ◽  
Infrastructure Services ◽  
Market Infrastructure ◽  
The Way

This chapter examines the recent growth in the volume and variety of market infrastructure provision. It sets out the legal and regulatory framework governing the operation of multilateral trading facilities (MTFs) and organised trading venues (OTFs) in Europe and the UK. It chapter highlights how information technology has fundamentally changed the way in which trading in financial instruments occurs in the UK. This chapter points out that almost all exchanges, clearers, and other providers of market infrastructure services have moved to an electronic basis for their activities since the introduction of electronic trading by the London Stock Exchange in 1986. It highlights the opportunities that have arisen for the commercial provision of niche infrastructure services to support trading as technology changed the way in which markets are organised and participants execute trades.

Country Attractiveness for Offshoring and Offshore Outsourcing: Additional Considerations

2008 ◽  
Vol 23 (4) ◽  
pp. 228-231 ◽  
Author(s):  
Julia Kotlarsky ◽  
Ilan Oshri
Keyword(s):  
Information Technology ◽  
Local Knowledge ◽  
Offshore Outsourcing ◽  
Medium Term ◽  
Strategic Intent ◽  
Alternative Approach ◽  
Starting Point

In this article, we review aspects relating to the attractiveness of India for information technology offshore - outsourcing. Our starting point is that, indeed, India will remain competitive in the short-medium term. However, more importantly, we move on to argue that country attractiveness is becoming a less important issue. We consider an alternative approach to analyze country attractive in which the client's strategic intent behind going offshore and the vendor's global dispersedness and its local knowledge define the attractiveness of the firm's offshoring strategy.

scholarly journals E-Cohesion: E-Solutions in the implementation of combined financial instruments

2018 ◽  
Vol 325 ◽  
pp. 437-452
Author(s):  
Györgyi Nyikos ◽  
Szilvia Hajdu ◽  
Tamás Laposa
Keyword(s):  
Information Technology ◽  
Financial Development ◽  
Public Investment ◽  
Public Capital ◽  
Financial Instruments ◽  
Efficient Utilization ◽  
Development Tool ◽  
It Support ◽  
Further Development

Europe is facing an investment gap and the so-called financial instruments seem to be one of the solutions. They invest public sources on a repayable basis with a revolving character, which allows for a much greater efficiency in the allocation of public capital and the long-term sustainability of public investment. Policymakers see considerable value in supporting the further development of FIs and their use in both existing and new policy-related areas of activity3. The combined-credit is a unique financial development tool where credit and non-repayable assistance can be requested within a single financial product. [10,13] The paper analyses the Hungarian practice using this special financial instrument with the application of information technology, both looking at the empirical evidences and seeking for an answer to the question, whether the combined utilization of financial instruments and grants is effective, useful or not, and how the different IT solutions could affect the efficiency of this financial product. It is argued in this paper that the utilization of information technology can significantly improve the effectiveness of using financial instruments. This paper has three main aims: first, to review the legislation and the approach of Member States on the utilization of financial instruments; second, to analyse current and previous forms of IT support and their impact on the efficient utilization of the above instruments; third, to make proposals for further research on the e-government-based utilization of financial instruments.

The Role of the Legal Infrastructure of Responsibility with the Participation of Consumers in the Novelization and «Digitalization» of Civil Rights Objects

2020 ◽  
Vol 11 ◽  
pp. 24-31
Author(s):  
R. N. Adelshin ◽  
Keyword(s):  
Information Technology ◽  
Civil Rights ◽  
Legal Status ◽  
Financial Assets ◽  
Financial Instruments ◽  
Federal Law ◽  
Digital Rights ◽  
The Russian Federation ◽  
Legal Infrastructure

The article deals with the provisions on changing the norms of the Civil Code of the Russian Federation on liability for new civil rights objects, for information technology, derivative financial instruments or their equivalents. The issues of liability regarding digital financial assets, digital rights, as future, new objects of civil rights on the basis of the contract are touched upon. The author analyzes the new provisions of Federal Law № 34 of March 18, 2019, as well as legislation in general and practice in terms of determining the legal status of parties to contractual relations.

Money is What Money Does

2006 ◽  
pp. 215-228
Author(s):  
Mariusz K. Krawczyk
Keyword(s):  
Information Technology ◽  
Financial Institutions ◽  
Credit Card ◽  
Electronic Money ◽  
Payments Systems

Despite of amazing progress in information technology that has taken place in recent years, the electronic money failed to live to the expectations and has made little headway into payments systems. The gap between expectations and reality is especially pronounced in Japan. The reason behind the failure of electronic money in Japan is two-fold. First, typical use of electronic money is in general rather limited as long as conventional money is required as a unit of account and a store of value for the former operation. Second, Japanese financial institutions chose very limited standards for their electronic money systems that could not compete with near the monopolistic position the credit card companies enjoy in cashless payment markets. On the contrary, Germany adopted a wide standard that fully utilises the advantages of electronic money as a medium of payment.

scholarly journals Essential aspects of electronic money in the conditions of digitalization of banking business

2020 ◽  
pp. 76-92
Author(s):  
Oleksandr Dzyublyuk
Keyword(s):  
Financial Stability ◽  
Banking System ◽  
Clear Understanding ◽  
Financial Instruments ◽  
Electronic Money ◽  
Real Money ◽  
Market Participants ◽  
Wide Range ◽  
Banking Business ◽  
Monetary Relations

Introduction. Advances in information technology and digitalization of the banking business have created the basis for the modernization of modern payment systems that operate using a wide range of new financial instruments, a special place among which belongs to electronic money. It is electronic money that is gradually replacing traditional forms of monetary relations, covering an increasing range of relationships between market participants and ensuring the movement of goods and services in each business cycle. Given the importance of money supply as a major factor influencing the dynamics of economic processes, a clear understanding of the nature of electronic money and their place and role in the modern monetary system and economy is especially important in the context of effective monetary policy and financial stability. Purpose. The aim of the study is to substantiate and systematize theoretical views on understanding the nature and basic types of electronic money, taking into account the evolution of monetary relations and the banking system, digitalization of which creates new conditions for market participants in the organization of payments using different types of financial instruments. Results. The nature of electronic money as a legal tender cannot be different from the nature of credit money, which is this tool in the country. Only those instruments of circulation and payment that are issued by the banking system of the country and have all the characteristics to regulate their circulation by the central bank should be considered real money, regardless of their material carrier. Therefore, electronic money should be defined as special electronic ways of storing monetary value in bank accounts using a technical device that can be exploited to make payments. Prospects. Necessary directions of further research of electronic money should be the development of proposals and recommendations for a clearer legislative regulation of differences between real money and their substitutes in order to ensure comprehensive protection of the interests of consumers of financial services.

scholarly journals Menakar Kesyariahan Fintech Syariah di Indonesia

2020 ◽  
Vol 14 (1) ◽  
pp. 1-18
Author(s):  
Fathul Aminudin Aziz
Keyword(s):  
Information Technology ◽  
Personal Finance ◽  
Theory And Practice ◽  
Financial Industry ◽  
Electronic Money ◽  
Wealth Management ◽  
Development And Utilization ◽  
Financial Technology

The development of information technology penetrated into all financial sectors, including sharia financial technology (Fintech). OJK as a regulator of the financial industry has issued regulations, to anticipate the development and utilization of IT in the financial industry such as lending, personal finance, crowdfunding, electronic money, investment investments, payment gateways, wealth management, and various other startups. Shari'ah literacy needs to be improved by giving an understanding that shari'ah is label and nature, theory, and practice, so halal is measured by how many elements of sharia are fulfilled. As for the elements of Islamic fintech in Indonesia, among others, accountability, transparency of information, fairness, equality, social piety, avoidance of transactions that are reckless, maysir, gharar, risywah, tadlis, israf, and halal. different amounts depending on how much the shari'a element is fulfilled. The greater the halal dose is fulfilled, the greater the halal, and vice versa the smaller the halal element is fulfilled, the smaller the halal value of its fintech transactions.

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