Empirical assessment of the impact of blockchain technologies upon effective development of the banking system

2020 ◽  
pp. 105-116
Author(s):  
Marat Rashitovich Safiullin ◽  
Rafis Timerkhanovich Burganov ◽  
Leonid Alekseevich El'shin ◽  
Aliya Aidarovna Abdukaeva
Keyword(s):  
Financial Market ◽  
Russian Federation ◽  
National Economy ◽  
Financial Management ◽  
Banking Sector ◽  
Banking System ◽  
Practical Significance ◽  
The Russian Federation ◽  
Effective Development ◽  
The Impact

This article is dedicated to studying the problems and prospects in development of financial market of the national economy of the Russian Federation in the conditions of globalization and integration of FinTech technologies. Consideration of potential risks and consequences of their usage in economic activity would contribute to substantiation of the key strategic vectors in development of the financial market and national economy overall. Methodological framework contains positions of the theory of strategic management, financial management, and procedural approach. Peculiarities of determination of the parameters of financial sector development within the framework of scenario forecasting of integration of blockchain technologies into the banking system are revealed using the set of methods of systemic, complex, logical, comparative and economic-mathematical modeling. Based on assessment of the emerging effects caused by integration of distributed data storage technologies into the system operational processes of credit institutions, the author carries out a formalized assessment of development prospects of the banking sector in new institutional conditions of the economy. The theoretical and practical significance of the research consists in substantiation of the need for activation of the processes of integration of blockchain technologies into the financial system of national economy, which allows increasing sustainability and effective development of its participants, as well as ensuring the growth of global economic competitiveness for decades to come. The scientific novelty consists in proposal of an algorithm for assessing macroeconomic effects as a result of integration of blockchain technologies into the banking sector. The author builds the models that assess the impact of operational and credit risks upon the key parameters of financial performance of the banking sector of the Russian Federation.

scholarly journals Analyzing Impact of Computer Attacks on the Banking System of the Russian Federation

2019 ◽  
pp. 202-210
Author(s):  
A. A. Salcutan
Keyword(s):  
Russian Federation ◽  
Banking Sector ◽  
International System ◽  
Banking System ◽  
Russian Economy ◽  
Computer Attacks ◽  
The Russian Federation ◽  
The Impact ◽  
Swift System

The article analyzes damage caused by attacking finance organizations in the Russian Federation through activization of hacker groups. The mentioned attacks were mainly directed at banking cards’ processing, cash machines and the SWIFT system, an international system of transmitting finance information and payments. The growth in hacker penetrations can be seen in all sectors of Russian economy, it is based on informational confrontation and aims at destabilization of considerable objects of critical information infrastructure. Today special attention is paid to attacks of hacker groups, which get financing from states and criminal groupings in order to exert influence on the leading banks of the world. The author investigated the key methods of attacks of finance organizations. The role of the Federal service on technical and export control and the Department of information security of the Bank of Russia was described. By assessing the impact of computer attacks the author came to the conclusion that the Russian banking sector is vulnerable to computer attacks on informational systems that could cause damage not only to small but also big credit organizations, which possess over 60% of the Russian banking sector assets.  

scholarly journals ASSESSING THE IMPACT OF BLOCKCHAIN TECHNOLOGIES ON CREDIT RISKS IN THE BANKING SECTOR OF THE RUSSIAN FEDERATION

2020 ◽  
Vol 6 (2) ◽  
pp. 148-167
Author(s):  
Marat R. SAFIULLIN ◽  
Leonid A. ELSHIN ◽  
Aliya A. ABDUKAEVA
Keyword(s):  
Data Storage ◽  
Russian Federation ◽  
National Economy ◽  
Banking Sector ◽  
Economic Effects ◽  
Theoretical Understanding ◽  
Credit Risks ◽  
The Subject ◽  
The Russian Federation ◽  
The Impact

Despite the very high interest on the part of international and national financial institutions, enterprises of the real sector of the economy in distributed data storage technologies, studies on the problems of assessing the use of the potential of blockchain platforms in the socioeconomic environment, their theoretical understanding can be met not so often. Existing works, as a rule, reveal either the technical side of the object of study, or the regulatory aspects of the applicability of blockchain technologies in the national economy. In this regard, in order to fill in questions revealing other aspects of the subject of the study, for example, such as an empirical assessment of the economic and social effects of the introduction of blockchain technologies in the activities of business entities, an attempt is made in this paper to overcome this conditional vacuum. The banking sector of the national economy of the Russian Federation was chosen as the object of research. The subject of the study is the relationship built between participants in the financial market on the basis of blockchain technologies, and the resulting effects expressed in the potential to reduce credit risks of banks due to non-fulfillment, untimely or incomplete fulfillment of financial obligations by debtors. In the course of the study, the main directions that reduce the risks under consideration, as a result of minimizing opportunistic models of behavior, are substantiated, possible economic effects for the Russian banking system as a result of the use of blockchain technologies are identified. The most important result of the work is the developed algorithm for determining the parameters for reducing the reserved capital for credit risks as a result of the penetration of blockchain technologies into the banking environment.

scholarly journals Antitrust regulation in the market of banking services

2019 ◽  
pp. 60-67
Author(s):  
A. D. Bartsits
Keyword(s):  
Financial Market ◽  
Russian Federation ◽  
Banking Sector ◽  
Banking System ◽  
The State ◽  
Banking Services ◽  
The Russian Federation ◽  
Antitrust Regulation ◽  
And Control

The article considers the financial market as an object of antitrust regulation and control, the banking services market. The importance of conducting antimonopoly control in the banking sector is given. The state of the banking system, as well as competition in the banking services market is analyzed. The interaction of two control bodies — the FAS of the Russian Federation and the Bank of Russia is given.

scholarly journals The Influence of the Digitalization of the Banking System on the Transformation of Cash and Money Circulation in the Russian Federation

2021 ◽  
pp. 55-68
Author(s):  
Yuri N. Bazhenov ◽  
Svetlana T. Rumiantceva
Keyword(s):  
Russian Federation ◽  
Banking Sector ◽  
Banking System ◽  
Financial System ◽  
Digital Technologies ◽  
Cash Flows ◽  
Digital Economy ◽  
Statistical System ◽  
The Russian Federation ◽  
The Impact

The purpose: to investigate the impact of digital technologies in the banking sector on the transformation of cash circulation in the Russian Federation.Methods: comparative-statistical, system, expert-analytical.Results: the reasons that determine the possibilities for expanding the use of non-cash payments are noted, the advantages of non-cash payments and QR payments are determined.Conclusions: the author substantiates the development and implementation of the digital economy and its impact on the control of cash flows of all counterparties of the financial system.

scholarly journals Participation of Foreign Capital in Banking System of the Russian Federation

2018 ◽  
Vol 9 (3) ◽  
Author(s):  
Larisa Tatarinova
Keyword(s):  
Russian Federation ◽  
Banking Sector ◽  
Foreign Capital ◽  
Banking System ◽  
Foreign Investments ◽  
Political Situation ◽  
The Russian Federation ◽  
National Banking System ◽  
National Practice

Changes of them political situation in the world, introduction of economic sanctions in regard to the Russian Federation have changed the situation in banking system and have had an impact on the banks activities with foreign participation. The article examines possible variants of foreign capital in the banking system of the Russian Federation, presents the foreign and national practice of the Bank of Russias regulation of foreign investments into the banking sector beginning from 1991 till present. It shows the foreign capital role in own funds (capital), in assets of the Russian Federation banking sphere, in attracting monetary funds of private and legal entities in crediting the real economic sector. It notes that against the general background of decreasing number of the credit organizations of the Russian Federation there is a decrease of the number of the banks with foreign participation, their structural subdivisions. Beginning from 2013, there is a decrease of the foreign capital share. The aggregate charter capital of the national banking system manifests negative trends and other indicators of the banks activities with foreign participation. Beginning from 2014 and up till now, the role of the banks with foreign participation in the banking sector of the Russian Federation is beginning to go down.

scholarly journals Export Potential of the National Economy: Opportunities and Limitations

2020 ◽  
pp. 103-116
Author(s):  
Evgeniy A. Gorin ◽  
Aleksandr A. Zolotarev
Keyword(s):  
Russian Federation ◽  
National Economy ◽  
Structural Changes ◽  
North West ◽  
Industrial Enterprises ◽  
Structure And Dynamics ◽  
Production Factors ◽  
The Russian Federation ◽  
The Impact ◽  
Innovation Processes

Authors consider export opportunities and the structure and dynamics of industrial export and import in the Russian Federation, Northwest Russia and St. Petersburg. The article studies structural changes in sectors of St. Petersburg economy resulting from ongoing innovation processes and their impact on export potential. It provides the results of assessing the impact of organizational, economic and production factors on export opportunities of various economic entities. Export opportunities, structure and dynamics of export and import of industrial products in the Russian Federation, the North-West region and St. Petersburg are considered. Volume of exports, imports and trade turnover in Russia in 2019, as well as the dynamics of changes in recent years are discussed. In the structure of Russia's exports in recent years, the bulk of supplies (60%) were mineral products, imports the main share of exports (over 40%) occurred in the machinery, equipment and vehicles. The high needs of the national market and the significant export potential of Russian enterprises engaged in the production of medicines and modern medical equipment are noted, which makes it possible to make a real contribution to solving important social problems and developing the national economy. The structure of exports and imports of North-West Federal district and St. Petersburg by major commodity groups, there is a saving in purchases of imported equipment combined with constant growth of exports of fuel and energy products are discussed. Structural changes in the economic sectors of St. Petersburg as a result of ongoing innovation processes and their impact on export potential are studied. The results of the assessment of the impact of organizational, economic and production factors on the export opportunities of various economic entities are presented. It is revealed that for industrial enterprises, the quality and cost of components becomes a problematic factor that hinders their development both in improving the product range and in their own technological modernization. For small and medium-sized businesses in industrial production, problems related to timely receipt of high-quality materials and products of the element base from suppliers and related companies, in most cases located abroad, are added. The role of the “Russian export center” as a state institute for supporting non-commodity exports and facilitating export operations was noted.

scholarly journals Trends in the development of the banking system in the Far North of the Russian Federation

2020 ◽  
Vol 210 ◽  
pp. 13041
Author(s):  
Lyudmila Pushkareva ◽  
Mikhail Pushkarev
Keyword(s):  
Russian Federation ◽  
National Economy ◽  
Commercial Banks ◽  
Banking System ◽  
Financial Resources ◽  
Real Sector ◽  
Political Situation ◽  
Far North ◽  
The Russian Federation

In this paper, the author summarizes the main problems that have to be solved by regional commercial banks and, in particular, banks in the Far North and equivalent territories in the current political situation and conditions of economic sanctions. The country's banking system is not adequate to the needs of the national economy and is unable to provide resources for the country's modernization. The ability of banks to finance the needs of the real sector is significantly constrained by the lack of long-term and cheap financial resources from the banks themselves.

scholarly journals Cluster analysis of the impact of blockchain technologies upon the development of the sectors of national economy

2021 ◽  
pp. 15-28
Author(s):  
Marat Rashitovich Safiullin ◽  
Azat Rafikovich Sharapov ◽  
Leonid Alekseevich Elshin
Keyword(s):  
Cluster Analysis ◽  
Russian Federation ◽  
National Economy ◽  
Economic Activity ◽  
Business Models ◽  
Value Added ◽  
Economic Environment ◽  
Economic Sectors ◽  
The Russian Federation ◽  
The Impact

Prospects for the development of national economy in the context of integration of blockchain technologies into the system of economic processes testify necessitate elaboration of the methods and algorithms for formalized assessment of their impact upon the key parameters of socioeconomic dynamics. If within scientific-and-expert space, one may occasionally come across the works dedicated to separate aspects of this scientific methodological problem, the questions of the impact of blockchain technologies upon individual economic sectors are yet to be explored within the information-analytical and scientific space. The methods of empirical research of the impact of blockchain technologies upon the parameters of economic development currently did not find their consolidated solution, and are of fragmentary nature. This research is an attempt to strengthen the positions of formalized approaches towards examination of the articulated scientific and practical problem. The subject of this research is the economic relations of economic agents pertaining to implementation of blockchain technologies in the economic activity and formation of the new business models. The object is the types of economic activity of the national economy of the Russian Federation and their sensitivity to the diffusion of blockchain technologies. The article offers an algorithm for studying the dynamics of gross value added of the economic sectors of the Russian Federation through the prism of possible transformation of the key parameters of functionality of the financial and real sectors of the economy as a result of diffusion of blockchain technologies. Leaning on the advanced hypotheses, the author builds co-integration models for the indicated types of economic activity, which reveal the contribution of exogenous factors that are being adjusted under the pressure of infiltration of the distributed data storage technologies into the economic environment to the degree of incremental value added. This allows conducting cluster analysis of the economic sectors under review in accordance of their sensitivity to institutional changes caused by integration of the blockchain technologies into the economic environment.

THE CREATION OF THE UNION STATE OF RUSSIA AND BELARUS: ASSESSMENT OF THE SECURITY OF THE NATIONAL ECONOMY OF THE RUSSIAN FEDERATION

2020 ◽  
Vol 1 (10) ◽  
pp. 117-127
Author(s):  
D. V. GORDIENKO ◽  
Keyword(s):  
Russian Federation ◽  
National Economy ◽  
Methodological Approach ◽  
Economic Cooperation ◽  
Economic Security ◽  
The Russian Federation ◽  
The Creation ◽  
National Economies ◽  
Integration Project ◽  
The Impact

The creation of the Union State of Russia and Belarus can change the level of protection of the national economy of the Russian Federation from external and internal threats. This change is due to the transformation of the ratio of economic cooperation and economic confrontation between our state and Belarus. The purpose of this article is to assess the impact of the implementation of the integration project of Russia and Belarus on the protection of the national economy of the Russian Federation from external and internal threats. The paper considers the impact of the creation of the Union State of Russia and Belarus on the security of the national economy of the Russian Federation. For the assessment, the author's methodological approach was used, based on the consideration of various forms of ensuring the economic security of the state. An approach to assessing the level of economic security of the Russian Federation under various options for creating the Union State of Russia and Belarus is proposed. The importance of economic cooperation and economic confrontation with Belarus for ensuring the economic security of Russia is analyzed. The proposed approach to a comparative assessment of the level of economic security in Russia makes it possible to identify the priorities of economic cooperation and economic confrontation in the creation of the Union State of Russia and Belarus. The results of assessing the level of economic security of the Russian Federation under various options for creating the Union State of Russia and Belarus can be used to substantiate the strategy for the implementation of this integration project until 2025. It is concluded that the political structure of the Union State should correspond to the existing mutual integration ties of the national economies of our countries.

SOCIAL RESPONSIBILITY OF COMMERCIAL BANKS IN MODERN CONDITIONS OF DEVELOPMENT OF THE RUSSIAN BANKING SYSTEM

2016 ◽  
Vol 11 (1) ◽  
pp. 49-56
Author(s):  
Иванова ◽  
Anna Ivanova
Keyword(s):  
Social Responsibility ◽  
Russian Federation ◽  
Commercial Banks ◽  
Banking Sector ◽  
Banking System ◽  
Strategy Of Development ◽  
The Social ◽  
The Russian Federation

This article is devoted to the study of social responsibility of commercial banks. The author discusses the main challenges, mechanisms and trends in the development of social responsibility of the banking sector. Results of the research allow to conclude that the principles of social responsibility is currently not fully implemented in the strategy of development of domestic commercial banks, and the level of social responsibility of commercial banks is still quite low, as the level of trust of Russians to banks. The article examines some essential aspects of the development and formation of the social responsibility of commercial banks in the Russian Federation.

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