Bitcoins within Georgia’s Money Laundering Scheme

2017 ◽  
Vol 9 (1) ◽  
pp. 9
Author(s):  
Aleksandre Mikeladze
Keyword(s):  
Central Bank ◽  
Money Laundering ◽  
Global Economy ◽  
Developed Countries ◽  
Current Situation ◽  
Innovative Technology ◽  
Electronic Money ◽  
Virtual Currency ◽  
The World ◽  
Bank System

Bitcoins’ technology brings a new level of innovation to business and communication across the world. However, the advantages of a virtual currency payment system face the threat from criminal activities occurring over a pseudonymous network where there is virtually no current regulation to cover illegal transactions. The current situation in Georgia is as follows: the second Bitcoin’s processing datacenter has opened in Georgia. While the virtual money is new even in developed countries, more unusual it is for Georgia, where local economists are more skeptical toward cryptocurrency. Therefore, they believe that electronic money is not controlled by any central bank that gives a lot of opportunities for illegal transactions. According to the Georgian experts, bitcoin is a very risky currency that can be used for money laundering, as it is completely uncontrolled. However, the Georgian central bank system claims that bitcoins are not dangerous, and the lack of awareness gives rise to talk about money laundering. The biggest challenge seems to be regulation of Bitcoin without hindering the potential for growth. While there is usually certainly a chance that Bitcoin could fail or be pushed out of existence by a more innovative technology, policymakers must be careful not to hinder a technology that could change the way global economy functions.

Conditions for the Hi-tech Complex Development

2003 ◽  
pp. 26-39
Author(s):  
V. Maevsky ◽  
B. Kuzyk
Keyword(s):  
Economic Development ◽  
Central Bank ◽  
Developed Countries ◽  
Industrial Society ◽  
Monetary Base ◽  
Complex Development ◽  
Bank System ◽  
Post Industrial

A project for the long-term strategy of Russian break-through into post-industrial society is suggested which is directed at transformation of the hi-tech complex into the leading factor of economic development. The thesis is substantiated that there is an opportunity to realize such a strategy in case Russia shifts towards the mechanism of the monetary base growth generally accepted in developed countries: the Central Bank increases the quantity of "strong" money by means of purchasing state securities and allocates the increment of money in question according to budget priorities. At the same time for the realization of the said strategy it is necessary to partially restore savings lost during the hyperinflation period of 1992-1994 and default of 1998 and to secure development of the bank system as well as an increase of the volume of long-term credits on this base.

A Study on the Economic Benefits of Globalization: Focusing on the Poverty and Inequality between the Rich and the Poor

2009 ◽  
Vol 12 (2) ◽  
pp. 191-214 ◽  
Author(s):  
Sang-Hyup Shin
Keyword(s):  
Developing Countries ◽  
Global Economy ◽  
Developed Countries ◽  
Economic Benefits ◽  
Global Poverty ◽  
The Poor ◽  
Poverty And Inequality ◽  
The World ◽  
The Rich ◽  
The Developed Countries

Globalization is now well recognized by many as an inescapable feature of the world today. In particular, in the middle of global economic crisis globalization is one of the hot issues drawing much attention from countries around the world. There are contradictory perspectives on globalization. There are many sweeping statements that assert that economic globalization is increasing global poverty and inequality between the rich and the poor in the world. There are also many others who insist that the poverty and inequality issues have been resolved in some sense through globalization. In order to find the answer to the question, firstly the meaning of globalization was fully explained. Based on the understanding of globalization, the questions such as how globalization has contributed to reduce the economic gap between the developed and the developing countries, and to reduce the poverty by analyzing the economic growth, the number of people living below the absolute poverty line and so on were analyzed. The reasons why globalization is a good opportunity for some countries while some other countries get not something from the globalization was also discussed in this research. We found that globalization has contributed to reduce global poverty and to increase the welfare of both the developed and developing countries. However globalization has impacted different groups differently. Some have benefited enormously, while others have borne more of the costs. The developed countries could get more economic benefits from the less developed countries through globalization. This means, inequality between the rich and the poor countries still remained as a serious threat in the global economy. And even among the developing countries globalization has impacted differently. The trends toward faster growth and poverty reduction are strongest in developing economies that have integrated with the global economy most rapidly, which supports the view that integration has been a positive force for improving the lives of people in developing countries There are two main reasons for the inequality existing between the developed and developing countries. The fist one is the difference of economic size and power between the developed countries and the developing countries started to exist from the late 18th century. The second one is the differences in the management skill in taking advantage of the globalization.

scholarly journals Rethinking Pakistan’s Development Strategy

2008 ◽  
Vol 13 (Special Edition) ◽  
pp. 47-62
Author(s):  
Naved Hamid
Keyword(s):  
Development Strategy ◽  
Global Economy ◽  
Final Section ◽  
Development Strategies ◽  
Current Situation ◽  
Economic Environment ◽  
Alternative Development ◽  
The Third ◽  
The World ◽  
World Economic

The objective of this paper is to set out the key components of a development strategy for Pakistan. A fundamental premise of our analysis is that the world economic environment is changing dramatically and a development strategy today must position itself to take advantage of the changes taking place. The paper is divided into five sections: First, we provide a brief review of Pakistan’s experience with development strategies so far. Next, we discuss the changes that have occurred, or are taking place in the global economy, which have strategic relevance for Pakistan. In the third section we look at the current situation in Pakistan with regard to the potential drivers of growth, based on the earlier discussion of the global developments. In the final section key elements of an alternative development strategy for Pakistan are outlined.

scholarly journals How Does the Global Economy Crisis Influence in Managing Investment in Indonesia

The Winners ◽  
2012 ◽  
Vol 13 (2) ◽  
pp. 147
Author(s):  
Enggal Sriwardiningsih
Keyword(s):  
Developing Countries ◽  
Emerging Markets ◽  
Global Economy ◽  
Developed Countries ◽  
Subprime Mortgage ◽  
Poor Countries ◽  
Mortgage Crisis ◽  
The World ◽  
Liquidity Crisis ◽  
Growing Economy

July 2007 is the beginning of the world’s subprime mortgage crisis. Since then, the world’s liquidity crisis occurred and never found any solution until now. The liquidity crisis began to spread from developed countries to poor countries, developing countries and emerging markets with two channels. This contagious crisis made growing economy and emerging economy fell. No country in the world survived, including Indonesia. This paper discussed the management of investments in Indonesia. It started from the spread of global crisis to Indonesia and its impact on investment in Indonesia. Then, we discussed the government's efforts to encourage investment. The last was the view of the investment for the next three years (2010-2014)

scholarly journals Research on the legal status of the national digital currency Karbo: the state and the prospects

2019 ◽  
pp. 11-15
Author(s):  
Larysa OSTROVERKH ◽  
Yurii SHANDRENKO
Keyword(s):  
Legal Status ◽  
Market Price ◽  
The State ◽  
Electronic Money ◽  
Virtual Currency ◽  
Global Trends ◽  
Economic Relations ◽  
The World ◽  
National Bank ◽  
The Relationship

The article explores the phenomenon of the development of virtual currencies and their growing popularity, resulting in a natural imbalance when innovations in the field of economy outstripped the development of legislation governing the relationship between entities in the field of calculations and payments. This led to the lack of a common understanding of the legal status of cryptocurrency and the methods of its regulation at the current stage of economic relations and global technologies, which caused the world community the problem of determining the legal status of cryptocurrency, which arose from the evolution of money and the emergence of new structured financial products. For Ukraine, as for most countries in the world, the global digital economy remains an area with undiscovered potential, since the National Bank of Ukraine does not recognize cryptocurrencies with either electronic money, money surrogates or other legal means of payment and does not recommend using them as such, but, in addition, it does not prohibit their use. Evidence of NBU's desire to keep up with current global trends was the emergence in May 2016 of the first Ukrainian «Karbowanec» cryptocurrency (after the Karbo rebranding in September 2017), which prompted many financial agents to ask whether – «Can you trust Karbo?» and «What is Karbo better than other cryptocurrencies?». Karbo is positioned as an alternative to low volatility settlement, designed for calculations and real use with new cryptocurrency ways of regulating money supply and market price. However, the question remains open – should the state recognize cryptocurrency as a digital (virtual) currency, or as a means of exchange or payment, or as other digital or intangible assets, or as property rights, etc., to introduce a method of accounting and regulate the system of taxation of transactions with it?

scholarly journals THE EFFECT OF POLICIES OF THE RBI ON ISSUING NEW BANK LICENCES FROM POST NATIONALISATION OF BANKS IN INDIA

2021 ◽  
pp. 29-36
Author(s):  
Dr.K.Thirumamagal
Keyword(s):  
Private Sector ◽  
Central Bank ◽  
Regulatory Authority ◽  
The Other ◽  
Innovative Technology ◽  
Paper Study ◽  
Economic Stability ◽  
Regulatory Authorities ◽  
The World

In this modern scenario, Finance has become the foremost basic necessity in order to acquire the other necessities of life. The prominent financial sector are regulated by different regulatory authorities with a prime motto of protecting the interest of the customers and to uplift the weaker sections of the society. Since this strife-torn world is full of conflicts, corruption which has affected the economic stability of the state, the regulatory authorities should seriously analyze the effect of licenses going to be provided in 2014 and also it has to take in to account that the empires down the history have been known to get built only to be lost subsequently. The objective of this study is to impart the essential standards the banks of India should possess and also the challenges going to be faced by our economy due to the reckless decision of the regulatory authority. The need of this study is to safeguard the customers of us from the unscrupulous businessmen. This paper study the role of central bank and to analyze the result of providing license to the private sector, particularly the corporate houses, which is not practiced anywhere in the world. KEY WORDS: Corporates, Banks, Finance, Non Performing Asset, innovative, technology, Licenses, RBI

Perceptions of Factors Influencing Knowledge-based Technology Management in Conflict Areas

2010 ◽  
pp. 294-307
Author(s):  
Ian Hipkin
Keyword(s):  
Technology Management ◽  
Global Economy ◽  
New Technology ◽  
Developed Countries ◽  
Least Developed Countries ◽  
Knowledge Based ◽  
The World ◽  
Technological Base ◽  
And Control ◽  
The Relationship

A challenge for developing countries is to enter the global economy. This is impeded by weak infrastructure, poor educational and other formidable barriers as these countries embark on essential projects to improve living standards and ultimately create some sort of technological base. This chapter describes perceptions of knowledge-based technology management in Afghanistan, one of the poorest and least developed countries in the world. Afghanistan’s politics and history have always confronted managers with unique demands. The chapter examines the perceptions of Afghan managers regarding technology management by studying the relationship between the importance of different factors in managing new technology, and the extent to which a manager can control them. An importance-control grid framework is used to isolate individual parameters and to assess these in relation to a manager’s environment. The research highlights imbalances between importance and control, and suggests reasons therefore. Some broader implications for managers are also discussed.

World Trade Organization and BRICS

2020 ◽  
pp. 63-92
Author(s):  
Martin Daunton
Keyword(s):  
International Trade ◽  
World Trade Organization ◽  
World Trade ◽  
Global Economy ◽  
Developed Countries ◽  
Second World War ◽  
Industrial Countries ◽  
The World ◽  
International Trade Organization ◽  
Second World

The World Trade Organization emerged from the Uruguay Round of 1986 to 1994 and covered development as well as trade—an ambition that had been attempted after the Second World War and the abortive attempt to create an International Trade Organization. Instead, a narrower General Agreement on Tariffs and Trade emerged. The failure of the International Trade Organization arose in part from the different ambitions of less developed or primary producing countries that were not acceptable to advanced industrial countries. The General Agreement on Tariffs and Trade faced continued pressure from the less developed countries, in particular from the United Nations Conference on Trade and Development which put forward a different approach to the global economy and issues of distributive justice. This chapter explains the different approaches and the responses of the more advanced countries.

Trends In Concentration Of Production And The Capital By Means Of Mergers And Absorptions In The Post-Crisis Market Environment

2012 ◽  
Vol 4 ◽  
Author(s):  
Daria Belyaeva
Keyword(s):  
Characteristic Feature ◽  
Developed Countries ◽  
Negative Influence ◽  
Market Environment ◽  
Market Conditions ◽  
Technological Production ◽  
The World ◽  
State Corporation ◽  
Production Concentration ◽  
Bank System

Processes of technological production concentration basis and capital centralization become the characteristic feature of general economic dynamics of the postcrisis period and transformation of the market sphere. Such processes dynamically develop in all developed countries of the world. Their trend depends on a lot of circumstances: market conditions, the constructive help of the state (state corporation), development of financially-bank system and etc. The author considers only the mechanism of processes of merge and absorption among all this system of concentration and characterizing their positive and negative influence on the general market conditions.

Research of Current Situation and Risk of Bitcoin

2014 ◽  
Vol 989-994 ◽  
pp. 5066-5069
Author(s):  
Yi Qing Lu
Keyword(s):  
National Policy ◽  
Current Situation ◽  
Third Party ◽  
Electronic Money ◽  
Virtual Currency ◽  
Trusted Third Party ◽  
Digital Currency ◽  
Policy Risk

Bitcoin is a pure electronic money based on cryptographic proof instead of trust. The principle of Bitcoin can allow any two willing parties to transact directly with each other without the need for a trusted third party. Bitcoin can represent a totally new anarchy virtual currency and an innovation of digital currency. But its development also needs to face to the security of national policy risk, technology risk and trading risks.

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