National Digital Currency: a Look into the Future

2020 ◽  
Vol 144 ◽  
pp. 68-73
Author(s):  
Vladimir V. Grigor’ev ◽  
Keyword(s):  
Legal Framework ◽  
Domestic Economy ◽  
Advantages And Disadvantages ◽  
Digital Currency ◽  
Blockchain Technology ◽  
The Future

The author argues on advisability of introducing in our country a new virtual national digital currency that operates on the basis of blockchain technology, which will significantly develop the domestic economy. The article provides a definition and identifies certain types of virtual digital currency, shows its advantages and disadvantages, gives a description of the legal framework for the use of virtual digital currency, briefly highlights the experience of its application in our country and abroad, shows its cost capitalization at present. Particular attention is paid to the mechanism of the national digital currency functioning in our country with participation of government bodies.

scholarly journals National Digital Currency as a Factor of the Russia’s Economic Revival

2019 ◽  
Vol 12 (1) ◽  
pp. 30-36 ◽  
Author(s):  
V. V. Grigoriev
Keyword(s):  
Legal Framework ◽  
Domestic Economy ◽  
Goods And Services ◽  
Paper Money ◽  
Advantages And Disadvantages ◽  
Digital Currency ◽  
Blockchain Technology ◽  
Current State ◽  
The Government ◽  
Definition Of

The past decade has highlighted the increasing role of virtual electronic digital currency in the financial sphere. This currency is now performing the functions of investment, storage and accumulation rather than solely the function of measuring the value of goods and services. Thus, the virtual digital currency has come to implement all basic functions of paper money.The purpose of the paperwas to put forward the thesis of the feasibility of introduction in Russia of a new virtual national digital currency operating on the basis of the blockchain technology, which will significantly revitalize the domestic economy. The paper provides the definition of the virtual digital currency and its types, discusses its advantages and disadvantages, gives a brief overview of the experience of using this currency in Russia and abroad, shows the current state of cost capitalization of the virtual digital currency and describes the legal framework for the virtual digital currency application. The paperconcludesthat rather than forbidding the crypto currency, there are all the reasons to arrange the issue and circulation of an officially accepted type of a virtual national digital currency that would give a powerful impetus to the development of all spheres of the country’s economy. Special attention is paid to the mechanism of the national digital currency operation with the government participation. Every citizen will be able to get a salary in a few seconds, buy everything he wants, invest in any project. Records of transactions in the user’s personal digital electronic purse will completely relieve him of paperwork. It is important to note that blockchain protocols do not allow transaction canceling or compulsory change of ledger entries. This means that all transactions will become safe and anonymous, and anonymity cannot be violated if only by illegal operations. This will suit all law-abiding citizens of the country. The advantages of the national digital currency will ensure its wide circulation in the country and lead to significant shrinking of the “gray” and “dark” cryptocurrency markets and revival of the domestic economy.

scholarly journals CONCEPT OF VIRTUAL CURRENCIES IN MODERN ECONOMIES

2018 ◽  
Vol 1 (10) ◽  
pp. 63
Author(s):  
Inta Kotane
Keyword(s):  
Future Development ◽  
Early Stage ◽  
Legal Framework ◽  
Legal Regulation ◽  
Scientific Publications ◽  
Virtual Currency ◽  
Blockchain Technology ◽  
Stage Of Development ◽  
The Future ◽  
The Media

In recent years, development of blockchain technology and virtual currencies (VCs) have been followed not just by the media and industry professionals all over the world – there rarely could be found a person who has not ever heard the term ‘bitcoin’. Despite the popularity of VCs, there is a lack of comprehensible information in the Latvian language about what the virtual currency (VC) is, as well the concepts of digital and VCs are often misused as synonyms. The research is based on the analysis of special literature and scientific publications on the system of VCs. The aim of the research: to explore the concept of VCs in the modern economy. General scientific research methods are used in the research: the method of monographic or descriptive research, the comparative analysis method for studying the concept of VCs, the classification, legal regulation, and future development possibilities. The results of the research show that VCs are a type of digital currency, though, the opposite statement is not correct. Thus, all VCs are digital, but not all digital currencies are virtual. Exploration of the legal framework of VCs suggests that it is at an early stage of development. With the increasing number of VCs and along with strengthening of the legal framework of VCs, the issue of possible directions of the future development of VCs is raised. Two points of view dominate: the future currency or payment system, for example, smart contracts.

Prospects of Using Virtual Currencies for the Socio-Economic Development of the Country

2018 ◽  
Vol 11 (4) ◽  
pp. 54-59
Author(s):  
M. N. Prokofiev ◽  
E. S. Borisova ◽  
A. V. Vorobyeva
Keyword(s):  
Economic Development ◽  
Virtual Currency ◽  
Fiat Money ◽  
Advantages And Disadvantages ◽  
Blockchain Technology ◽  
Key Characteristics ◽  
Crypto Currency ◽  
Socio Economic Development ◽  
The Future

The subject of research is the influence of virtual currencies on the socio- economic development. The purpose of research was to determine the specific features and development prospects of virtual innovation currencies as currencies of the future. The paper analyzes the virtual currency as a phenomenon of the modern payment system. The key characteristics of the crypto currency, their difference from the fiat money, the interrelation with the blockchain technology are indicated. The dynamics of the crypto currency market capitalization is demonstrated by a bitcoin example. The reasons for the attractiveness of the virtual currency for consumers and the growth of its popularity are revealed. The role of the new currency in the development of the world economy is described. The main advantages and disadvantages of the virtual currency as well as the main threats when using it are highlighted. Two opposing views on the future of the crypto currency are considered. As a result, the role of the virtual currency in the socio-economic development of the state is outlined, the prospects for using the currency in question are forecasted, and the factors contributing to its development are listed. It is concluded that virtual currencies established and distributed as a function of time and speed of introduction of scientific and technical achievements in the financial sphere are a technical and economic innovation of the present.

scholarly journals FUTURE OF CRYPTOCURRENCIES AND BLOCKCHAIN TECHNOLOGY IN FINANCIAL MARKETS

2019 ◽  
Vol 1 (1) ◽  
Author(s):  
Goran Radivojac ◽  
Miloš Grujić
Keyword(s):  
Financial Markets ◽  
International Business ◽  
Rational Behavior ◽  
Advantages And Disadvantages ◽  
Blockchain Technology ◽  
The Future ◽  
International Payment ◽  
The Cost ◽  
The Impact

In this paper we are presenting scopeand restrictions on the use of cryptocurrencies in internationalbusiness, banking and in financial marketsThe subject of this research is to analyzeutilization of cryptocurrencies in the internationalbusiness. The goals of the research are to provide tothe researchers and to practitioners and to the scientificand professional public, an overview of currentresearch on blockchain technology in the economyand to determine the impact of the wider use of cryptocurrenciesin international business and their impacton the future of financial markets..The researchwas realized by the method description, literatureanalysis and conducted research. The selected examplesare presenting the possibility of earning, buyingand storing cryptocurrencies, paying with cryptomoneyand invest in them. In the paper we aresearching for an answer to the question “What arethe advantages and disadvantages of using cryptocurrenciesin international payment and what is the securityof using cryptocurrencies in the future?” In theanswer, this paper will present in what direction theuse of crypts will develop in the future. Results arepresenting the blockchain technology, though backgroundtechnology, which would not be known thatcryptocurrencies did not gain popularity, has a brightperspective. Conclusion presents that as long as thetransaction costs are lower than the cost of paymenttransactions, the rational behavior of legal and naturalpersons requires that they should encourage the useof cryptocurrencies among themselves in order to reducethe costs of the transactions when paying and toovercome the existence of an intermediary.

scholarly journals The Challenge of Cryptocurrency in the Era of the Digital Revolution: A Review of Systematic Literature

2020 ◽  
Vol 2 (2) ◽  
pp. 153-159
Author(s):  
Izwan Amsyar ◽  
Ethan Christopher ◽  
Arusyi Dithi ◽  
Amar Najiv Khan ◽  
Sabda Maulana
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Third Party ◽  
Virtual Currency ◽  
Digital Revolution ◽  
Human Needs ◽  
Advantages And Disadvantages ◽  
Digital Currency ◽  
Blockchain Technology ◽  
Physical Form

Money is clearly a primary need of every human being that cannot be avoided, human needs can be realized by using money. Seeing from the lack of systematic literature review papers discussing cryptocurrency, this is a challenge as well as the main purpose of this paper. Along with the development of modernization and globalization which has now entered the industrial era 4.0 revolution there is a blockchain based technology, Cryptocurrency. Cryptocurrency is one of the developments of the blockchain that is often used as a decentralized digital currency. The word Cryptocurrency means a virtual currency that has no physical form, and Cryptocurrency also means that the transaction currency cannot be seen and is safe. This digital currency has many types such as Bitcoin, Ethereum, Litecoin, Monero, and many other types. Although it has no physical form, this currency functions the same as conventional currencies in general and has an exchange rate. Exchange rates on Cryptocurrency fluctuate which means unexpected, this is often exploited by traders. Cryptocurrency transactions in the form of forwarding from one individual to another individual online, therefore they deal directly without a third party. Every technology has advantages and disadvantages aside from efficiency and convenience, Cryptocurrency has the disadvantage of not having the authority responsible for dealing with all problems that occur in all transactions, and money laundering crimes also often occur, this is a challenge for how to utilize Cryptocurrency and blockchain technology in the current era of globalization. 

scholarly journals Digital Currencies from the Perspective of Jurisprudence and Law

2021 ◽  
Vol 8 (3) ◽  
pp. 88
Author(s):  
Morteza Chitsazian ◽  
Zahra Khorsandi
Keyword(s):  
Virtual Space ◽  
The Internet ◽  
Research Projects ◽  
Payment Systems ◽  
Profound Change ◽  
Advantages And Disadvantages ◽  
Digital Currency ◽  
The Future ◽  
Theoretical Foundations ◽  
Simple Nature

The emergence of digital currencies has drawn a great deal of attention in research projects. Digital currency is a type of money in virtual space that are born on the Internet ground. Along with the introduction of digital currencies in the economy, we have seen a profound change in payment systems that may change the future of money. Digital currencies are money in nature and considered as a property in jurisprudence. According to studies, emergence, extraction, and framework or digital currencies are free of any jurisprudence impediment. Based on theoretical foundations, digital currencies are property and money and given their ambiguities and shortages and the administrative jurisprudence approach, digital currencies may not be approved by the religion while the ambiguities are not solved. Jurisprudence rules namely no damage, destruction and the rule of negation of domination (the sovereignty of non-Muslims on Muslim is not acceptable) are the key rules that limit the extent to which digital currencies are acceptable. At the beginning, digital currencies appear as highly complicated and ambiguous, while, they actually have a simple nature. The essence of digital currencies is not clear despite different opinions stated about them and advantages and disadvantages. The present study is an attempt to introduce efficient strategies to use digital currencies and solve many of the disadvantages. 

Can trust become a factor of economic growth? Dynamic changes in the level of trust of Russian youth

2020 ◽  
pp. 92-107 ◽  
Author(s):  
A. I. Bakhtigaraeva ◽  
A. A. Stavinskaya
Keyword(s):  
Institutional Environment ◽  
Negative Effects ◽  
Dynamic Changes ◽  
Generalized Trust ◽  
Level Of Education ◽  
Advantages And Disadvantages ◽  
The Future ◽  
Analysis Of Dynamics

The article considers the role of trust in the economy, the mechanisms of its accumulation and the possibility of using it as one of the growth factors in the future. The advantages and disadvantages of measuring the level of generalized trust using two alternative questions — about trusting people in general and trusting strangers — are analyzed. The results of the analysis of dynamics of the level of generalized trust among Russian youth, obtained within the study of the Institute for National Projects in 10 regions of Russia, are presented. It is shown that there are no significant changes in trust in people in general during the study at university. At the same time, the level of trust in strangers falls, which can negatively affect the level of trust in the country as a whole, and as a result have negative effects on the development of the economy in the future. Possible causes of the observed trends and the role of universities are discussed. Also the question about the connection between the level of education and generalized trust in countries with different quality of the institutional environment is raised.

Research Situation Analysis of On-line Detection Technology for Power Transformer Winding Deformation

2020 ◽  
Vol 13 (6) ◽  
pp. 823-832
Author(s):  
Zhenhua Li ◽  
Weihui Jiang ◽  
Li Qiu ◽  
Zhenxing Li ◽  
Yanchun Xu
Keyword(s):  
Detection Method ◽  
Theoretical Research ◽  
Line Detection ◽  
Response Analysis ◽  
Advantages And Disadvantages ◽  
Detection Technology ◽  
The Future ◽  
Transformer Winding ◽  
On Line ◽  
Winding Deformation

Background: Winding deformation is one of the most common faults in power transformers, which seriously threatens the safe operation of transformers. In order to discover the hidden trouble of transformer in time, it is of great significance to actively carry out the research of transformer winding deformation detection technology. Methods: In this paper, several methods of winding deformation detection with on-line detection prospects are summarized. The principles and characteristics of each method are analyzed, and the advantages and disadvantages of each method as well as the future research directions are expounded. Finally, aiming at the existing problems, the development direction of detection method for winding deformation in the future is prospected. Results: The on-line frequency response analysis method is still immature, and the vibration detection method is still in the theoretical research stage. Conclusion: The ΔV − I1 locus method provides a new direction for on-line detection of transformer winding deformation faults, which has certain application prospects and practical engineering value.

Latest Research and Developing Tendency of Hyperbranched Polymers Fabrication

2021 ◽  
Vol 896 ◽  
pp. 45-50
Author(s):  
Lian Yi Huo ◽  
Xue Tao Shi ◽  
Si Ming Chen ◽  
Meng Yao Zhang
Keyword(s):  
Reaction Mechanism ◽  
Ring Opening ◽  
Hyperbranched Polymers ◽  
Ring Opening Polymerization ◽  
Synthesis Process ◽  
Future Research ◽  
Advantages And Disadvantages ◽  
Environmental Friendly ◽  
High Efficient ◽  
The Future

Hyperbranched polymers (HBPs) have been applied in various fields because of its outstanding biodegradability and biocompatibility. At present, there are a variety of methods that are used to fabricate HBPs, such as polycondensation, reactive polymerization and ring-opening polymerization according to reaction mechanism. These methods are all environmental-friendly and high-efficient to generate HBPs, and are valuable for industrialization. In this work, we conclude some common methods of HBPs fabrication and make the comparison between them to analyze their advantages and disadvantages, which contribute in how to improve the synthesis process in the future research.

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