Determinants of digitalization on the sphere of international monetary and financial relations
DOI:
https://doi.org/10.31558/2307-2318.2020.3.14Keywords:
digitalization; digital economy; financial services; new financial technologies; international economy; cryptocurrency; blockchain technology; interbank payments; mobile transfers; supply chain financeAbstract
The article explores and substantiates the versatility of the category "digitalization". The meaning of the digital economy is revealed. The influence of digitalization on the sector of international finance is determined, the main directions of the influence of digitalization on international monetary and financial relations are highlighted. It is argued that the digital economy is changing approaches to international financial transactions: the creation and implementation of new types of currencies (cryptocurrencies) and the possibilities of their use, the features of cryptocurrencies are disclosed. The features of application of blockchain technologies, and also other means of improvement of process of realization of payments are described. In particular, the market of mobile money transfers was characterized. The use of supply chain finance and the development of platforms for the application of such technology are also explained. Incidentally, the article identifies possible risks in the use of digital technologies in the field of international financial services.
References
Коляденко С. В. Цифрова економіка: передумови та етапи становлення в Україні і у світі. Економіка. Фінанси. Менеджмент: актуальні питання науки і практики. 2016. № 6. С. 105-112.
Веретюк C. М., Пілінський В. В. Визначення пріоритетних напрямків розвитку цифрової економіки в Україні. Наукові записки українського науково-дослідного інституту зв’язку. 2016. № 2. С. 51-58.
Kit L. Z. Evoliutsiia Merezhevoi Ekonomiky. Visnyk Khmelnytskoho Natsionalnoho Universytetu. Ekonomichni Nauky. 2014. № 3. T. 2. S. 187-194.
Tapscott, Donald. 1996. The digital economy. Mcgraw-hill.
Information Communication Technology Policy / Hopestone Kayiska Chavula, Abebe Chekol, Uneca, 2011.
Calm Technologies As The Future Goal Of Information Technologies. Alexandrutugui, Encyclopedia Of Multimedia Technology And Networking, 2009.
Что такое FinTech? URL: https://finacademy.net/materials/article/fintech
SWIFT FIN Traffic & Figures URL: https://www.swift.com/about-us/swift-fin-trafficfigures/swift-fin-traffic-document-centre?category%5B0%5D=169661
Общее количество транзакций в блокчейне. URL: https://www.blockchain.com/charts/n-transactions-total
Огляд цифрових криптовалют URL: https://bankchart.com.ua/e_banking/statti/oglyad_tsifrovih_kriptovalyut
Що таке Стейблкоін (Stablecoin). Види та переваги URL: https://www.bitbetnews.com/uk/novachkam/scho-take-stablecoin.html
Top 20 Largest Cryptocurrencies In 2020 By Market Cap. URL: https://tradingeducation.com/top-20-largest-cryptocurrencies-in-2020-by-market-cap
ICC. URL: https://iccwbo.org/global-issues-trends/banking-finance/access-tradefinance/
Narayanan. А., Bonneau J., Felten E., Miller A., Goldfeder S. Bitcoin and cryptocurrency technologies: a comprehensive introduction. Princeton: Princeton University Press. 2016.
Rosenzweig Р. Blockchain Standards. 2017. URL: https://www.lawfareblog.com/blockchain-standards
Marr B. How Blockchain Technology Could Change The World. FORBES. 27.05.2016. URL: https://www.forbes.com/sites/bernardmarr/2016/05/27/how-blockchain-technologycould-change-the-world/?sh=4fe244b725b2
YES Bank integrates ToneTag tech for sound-based payments. 2016. URL: https://www.finextra.com/newsarticle/29676/yes-bank-integrates-tonetag-tech-for-soundbased-payments 18. Mobile Money Market by Transaction mode (Point of Sale, Mobile Apps, QR codes, Internet Payments, SMS, STK/USSD Payments, Direct Carrier Billing, Mobile Banking), Nature of Payment, Application, Type of Payments, Region - Global Forecast to 2024. URL: https://www.marketsandmarkets.com/Market-Reports/mobile-remittance-money-mcommerce-market-577.html
Artificial Intelligence Innovation in Financial Services. URL: https://www.ifc.org/wps/wcm/connect/publications_ext_content/ifc_external_publication_site /publications_listing_page/ai-innovation-in-financial-services
ЮНКТАД: Доклад о цифровой экономике 2019. URL: https://unctad.org/system/files/official-document/der2019_overview_ru.pdf
