Digital Economy Financial Applications

Abstract

The article presents discussion on innovative transformation of financial instruments, which definitions, classification and role in the economy has remained debatable. In the face of changes in the economy under the influence of the coronavirus pandemic, the technological transformation of the business and the introduction of more stringent international regulations financial intermediaries seek to solve a three-pronged problem: to ensure high profitability of their business while maintaining liquidity and minimizing risks. The aim and importance of the study is to identify the conceptual apparatus and financial tools of the digital economy, as well as to solve problems and determine development prospects. Various approaches to the interpretation and regulation of digital financial assets have been analyzed. Discussion issues of theoretical understanding and practical application of crypto currencies are presented. The author's interpretation and classification of crypto currencies and digital currencies of central banks is proposed. Approaches to classification of crypto assets vary, but in general they can be identified mainly as private assets, which exist in the form of digital records which can be used for investment purposes and/or to provide access to a product or service. The modern tools of financial markets are diverse, so the importance of the study is determined by the need to develop unified approaches, principles and regulations for digital financial instruments in global and national financial markets.

Keywords: Digital Currencies; Crypto Currencies; Digital Financial Assets

JEL Classification: G1, G2, O3