Digital of Financial Assets: Current State and Forecast of Development at the Global Level on the Example of Cryptocurrencies
DOI: 10.34130/2070-4992-2020-4-146
Milosh D. V. — PhD student, Belarusian State Economic University, Minsk, Republic of Belarus, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Gerasenko V. P. — Doctor of Economics, Professor of the Department of Finance, Belarusian State Economic University, Minsk, Republic of Belarus, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
The article is devoted to the development of theoretical aspects, the study of world experience and the development of methodological provisions for predicting the development of digital financial assets (hereinafter — DFA) the use of which is one of the key factors in the digital transformation of payment systems, the banking sector and the financial market as important components of the digital economy. The purpose of the study is to assess the dynamics and forecast the development of digital financial assets in foreign countries. Methodology: description, analysis, synthesis, systematization, statistical, graphical, regression, modeling. To achieve this goal the author definition of “digital financial assets” was proposed, the dynamics of DFA development at the global level through the analysis of information and analytical publications and international reports were investigated, the theoretical basis for predicting the development of DFA was considered, a regression analysis based on statistical data on the volume of transactions with cryptocurrency and GDP in 2010-2019 was performed the results of which made it possible to make a forecast of the development of digital financial assets in foreign countries. Results: the author's definition of the concept under study is proposed, trends in the development of the global market of digital financial assets are identified on the example of cryptocurrencies and a forecast of their development is made. The scope of application of the results is in the sphere of state policy on the choice of DFA development directions. Limitations and directions of future research: in this work the analysis of digital financial assets is based on the use of global data and therefore the authors’ current direction of further research is to improve the forecasting methodology and obtain a model that will take into account the peculiarities of socio-economic development of various countries and will allow developing appropriate recommendations for the development of the DFA. Conclusions. DFA, in particular cryptocurrencies, has a great potential for growth and development, and the results of this study can become the basis for further scientific research in the direction of studying various issues related to the theoretical and practical aspects of the functioning and development of the financial and economic mechanism for using digital financial assets.
Keywords: digital financial assets, cryptocurrency, transaction, crypto market, regression analysis, development forecast.
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For citation: Milosh D. V., Gerasenko V. P. Digital of financial assets: current state and forecast of development at the global level on the example of cryptocurrencies // Corporate Governance and Innovative Economic Development of the North: Bulletin of the Research Center of Corporate Law, Management and Venture Investment of Syktyvkar State University. 2020. No. 4. Р. 146–153. DOI: 10.34130/2070-4992-2020-4-146