New cryptocurrencies in the world economy

Authors

  • Aleksander Nikolayevich Zelenuk Moscow State Institute of International Relations (University) MFA Russia
  • Galina Aleksandrovna Orlova Russian Foreign Trade Academy
  • Eugenia Vadimovna Taranovskaya Russian Foreign Trade Academy

Keywords:

cryptocurrencies, bitcoin, positive and negative aspects of the use of crypto-currency, means of payment, economic theories

Abstract

The authors consider the appearance and development of electronic currencies (cryptocurrency) in the world economy, in particular bitcoin, analyzing their essence and basic characteristics. They pay special attention to the consideration of the positive and negative aspects of electronic currencies, the possibilities of using them as payment and debt repayment instruments, the characteristic of the cryptocurrency is high as a high vulnerability to deflation. In conclusion, there are differences of opinion among leading American economists regarding the possibility of converting bitcoin into the world currency as a means of payment and debt repayment. The authors conclude that there are contradictions regarding the use of bitcoin as a world reserve currency.

Author Biographies

Aleksander Nikolayevich Zelenuk, Moscow State Institute of International Relations (University) MFA Russia

Candidate of Economic Sciences
Place of work, post: Moscow State Institute of International Relations (University) MFA Russia, Department of Economic Theory, Assistant Professor

Galina Aleksandrovna Orlova, Russian Foreign Trade Academy

Candidate of Economic Sciences, Associate Professor
Place of work, post: Russian Foreign Trade Academy, Department of World and National Economy, Professor

Eugenia Vadimovna Taranovskaya, Russian Foreign Trade Academy

Candidate of Technical Sciences, Associate Professor
Place of work, post: Russian Foreign Trade Academy, Department of Finance, Monetary and Credit Relations, Associate Professor

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Published

2024-02-08

How to Cite

Zelenuk, A. N., Orlova, G. A., & Taranovskaya, E. V. (2024). New cryptocurrencies in the world economy. Russian Foreign Economic Journal, (8), 65–79. Retrieved from https://journal.vavt.ru/rfej/article/view/1459

Issue

No. 8 (2017)

Section

Финансовые проблемы

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