Leadership and Crypto-Currency in the Era of Crowd Economy

Maksim Maramygin, Elena Prokofieva and Viktor Pishchulov
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Maksim Maramygin: Ural State University of Economics
Elena Prokofieva: Ural State University of Economics
Viktor Pishchulov: Ural State University of Economics

A chapter in Leadership for the Future Sustainable Development of Business and Education, 2018, pp 333-342 from Springer

Abstract: Abstract The rapid development of IT technology has led to a serious change in many spheres of economic life. The centuries-old order of financial and monetary transactions is changing. The role of the state and its institutions in the conduct of many payment, settlement, and investment operations is significantly and rapidly compressed. At the same time, there is no complete understanding of how to build the circulation of nonmonetary money and safe work in the conditions of crowd technologies development. The purpose of the study is to analyze the results of the development of crypto-currencies, history and mechanisms of their distribution, definition of economic essence, and stability of non-fiat money. The article discusses the role of crypto-currency in the evolution of money, reveals the main trends underlying this process, and justifies the inevitability of further development of circulation and payment instruments. The consequences of using virtual money for monetary regulation of the economy are analyzed. Additionally, the reaction of the monetary authorities to the undergoing changes is estimated.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-74216-8_33

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DOI: 10.1007/978-3-319-74216-8_33

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