Will Cryptocurrency Be Able to Ensure Development of Digital Economy in Russia?

Authors

  • Vladimir Petrovich BAUER Institute of Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation
  • Vladimir Valterovich VOROZHIKHIN Institute of Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation
  • Alexander Nikolaevich RAIKOV Institute of Control Sciences of Russian Academy of Sciences
  • Vladimir Vasilyevich SMIRNOV Institute of Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

Keywords:

dotcom economic bubble, blockchain, bitcoin, token, cryptocurrency, ICO, digital economy.

Abstract

The dotcom boom, which caused the crisis of 2001, is compared with the boom of the cryptocurrencies that is currently in place. The interrelationships of crypto-currencies with the basic cryptocurrency bitcoin and the processes of investing innovations through ICO mechanism with the use of crypto-currency are considered. The main risks of traditional business and business, based on the use of blockchain, crypto-currencies and tokens, are compared. It is concluded that the crypto-currency has a unique business potential that allows ensuring development of the digital economy in Russia.

About authors

Vladimir Petrovich BAUER

Institute of Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

Doctor of Economic Sciences, Associate Professor, Director of the Center for Strategic Forecasting and Planning, Institute of Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

Vladimir Valterovich VOROZHIKHIN

Institute of Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

Candidate of Economic Sciences, Leading Researcher of the Center for Monitoring and Evaluation of Economic Security, Institute of Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

Alexander Nikolaevich RAIKOV

Institute of Control Sciences of Russian Academy of Sciences

Doctor of Technical Sciences, Professor, Leading Scientist of the Institute of Control Sciences of Russian Academy of Sciences

Vladimir Vasilyevich SMIRNOV

Institute of Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

Junior Researcher at the Center for Strategic Forecasting and Planning of the Institute of Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

Published

31.01.2020

How to Cite

BAUER , V. P., VOROZHIKHIN , V. V., RAIKOV , A. N., & SMIRNOV , V. V. (2020). Will Cryptocurrency Be Able to Ensure Development of Digital Economy in Russia?. Information Society, (4-5), 34-42. Retrieved from http://infosoc.iis.ru/article/view/205

Issue

No. 4-5 (2017): Artificial Intelligence, User Content, Digital Technology - Empowerment

Section

The digital economy