Cryptocurrency as the basis of a new financial architecture in the information age

Abstract

The article discusses the development of cryptocurrencies as a new form of money in the financial sector in the short and medium term. It is shown that the modern cryptomarket is developing rapidly. So, more than 14,000 types of cryptocurrencies exists  today. However, despite such a rapid development of the crypto market, cash today still acts as the best form of money and significantly surpasses cryptocurrencies in terms of a set of properties. In the medium term, we  expect the introduction of either national CBDC or supranational digital currencies within the framework of integration associations. Consequently, it will be necessary to create a conceptually new global financial architecture that could maintain the stability of the entire financial sector.