+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Finance and Credit
 

Transformation of the national payment system within the framework of the diffusion of blockchain technology – An assessment of economic externalities: The Russian Federation case study

Vol. 27, Iss. 7, JULY 2021

Received: 8 April 2021

Received in revised form: 22 April 2021

Accepted: 11 May 2021

Available online: 29 July 2021

Subject Heading: Financial system

JEL Classification: C51, G17

Pages: 1496–1512

https://doi.org/10.24891/fc.27.7.1496

Marat R. SAFIULLIN Kazan (Volga Region) Federal University (KFU), Kazan, Republic of Tatarstan, Russian Federation
Marat.Safiullin@tatar.ru

https://orcid.org/0000-0003-3708-8184

Leonid A. EL'SHIN Center of Advanced Economic Research in the Academy of Sciences of the Republic of Tatarstan, Kazan, Republic of Tatarstan, Russian Federation
Leonid.Elshin@tatar.ru

https://orcid.org/0000-0002-0763-6453

Aliya A. ABDUKAEVA Center of Advanced Economic Research in the Academy of Sciences of the Republic of Tatarstan, Kazan, Republic of Tatarstan, Russian Federation
Aliya.Abdukaeva@tatar.ru

https://orcid.org/0000-0003-1262-5588

Subject. The article investigates the national payment system and its transformation as part of the transition to cryptotransactions, using the digital money.
Objectives. The aim is to determine how blockchain technologies can affect the economy of the Russian Federation.
Methods. The study employs the method of scientific analysis.
Results. We reveal the potential of economic growth of the Russian economy, associated with blockchain technologies.
Conclusions. The paper presents economic and social effects of the introduction of blockchain technologies on their penetration into the payment system.

Keywords: blockchain technology, national payment system, digital money, scenario analysis, risk

References:

  1. Safiullin M.R., Abdukaeva A.A., El'shin L.A. [Integrated Multicomponent Assessment of Development of the Market a Blockchain of Technologies in National Economy of Russia]. Innovatsii = Innovations, 2019, no. 7, pp. 41–49. URL: Link (In Russ.)
  2. Safiullin M.R., Abdukaeva A.A., El'shin L.A. [Methodological approaches to the formal assessment of patterns and trends in the development of blockchain technologies in the regions]. Kreativnaya ekonomika = Creative Economy, 2019, vol. 13, no. 7, pp. 1343–1356. (In Russ.) URL: Link
  3. Pekhtereva E.A. [The prospects for using blockchain technology and cryptocurrency in Russia]. Ekonomicheskie i sotsial'nye problemy Rossii = Economic and Social Problems of Russia, 2018, no. 1, pp. 71–95. URL: Link (In Russ.)
  4. Nurmukhametov R.K., Stepanov P.D., Novikova T.R. [Blockchain technology and its application in trade finance]. Finansovaya analitika: problemy i resheniya = Financial Analytics: Science and Experience, 2018, vol. 11, no. 2, pp. 179–190. URL: Link (In Russ.)
  5. Konopleva Yu.A., Kiseleva B.N., Cheremnykh S.E. [Blockchain as a new stage of Russian economy development]. Ekonomika i upravlenie: problemy, resheniya = Economics and Management: Problems, Solutions, 2018, vol. 5, no. 4, pp. 136–140. (In Russ.)
  6. Vranken H. Sustainability of Bitcoin and Blockchains. Current Opinion in Environmental Sustainability, 2017, vol. 28, pp. 1–9. URL: Link
  7. Kim K.J., Hong S.P. Study on Rule-based Data Protection System Using Blockchain in P2P Distributed Networks. International Journal of Security and its Applications, 2016, vol. 10, no. 11, pp. 201–210. URL: Link
  8. Bariviera A.F., Basgall M.J., Hasperué W., Naiouf M. Some Stylized Facts of the Bitcoin Market. Physica A: Statistical Mechanics and its Applications, 2017, vol. 484, pp. 82–90. URL: Link
  9. Krylov G.O., Seleznev V.M. Problemy bezopasnosti oborota tsifrovykh finansovykh aktivov v kriptoekonomike: monografiya [Problems of security of digital financial assets turnover in cryptoeconomics: a monograph]. Moscow, Prometei Publ., 2020, 348 p.
  10. Cocco L., Concas G., Marchesi M. Using an Artificial Financial Market for Studying a Cryptocurrency Market. Journal of Economic Interaction and Coordination, 2017, vol. 12, iss. 2, pp. 345–365. URL: Link
  11. Mori T. Financial technology: Blockchain and Securities Settlement. Journal of Securities Operations & Custody, 2016, vol. 8, iss. 3, pp. 208–227.

View all articles of issue

 

ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

Journal current issue

Vol. 30, Iss. 3
March 2024

Archive