The Directions of FinTech Development in Russia: Expert Opinion of the Financial University

Eskindarov, Mukhadin; Abramova, Marianna; Масленников, В. В.; Amosova, Nataliya A.; Варнавский, А. В.; Dubova, Svetlana E.; Zvonova, E.A.; Krivoruchko, S. V.; Лопатин, В. А.; Пищик, В. Я.; Rudakova, Olga S.; Ruchkina, Gulnara F.; Slavin, Boris; Федотова, Марина Александровна

doi:10.26794/2220-6469-2018-12-2-6-23

Cited by 20 publications

(10 citation statements)

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“…В статье представлены некоторые промежуточные результаты, полученные, в том числе, на основе ранее выполненных научно-исследовательских работ [2][3][4], а именно:…”

Section: а о бурякова финансовый университетunclassified

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Prospects of Using Distributed Ledger Technology to Automatize State Financial Control

Varnavskiy

Buryakova

2018

Upravlencheskie nauki

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The concept of “digitalization” came into use relatively recently, but in many respects the further development of the Russian economy will depend on it. Design of conceptual approaches and practical algorithm for adaptation of new technologies to the functioning peculiarities of the financial system is of great importance for ensuring competitive advantages of Russia, including those at the international level. The article presents the prospects for applying modern technologies in the activities of state audit institutions, which are designed to ensure financial stability and contribute to the formation of a solid foundation for the economic growth of the country. The purpose of the research is to identify the prospects for automation of control procedures, taking into account the level of development of modern technologies to prevent violations in the financial sector. In the process of research, general scientific empirical methods were used: observation, comparison, collection and study of data; analysis and synthesis, a method of scientific abstraction. The chosen approach allowed to ensure the reliability and validity of the conclusions drawn. According to the results of the research the prospects for using the national accounting digital unit in the purpose of the control are outlined; the technological possibilities and legal restrictions of creation of the state distributed ledger technology are revealed; the system for assessing risky transactions that could lead to financial violations is proposed; key characteristics of the system of conducting decentralized accounting are formulated; the expected result of the implementation of the proposed models of automation of control procedures in the Russian practice is assessed. The authors have proved the expediency of creating a state distributed ledger technology for financial control purposes. The expected result of the implementation of these proposals is estimated as more than 50% of the annual violations identified by the state audit institutions.

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Section: а о бурякова финансовый университетunclassified

“…Декабрь 2017. URL: https://www.cbr.ru/analytics/ppc/Consultation_ Paper_1712129(2).pdf (дата обращения: 02.07.2018).…”

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Prospects of Using Distributed Ledger Technology to Automatize State Financial Control

Varnavskiy

Buryakova

2018

Upravlencheskie nauki

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“…В частности, в Государственной Думе рассматривается несколько законопроектов, касающихся вышеозначенных понятий. Речь идет о Законопроекте № 419059-7 «О цифровых финан совых активах» (далее -Законопроект о ЦФА) 1 , За конопроекте № 424632-7 «О внесении изменений в части первую, вторую и четвертую Гражданского кодекса Российской Федерации (о цифровых пра вах)» (далее -Законопроект о ЦП) 2 и Законопро екте № 419090-7 «О привлечении инвестиций с использованием инвестиционных платформ» (далее -Законопроект о краудфандинге) 3 . Этими законопроектами вводятся следующие термины: цифровой финансовый актив, криптовалюта, токен, цифровое право, цифровые деньги, токен инвести ционного проекта.…”

Section: Introductionunclassified

“…Все эти предложения направлены на законода тельное закрепление в российском правовом поле определений уже существующих явлений, но как раз на их примере очень легко показать отсутствие единого системного подхода. 1 Проект федерального закона № 419059-7 «О цифровых финансовых активах». URL: http://sozd.parliament.gov.ru/ bill/419059-7 (дата обращения: 29.09.2018).…”

Section: Introductionunclassified

“…Во втором случае существующие формальные правила изменяются для внедрения новых институтов. В любом случае распространение неформального института в условиях принятия его все большим количеством людей приводит к необ ходимости его формализации в нормах права [1].…”

Section: Introductionunclassified

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token Money or Cryptocurrency: technological Content and Economic Essence

Varnavskiy

2018

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The obligatory features of the unit of account are formulated. Distinctive characteristic properties of a set of cryptocalculation units, in particular, subsets of x-type (coin) and y-type (token) calculation units, are revealed. It is proved that these sets do not intersect. It is proposed to allocate a subset of C 2 in the set of coins, which has an additional characteristic property — functioning on the basis of a smart contract. The thesis that any settlement unit carries the cost of a resource is proved. Even for units of account with the so-called “intrinsic value” (bitcoin), the presence of a resource in its functions was found. Four characteristic properties inherent in the set of “money” (M = {money}) are disclosed and a subset DM = {digital money} is allocated, containing a set of digital Fiat money secured by the state (sets F = {fat}) and a subset P = {private}, which is actually an addition to the set F). It is proved that cryptocurrencies have characteristic properties of the set M = {money} only within their own community. The paradox of the algorithmic guarantor, reﬂecting the absence of the need for formalization of algorithmic informal institutions, is formulated. Disclosed defnitions of such concepts as “cryptocurrency”, “token economy” and “tokenization economy”. Euler circles are used to visualize the relationship between different sets of calculation units. A coherent classifcation of calculation units based on the characteristic properties of the identifed sets is formed. The results of the study can be used to form the basis of legal regulation of the circulation of digital units of account.

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