Analysis of cryptocurrency value indicators

Abstract

Technological progress contributes to the development of forms of financial transactions. Following the electronic equivalent of paper money backed by Fiat cash, comes a new form of electronic money cryptocurrency. The procedure for its circulation has not been reflected in international agreements yet. Currently, the processes of cryptocurrencies functioning on the world market are not fully studied, and the full theoretical aspect determining the value of new types of electronic exchange tools is not presented. The relevance of the research is due to the development of technological solutions for exchange processes in the world economy, the appearance of a new type of exchange funds (cryptocurrencies). The purpose of the study is to analyze the factors that determine the value of new types of exchange funds, electronic forms of money; to trace the dependence of the growth and fall in demand for them on the factors considered; show the contractual basis for the value of a new form of electronic currency. In the course of the research, methods of comparative analysis, generalizations, and systematic approaches were used. The information and empirical base of the research is data from the world currency exchanges, cryptocurrency exchanges, and analytical centers. The legal position of the attitude to cryptocurrencies on the part of governments of various countries is considered. In the present study, the evolution of exchange instruments and accumulation of exchange units is determined. The growth of demand for cryptocurrencies is analyzed. Patterns of growth and decline in the value of cryptocurrencies are revealed. Problems of speculation and fraud with cryptocurrencies have been identified. An alternative model for using blockchain-based smart contract technology in a unified public procurement information system is proposed. The scientific novelty is the search for tools for predicting the growth of interest in cryptocurrencies. The relationship of such interest with the equivalence of exchange for Fiat money is demonstrated. The author does not agree with the prevailing conservative opinion of the Russian lawmakers regarding cryptocurrencies. He gives his arguments in favor of the development of blockchain technologies in Russia. The analysis helps to predict the behavior of cryptocurrencies on currency exchanges. It is proposed to introduce a blockchain and cryptocurrency technology into the national economy.