Digital Tools of the Commercial Finance Market Form New Institutions of Economic Development

Abstract

A pragmatic approach to building market institutions is to select mechanisms that operate in a real non-congruent world, currently seeking to virtualize everything that can exist digitally and offer consumer value. The instrumental and infrastructural nature of digital products determines their ability to cross-pollinate with all industries and activities. The scope and depth of influence - ubiquity, determine the institutional level of the phenomenon. Digitalization not only changes outdated or dysfunctional institutions, but itself becomes a rule / condition for business success, transforming profitable business models into customer-centric ecosystems. Analysis of materials for 2020-21: a Gartner survey, a report of the American Chamber of Commerce in Shanghai, a Capgemini study, NASDAQ 100 forecasts, stock market reports, expert reviews, led to the following conclusion. Financial management in the supply chain using digital product infrastructure offers new effective ways of commercial finance, such as decentralization of finance, open blockchain networks, tokenization of corporate assets, setting new rules for doing business.