General characteristics of the crypto industry, assessment of the degree and prospects of its further integration into the national economic sector

Abstract

The article is devoted to a set of questions regarding the general characteristics of the crypto industry, assessment of the degree and prospects of its further integration into the national economic sector. It is emphasized and proven that the rapid capitalization and popularization of cryptocurrency means of circulation caused the dynamic development of the crypto industry in Ukraine. Attention is focused on the need for meaningful research of this phenomenon, based on a basic understanding of the functional capabilities of its representatives, as well as the potential of cryptocurrencies themselves as promising means of circulation.
 The central category «cryptoindustry» is studied and explored, which also involves a meaningful analysis of the original term «industry». On the basis of the above, taking into account legislative realities and author's considerations, the vision of the concept of «cryptoindustry» is expressed. For the completeness and comprehensiveness of the presentation of scientific opinion, the specified definition is compared with a similar term - «system».
 It is argued that the specified industry in Ukraine is represented by a wide range of subjects of public and private law relations, which are usually structurally and (or) functionally unrelated, but all or part of their tasks (intentions) are oriented towards achieving local goals within the subject area. The features of the crypto industry as an independent legal category have been formed and characterized.
 It has been established that the crypto industry is beginning to be reflected in the economic component by making its significant adjustments. It is emphasized that we are talking about the emergence of new ones, the development and qualitative diversification of some existing spheres of economic relations, integrating more and more noticeably into various branches of the specified sector.
 A natural conclusion was made that, in view of the further capitalization and popularization of cryptocurrencies, as well as the active involvement of the state in these processes, the stable development of the crypto industry itself should be expected. Based on this, the assumption of a decrease in demand for some traditional methods of settlement and turnover in favor of crypto­currency means and, accordingly, its growth and role in economic relations, was also made.