New Financial Reality as Evolution Result of World Financial System

Abstract

In recent period the number of studies on the phenomenon called “new economic reality” is sufficiently large. However, the literature does not usually tend to differentiate economic and financial aspects of this phenomenon. Objective of the current study is to identify changes and trends in the world and national financial systems determining the new economic reality and caused by it. As the methods of research analytical and synthetic aspects of the system approach were used. Tendencies of changes in the basic element of financial system—money as the medium of financial-relations, were identified. The paper deals with the role of information technology in the formation of the identified trends. Conclusions about supranational money and suitability of cryptocurrency as the money of new financial reality were made.