Why the real sector of the economy needs digital financial assets: risks and prospects

Abstract

The fourth industrial revolution predetermined the digitalization of all spheres of life from the emergence of the Internet of things and 3-D printing to the creation of a single digital economic space. It is no coincidence that one of the priority areas of the Strategy for the Development of the National Payment System for 2021—2023 is the active introduction of innovative payment technologies and the expansion of the scope of electronic means of payment. Another confirmation of the dynamic development in this direction is the introduction of an additional digital ruble into the Russian economy, along with cash and non-cash forms of the national currency, legalized from August 1, 2023. Pilot projects on the use in the real sector of the economy of a qualitatively new financial instrument — a digital financial asset-turned out to be quite effective. The use of new digital financial instruments inevitably entails the need to form a new vector for the development of law, new legal relations formed under the influence of digital technologies. However, the legal nature of a digital financial asset is still not fully defined, the legal regulation is very contradictory, which significantly slows down the practice of its use and creates additional risks. This article discusses aspects of the positive impact of the use of digital financial assets in the real sector of the economy, prospects, as well as the risks of large-scale use of this financial instrument.