Use Of Digital Currency Research Articles

The impact of Fintech innovations on digital currency adoption: a blockchain-based study in India

Purpose The purpose of this study is to integrate customer value theory (CVT) and protection motivation theory (PMT) to understand the factors that have an impact on customer experience, e-trust and intention to recommend, which influence the adoption behaviour of digital currency users. Design/methodology/approach A purposive sampling technique was used, and data were gathered through an online survey of 414 respondents. The measurement and structural models were tested using partial least squares structural equation modelling to establish linkages between the constructs. Findings Functional, emotional and social values positively impact customer experience. Furthermore, perceived severity, perceived vulnerability, response efficacy and self-efficacy had a positive impact on e-trust. E-trust positively affects customer experience and intention to use the digital currency directly. The study demonstrated that perceived value and protection motivation factors play a significant role in influencing the use of digital currency. Practical implications For managers and policymakers interested in the Indian digital currency market, it is suggested that functional utility and emotional and social benefits can enhance user satisfaction. In an e-trust model, user education to increase risk and protection awareness, effectiveness of responses and self-efficacy are critical to building e-trust. Originality/value Building on CVT and PMT’s usage in the broader financial services domain, this research empirically confirms the significance of perceived value and protection motivation factors while adopting digital currency. It provides an extensive and multifaceted approach to comprehending customer involvement and trust in digital financial services, thus enhancing the theoretical and empirical knowledge of both the fintech and blockchain industries.

Perlindungan Hukum dan Kebijakan Tarif Pajak terhadap Trader Crypto di Indonesia

Cryptocurrency investment in Indonesia has become an increasingly popular topic as people's interest in digital assets increases. Although there is potential for huge profits, there are also risks that need to be considered. The Indonesian government takes a cautious stance in regulating cryptocurrencies. Clear regulations still do not exist, although in 2019, the Commodity Futures Trading Supervisory Agency (BAPPEBTI) issued regulations recognizing cryptocurrencies as commodity futures that can be traded on futures exchanges. Bank Indonesia has issued a statement reminding the public of the risks associated with the use of digital currencies, but there has been no outright ban on their use. There are also concerns regarding the misuse of cryptocurrencies for illegal purposes, such as money laundering and terrorism financing, which are continuously monitored by governments and financial regulatory agencies. Despite regulatory uncertainty, interest in cryptocurrencies continues to grow in Indonesia, and more and more companies and individuals are interested in understanding and using this technology.

Digitization adoption in developing countries: Investigating the factors affecting intention to use digital currency in Vietnam

In the contemporary landscape characterized by technological advancements and a progressive economic environment, the utilization of currency has undergone a paradigm shift. Despite the growing prevalence of digital currency, its adoption among the Vietnamese population faces several challenges, including limited financial literacy, concerns over security, and resistance to change from traditional cash-based transactions. This research aims to identify these challenges and propose solutions to encourage the widespread use of digital currency in Vietnam. This research adopts a quantitative approach, utilizing Likert scale questionnaires, with a dataset of 330 records. The interrelationships among variables are analyzed using partial least squares structural equation modeling (PLS-SEM). The analysis results substantiate the viability of the research model, confirming the hypotheses. The findings demonstrate a positive relationship and the significance impact of factors such as perceived usefulness (PU), perceived ease of use (PEOU), perceived trust (PT), social influence (SI), openness to innovation (OI), and financial knowledge (FK) to intention to use digital currency (IUDC). Thereby aiming to inform policymakers, industry stakeholders, and the wider community, fostering a deeper understanding of consumer behavior and providing solutions to enhance the adoption of digital currency in the evolving landscape of digital finance.

Perlindungan Hukum dan Kebijakan Tarif Pajak Terhadap Trader Crypto di Indonesia

Cryptocurrency investment in Indonesia has become an increasingly popular topic as people's interest in digital assets increases. Although there is potential for huge profits, there are also risks that need to be considered. The Indonesian government takes a cautious stance in regulating cryptocurrencies. Clear regulations still do not exist, although in 2019, the Commodity Futures Trading Supervisory Agency (BAPPEBTI) issued regulations recognizing cryptocurrencies as commodity futures that can be traded on futures exchanges. Bank Indonesia has issued a statement reminding the public of the risks associated with the use of digital currencies, but there has been no outright ban on their use. There are also concerns regarding the misuse of cryptocurrencies for illegal purposes, such as money laundering and terrorism financing, which are continuously monitored by governments and financial regulatory agencies. Despite regulatory uncertainty, interest in cryptocurrencies continues to grow in Indonesia, and more and more companies and individuals are interested in understanding and using this technology.

Presenting a new deep learning-based method with the incorporation of error effects to predict certain cryptocurrencies

In recent years, with the emergence of blockchain technology, we have witnessed a remarkable increase in the use of digital currencies. However, investing in the digital currency market carries a high level of risk due to the market's erratic behavior and high price fluctuations. Consequently, the need for an appropriate model for intelligent prediction and risk management is perceived. Motivated by the above subject, we propose a novel approach based on a deep neural network with a focus on error patterns. The proposed approach is based on the theory of non-random walks and assumes that there are predictable components in the price movements of cryptocurrencies. This new approach attempts to improve prediction results by modeling residual values and incorporating their impact on the main predictions. The time scope of this research is from October 31, 2018, to December 30, 2023, on a daily basis, spanning Five years. In this study, we utilized Long Short-Term Memory (LSTM) as the main prediction model and Vector Autoregression (VAR) for forecasting noise in three well-known cryptocurrencies: Bitcoin, Ethereum, and Binance Coin (BNB). The results indicate that the proposed approach has been able to enhance the predictions.

Architectural frameworks for financial transformation in Ukraine

In the modern world, the importance of digital currencies as a tool for financial transformation and economic development is growing, especially in Ukraine, where new ways to stimulate economic growth and increase financial inclusion are being sought. The purpose of this study was to explore architectural frameworks for financial transformation through the use of digital currencies in Ukraine. Using a combined methodological approach that included an analysis of scientific literature, empirical research, and a study of the experiences of other countries in the field of digital currencies, the study applied statistical methods of data processing and comparative analysis. The article shows the need to develop adaptive architectural frameworks for the successful implementation of digital currencies in the financial system of Ukraine. In particular, the advantages of digital currencies in reducing transaction costs and increasing the availability of financial services to the population are identified. However, certain challenges related to instability and an insufficient regulatory framework have also been identified. The article identifies the problem of regulatory instability and the benefits, such as reduced transaction costs and increased access to finance, associated with the integration of digital currencies in Ukraine. The article also explores potential scenarios for the adoption of digital currencies in the financial landscape of Ukraine. These results can serve as a basis for developing practical strategies and policies for the implementation of digital currencies in Ukraine. Understanding the specific benefits and challenges associated with this process will allow for the most informed decisions on the modernisation of the country’s financial system

ПЕРСПЕКТИВЫ ВНЕДРЕНИЯ И ИСПОЛЬЗОВАНИЯ ЦИФРОВЫХ ВАЛЮТ ЦЕНТРАЛЬНЫХ БАНКОВ

The global economy is constantly changing. The spread of "digital" technologies sooner or later had to affect the evolution of money. If the emergence of cryptocurrencies is considered as an attempt by individuals and companies to get away from state payment systems, then digital currencies of central banks or Central securities are an asymmetric response of the state to the development of cryptocurrencies. The purpose of the study is to identify trends in the introduction and use of digital currencies by central banks. The object of research: digital currencies. Subject of research: digital currencies of central banks. Methodology: Using the method of systematic analysis of scientific sources and regulatory documents regulating the scope of digital currencies, the trends of digital currencies and the transformation of the payment system, which are relevant today, were investigated. Result: It should be noted that the synchronous decision of almost all Central Banks in the world to accelerate the introduction of central securities for domestic and international settlements confirms the approach according to which, when analyzing relations between countries, more attention should be paid to real economic ties and processes, rather than declared statements.

Navigating the Complexities of International Economic Law: Implications for Global Trade and Investment

This paper explores the multifaceted landscape of international economic law and its profound implications for global trade and investment. Through a detailed examination of key legal instruments and treaties, including the World Trade Organization (WTO) agreements, Bilateral Investment Treaties (BITs), and Regional Trade Agreements (RTAs), the study elucidates how these frameworks shape the regulatory environment for international commerce. Central principles of non-discrimination, most-favored-nation (MFN) treatment, and national treatment are dissected to understand their practical application and impact on trade and investment flows. The role of international organizations in creating, enforcing, and shaping the norms and standards of global economic interaction is critically assessed. Furthermore, the paper delves into the legal challenges and strategic considerations businesses face in navigating international trade, investment protection, intellectual property rights, and the burgeoning digital economy. By examining case studies and practical implementations, the study highlights the dynamic interaction between legal frameworks and business strategy in the context of digital trade, data protection, and the use of digital currencies and blockchain in trade finance. This comprehensive analysis aims to provide insights into the evolving landscape of international economic law and offer strategic guidance for businesses and policymakers navigating these complexities.

THE FOURTH INDUSTRIAL REVOLUTION IN ISLAMIC FINANCE: THE CASE OF DIGITAL CURRENCIES OF CENTRAL BANKS

Advances in artificial intelligence, robotics, neural networks, artificial limbs and systems, automation, virtual and augmented reality, machine learning, and other fields hold great promise for improving efficiency and knowledge acquisition. Decentralization is one of the trends in the modern global finance market. The growth and active development of the Islamic finance and banking industry, the growth in the number of Muslims in the world and other factors determine the interest of researchers in digitalization issues. This paper is devoted to the study of the possibilities, approaches and views on the use of digital currencies from the point of view of Islamic finance. Methods of analysis and synthesis, comparative analysis are used. The approaches of various countries of the Muslim world to the introduction of digital currencies are analyzed, ongoing projects are considered. In the Islamic world, there has not yet been a consensus on the permissibility and scope of the possible use of digital currencies. The authors conclude that, in general, digital currencies can be harmoniously used within the concept of Islamic finance. This is facilitated by such factors as the transparency of decentralized finance and digital currencies, the contribution to the protection of the wealth of society, the focus on social benefits, which is in line with the good goals of Islamic finance and its social value.

Factors Affecting Intention to Adopt Digital Currency among Digital Payment Users in Kathmandu Valley

Purpose: The purpose of this paper is to investigate the factors affecting behavioral intention (INT) for adopting digital currency among digital payment users in Kathmandu Valley. Design/Methodology/Approach: This paper applied a cross-sectional survey design and collected 291 data from digital payment users in Kathmandu Valley analyzed by partial least squares structural equation model (PLS-SEM). Findings: This paper highlights that attitude (ATT) and perceived behavioral control (PBC) for adopting digital currency are the major factors that influence INT for adopting digital currency. Likewise, peer influence (PI) and superior influence (SI) have a significant positive influence on subjective norms (SN). Further, perceived ease of use (PEOU), perceived usefulness (PU), and perceived trust (PT) have a significant positive influence on ATT for adopting digital currency. Furthermore, self-efficacy (SE) and facilitating conditions (FC) have a significant positive influence on PBC. Originality/Value: The policymakers can utilize this information to develop infrastructure and regulations that encourage the use of digital currencies. Keywords: attitude for adopting digital currency, decompose theory of planned behavior, intention for adopting digital currency, perceived behavioral control, subjective norms

ПЕРСПЕКТИВЫ ПРИМЕНЕНИЯ ЦИФРОВОЙ ВАЛЮТЫ

This article examines the prospects for the use of digital currency in the modern world. The main advantages and disadvantages of digital currencies, their impact on the financial system and consequences in general are considered. Possible development options for digital currencies and their role in the future are also discussed.

Currency and Its Evolution in the Conditions of Digital Transformation

The article discusses the evolution of the currency in the context of digital transformation. The main forms of fiat money are presented, including their modern development through digital form, as well as distinctive features. Attention is paid to the essence and features of the use of electronic money, their main differences. The focus is on the digital currency of the central bank. Information on the introduction and use of digital currency of central banks has been accumulated and systematized. The relevance of the introduction of the digital currency of the central bank is determined, its differences from the cryptocurrency are listed. The essence of the blockchain is explained and the process of its functioning is considered. The main models for the functioning of the digital currency of central banks, as well as options for cross-border settlements through the use of the digital currency of central banks, are indicated. The prospects for the integration of digital currencies of central banks are touched upon, including their impact on cross-border settlements.

The Effect of Digital Currency on Monetary Policy in Tanzania: An Empirical Investigation

This study investigates the effects of digital currency on monetary policy in Tanzania., The main variables of the study included BTC and MBT as the independent variables and M3 as a dependent variable. The quantitative methodology used involved the applications of econometrics analysis as the estimation methods. The quarterly time series data (2014q1 – 2021q4) used were obtained from both the Bank of Tanzania, the Tanzania National Bureau of Statistics and the online data from www.blockchain.com. The main variables of the study included BTC and MBT as the independent variables and M3 as a dependent variable. The Vector Error Correction Model (VECM) was used to estimate the empirical regression model, while STATA software 14 was used to analyse the data. The results indicate of the VECM indicated that there was a significant negative relationship between BTC and M3 variables on the one the one hand, and a significant positive relationship between MBT and M3 variables in Tanzania. The study concluded that there was a significant effect of the digital currency on monetary policy in the country. The study recommended that the government should education the people on how the digital currency operates, it should strengthen monetary policy practices, and try to learn from others countries that use the digital currency. This would help the country to officially allow or reject the use of digital currency in the country.

ЦИФРОВАЯ ТРАНСФОРМАЦИЯ НАРКОПРЕСТУПНОСТИ КАК ОБЪЕКТ КРИМИНАЛИСТИЧЕСКОГО ИССЛЕДОВАНИЯ

The article focuses on the need to develop generic (basic, enlarged, integrative) methods of investigation of drug crimes, reflecting on the one hand the transformed "pre-digital" ways of committing crimes, and on the other the specifics of the investigation. The prerequisites for this are: the changed structure of the drug market; reorientation from the smuggling of synthetic drugs to their production within the country, as well as the use of "drug constructors"; involvement in the turnover of "designer" precursors; the use of digital currency for the purpose of conspiracy of criminal acts and legalization of drug proceeds.

Implementing Monetary Policy: Ease of Transacting with Digital Currency

This study aims to find out whether the use of digital transactions will change the monetary policy carried out by the central bank. Indonesia is one of the countries that is conducting research on the development of digital currency by the central bank, this is supported by technological advances that make people need transactions that are faster, safer and more efficient. This research will see whether the development of digital rupiah by the central bank will be accepted by the public, such as the use of e- -money which is widely used by people in the modern era. This study used a qualitative method with a literature review approach. the results of the study found that, Until the current CBDC development, the central bank believes that the implementation of monetary policy is considered more effective and on target because the use of digital currency is directly supervised and executed by the central bank. the implementation of the use of digital currency for the future is considered to facilitate transactions and the public will easily access information about their transactions safely.

Pengaruh Mata Uang Digital Dalam Transformasi Pembayaran Elektronik

The aim of this research is to investigate the impact of digital currencies in changing the electronic payments ecosystem using a quantitative approach. In the ever-evolving digital era, digital currency has become a key element in the electronic payment process. This research uses quantitative data collected from transaction statistics and economic analysis to describe the changesthat occur. The research results show that digital currencies have significantly changed the way electronic payments are made. There has been a significant increase in the number of transactions involving digital currencies, and the use of digital currencies is becoming more pervasive in consumers' daily lives. Transaction efficiency and speed have increased, while transaction costs arerelatively lower. This research also reveals that digital currency adoption still depends on factors such as consumer knowledge, level of trust in technology, and perceived transaction security. Along with positive influences, this research also notes issues related to regulation of digital currencies that can affect the stability of the electronic paymentseco system. These results provide important insights for stakeholders in the electronic payments industry, as well as regulatory authorities who need to consider policies that support the development of digital currencies in the context of continuously evolving electronic payments.

Penggunaan Metode AHP dalam Menentukan Cryptocurrency untuk Investasi

The use of digital currency or cryptocurrencies has been common since 2018. However, its use as an investment instrument is different from the conventional currency recognized by the state, this is because a cryptocurrency appeared by a number of organizations/companies and its value does not depend on the economic condition of a country, but on the status of a company/issuer of a digital currency. Difficulty predicting liability and growth creates computational needs to determine which digital currencies are suitable for investment, so in this study, 11 digital currencies are used to try out. Experiment with AHP calculations to get the best digital currency to use as an investment tool. This calculation translates into IOT Coin against other famous digital currencies, such as Bitcoin or Ethereum.

A Study on the Integration Path of China-ASEAN Digital RMB Cross-border E-commerce in the Context of Big Data

In the trend of the global digital economy, digital currency will become one of the important payment methods in cross-border trade in the future. Countries that are in a leading position in this technology can enhance their voice in the formulation of international rules. The development and use of digital currency by the central bank is of great significance for China to gain an advantage in international financial competition in the context of the digital age. From a key strategic partner - ASEAN as the entry point, this paper expounds the current situation of China-ASEAN cross-border e-commerce. Based on online data, this paper reveals the four problems faced by digital RMB cross-border e-commerce in the China-ASEAN framework through collection, integration and comparative analysis. On that basis, this paper makes the following suggestions: promoting the standardization of digital currency supervision, improving the "Bilateral Currency Swap Agreement", and actively carrying out international dialogue and talent exchanges, so as to help ASEAN carry out cross-border cooperation of digital RMB and cultivate the advantages of China's digital economy in the competition of cross-border e-commerce.

Analysis of the legal regulation of cryptocurrencies in Russia. Judicial practice of accounting for virtual money in bankruptcy

This article discusses the problem of legal regulation of cryptocurrencies in Russia. It is recommended to create the necessary regulatory conditions for such a financial instrument as cryptocurrencies. Attention is paid to the development of legislation in the field of the use of digital currency in Russia, not only in the direction of prohibition, but also in the direction of creating all the necessary accessible and legitimate conditions for the legitimate use of digital currency (cryptocurrencies) in Russia. The article also addresses the issue of the lack of uniform judicial practice, where cryptocurrency is the subject of dispute. The lack of legislative regulation of the cryptocurrency market in Russia affects the fair judicial protection of holders of crypto assets. The article also reveals the problem of including cryptocurrencies in the bankruptcy estate during the bankruptcy procedure of individuals. Both positive and negative judicial practice is given. As a result of the analysis, there is a positive developing trend, where the legislator in some legislative acts already defines digital currency as property, and also, in accordance with Article 128 of the Civil Code of the Russian Federation, the qualification of cryptocurrencies as "other property" is given. Thus, with the active development of legislation on the use of digital currency, it is possible to introduce cryptocurrencies into the list of objects of civil rights, where judicial practice on this issue will become more uniform. The purpose and objective of this study is to identify the main problems of legal regulation of cryptocurrencies and ways to solve them in a timely manner through the prism of emerging Russian legislation and emerging judicial practice. The study used the method of analysis of regulatory legal acts, scientific articles and journals revealing the problems of legal regulation of cryptocurrencies in Russia, as well as the analysis of positive and negative judicial practice when using cryptocurrencies by individuals and legal entities. The result of the study is the need for the formation and development of legislation in the field of the use of cryptocurrencies in Russia.

Factors Affecting Respondents' Attitudes Towards Using Digital Currencies in Bahrain

New forms of technology now allow for more secure and seamless use of digital money. Digital money can be transferred and exchanged with technologies like credit cards, smartphones, and online cryptocurrency exchanges. The purpose of this article is to explore the respondents’ knowledge about digital currencies. In addition, it investigates the factors that influence respondents’ attitudes towards the use of digital currency. Lastly, the study attempts to examine respondents' intent to use digital currency in the future. A cross-sectional online questionnaire-based survey design was used with a non-probability sample to explore the respondents’ perceptions of the above-mentioned aims. A total of 400 self-selected cases from Bahrain was investigated. More specifically, this study showed an increase in the total percentage of respondents’ knowledge about digital currencies, as the weighted average of the sample's knowledge was 1.68 out of 3, with a percentage of 56%. Moreover, the results indicated that most respondents believed that perceived usefulness is the most important factor for using digital currencies in online financial transactions. Then perceived ease of use, perceived enjoyment, web skills, and perceived control, respectively. Furthermore, the results showed an increase in the total percentage of respondents’ intention to use digital currencies in the future, as the weighted average of the sample's intentions was 2.10 out of 3, with a weighted percentage of 70%. With these findings, the study has important significance for academics by filling a vacuum in the literature regarding the variables influencing commercial adoption of digital currencies, as well as for practitioners in terms of decision-making on their acceptance and use. Keywords: Bahrain; Digital Currencies; Online Financial Transactions; E-Cash