Economy, finances, management: topical issues of science and practical activity

SCIENTIFIC JOURNALS OF VINNITSA NATIONAL AGRARIAN UNIVERSITY

Issue №: 2 (30)

Published: 2018.02.23

DOI: XX.XXXXX/XXXXXXXXXXXXX

Description:
The magazine deals with the problems of the agricultural sector of the economy in the context of integration and processes of globalization. Attention is paid to the issues of development of digital economy, rural territories, technologies of enterprise management and organization of accounting, problems of legal support of economic processes, market tendencies of development of various branches of economy. Particular attention is paid to green tourism as a promising segment of the national economy.

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CRYPTO-CURRENCY AS A NEW FINANCIAL INSTRUMENT: ADVANTAGES AND DISADVANTAGES OF ITS USE AND PROBLEMS OF LEGAL REGULATION

DOI: XX.XXXXX/XXXXXXXXXXXXX

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TOMCHUK Olesya – Candidate of Economic Sciences, Associate Professor of the Accounting Department, Vinnytsa National Agrarian University (Vinnytsya, 3, Soniachna Str., e-mail: olesya-tomchuk@yandex.ru).

FOSTOLOVYCH Valentyna – Candidate of Agricultural Sciences, Associate Professor of the Department of Accounting and Taxation in the Fields of the Economy, Vinnytsia National Agrarian University (21008, Vinnytsia, 3, Soniachna Str., e-mail: vfostolovich@gmail.com).

Annotation

The article presents the present-day vision and mechanism for the formation of financial instruments in the form of encoded resources. The legal status of such instruments has been explored and the positive and negative aspects of their use have been identified and grouped. The study of the change in the value of this type of currency during the year according to Coinmarketcap data has been conducted and the most investment-attractive types of encoded virtual currencies have been identified. The basic elements that cause complexity in the use of cryptographic currencies of various types are determined. It was investigated that the recognition of crypto-currencies as a financial instrument at the state level raises the need to regulate and control their circulation and develop the system of taxation. The main restrictions in accumulation and management of crypto-currencies in Ukraine in accordance with the Draft Law No. 7183-1 are presented. Specific features of influence of coded currencies on financial system are indicated.

Keywords: crypto-currency, bitcoins, payment system, virtual money, enterprise, management system, payment mechanism, economic benefit, model of calculation, cryptoexchange.

List of references

1. Bum kryptovaliut: 5 alternatyv bitkoinu [Elektronnyi resurs]. – Rezhym dostupu: https://uteka.ua. 2. Karcheva H.T. Virtualni innovatsiini valiuty yak valiuty maibutnoho / H.T. Karcheva, S.M. Nikitchuk // Finansovyi prostir. – № 2 (18). – 2015. – Pp. 24-30. 3. Kosarev V. E. Vzryvoopasnaia valiuta bitkoin / V. E. Kosarev // Bankovskoe delo. – 2014. – № 4. – Pp. 39-41. 4. Pantielieieva N. M. Orhanizatsiino-ekonomichnyi mekhanizm upravlinnia innovatsiiamy bankivskoi systemy / N. M. Pantielieieva // Visnyk Universytetu bankivskoi spravy Natsionalnoho banku Ukrainy. – 2013. – № 2 (16). – Pp.122-128. 5. Proektu Zakonu Ukrainy №7138 “Pro obih kryptovaliuty v Ukraini” vid 06.10.2017 r. [Elektronnyi resurs]. –Rezhym dostupu: http://zakon.rada.gov.ua. 6. Proekt Zakonu Ukrainy №7183-1 “Pro stymuliuvannia rynku kryptovaliut ta yikh pokhidnykh v Ukraini” vid 10.10.2017 r. [Elektronnyi resurs]. – Rezhym dostupu: zakon.rada.gov.ua. 7. Khypponen M. Kyberopasnost: kak zashchytit innovatsiyi ot prestupnosti [Elektronnyi resurs] / M. Khypponen // Materialy foruma “Otkrytyie innovatsiyyi” 1-5 noiabria 2013 h. RBK daily. – 2013. – № 204 (1737). – Pp. 9-10. – Rezhym dostupu : http:// www. rbcdaily.ru. 8. Brett King. Bank 3.0. Why Banking Is No Longer Somewhere You Go But Something You Do. – 2014. – 520 p. 9. Cryptocurrency Market Capitalizations [Elektronnyi resurs]. – Rezhym dostupu: https://coinmarketcap.com. 10. EBA Opinion on “virtual currencies”. European Banking Authority. – 4 July 2014. – P. 46. 11. Proof of Stake vs. Proof of Work / BitFury Group. – 2015 r. [Elektronnyi resurs]. – Rezhym dostupu: https://bits.media. 12. Satoshi Nakamoto Bitcoin: A Peer-to-Peer Electronic Cash Systemhttps [Elektronnyi resurs]. – Rezhym dostupu:://bitcoin.org. 13. Virtual currency schemes – a further analysis. – European Central Bank (February 2015). – 25 p.

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About the journal

Topics of the journal:

С1 Economics and International Economic Relations (by specialization)

D1 Accounting and Taxation

D2 Finance, Banking, Insurance and Stock Market

D3 Management

D4 Public Management and Administration

D5 Marketing

D7 Trade

J3 Tourism and Recreation

Keywords: economics , international economic relations , accounting , taxation , finance , banking , insurance , stock market , management , public management and administration , marketing , trade , tourism and recreation

Key information:

ISSN (print): 2411-4413

DOI: 10.37128

All-Ukrainian scientific and production journal “Economics, finance, management: topical issues of science and practical activity” is a peer-reviewed open-access journal that publishes original research, theoretical articles and reviews on a wide range of economic and business issues. The articles, which have scientific and scientific-practical significance, highlight theoretical and methodological aspects of the development of agrarian sector of economy and related industries, the results of fundamental and applied research.

The purpose of the journal is to highlight the results of fundamental and applied research in the field of economic sciences, aimed at developing modern approaches to managing economic processes, financial support for enterprise activities and increasing the efficiency of economic systems. The publication is focused on creating a scientific environment for the exchange of research results between scientists, higher education students and practitioners in economic sphere, as well as on the dissemination of modern scientific and methodological approaches to solving current economic and management problems. The journal contributes to the development of the research in the field of enterprise economics, finance, accounting, auditing, management, marketing, entrepreneurship, trade, tourism and recreation, public management and administration, economic development and international economic relations, which meets the modern needs of the socio-economic development of the state.

The journal’s objectives are:

• publishing the results of fundamental and applied research in the fields of economics, international economic relations, finance, management, public administration, accounting, marketing, tourism and recreation, and entrepreneurship;

• promoting the development of modern methods of managing enterprises and organizations, increasing the efficiency of using financial and material resources;

• supporting the research aimed at improving the economic mechanisms of enterprise functioning, developing innovative activity, and increasing the competitiveness of economic structures;

• ensuring the scientific exchange of research results between higher education institutions, scientific institutions, and business entities;

• developing methods of economic analysis, forecasting, and modeling of socio-economic processes;

• disseminating of modern approaches to financial management, accounting, taxation, and control of economic activity;

• promoting the development of interdisciplinary research related to the economic support of the development of agrarian sector of economy and rural areas;

• integration of scientific research results into the international scientific space and increasing the level of scientific communication.

Publisher: Vinnytsia National Agrarian University

Link to the journal on the publisher’s website: ”Economics, finance, management: topical issues of science and practical activity”

Frequency of issue: 4 times a year.

Language of publication: Ukrainian, English.

Editor-in-Chief: Inna Honcharuk

State registration: Decision of the National Council of Ukraine on Television and Radio Broadcasting No. 1337 and No. 1178. Media identifier – R30-05171. Publisher registration number (EDRPOU) 00497236.

Publisher’s ROR: https://ror.org/05m3ysc06 Publisher’s DOI prefix: 10.37128 ISSN (print): 2411-4413

Publisher DOI prefix: 10.37128 ISSN (print): 2411-4413

The scientific journal is included in category "B" of the List of scientific professional publications of Ukraine, in which the results of dissertations for the degree of Doctor and Candidate of Sciences in the specialties C1 (051) - Economics, D1 (071) - Accounting and Taxation, D2 (072) – Finance, Banking, Insurance and Stock Market, D3 (073) – Management, D5 (075) – Marketing, D7 (076) – Entrepreneurship and Trade, (241) – Hotel and Restaurant Business, D4 (281) – Public Management and Administration (Order of the Ministry of Education and Science of Ukraine dated March 17, 2020 №409)

History of journal:

Founded in 1997 under the name ”Bulletin of Vinnytsia State Agricultural Institute”. In 2010-2014 it was published under the name “Collection of Scientific Papers of Vinnytsia National Agrarian University”. Since 2015 “Economics, finance, management: current issues of science and practical activity” (Certificate of State Registration of Mass Media No. 21154-10954 PR dated 12/31/2014).