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


Issue №: 2 (60)

Published: 2022.08.30
DOI: 10.37128/2411-4413-2022-2

The journal deals with the issues of efficiency of functioning of the national economics and organizational forms of management of the national economy. Attention is paid to the problems of marketing, management and efficiency of production and economic activity of agrarian enterprises. The issues of public administration and administration, accounting and taxation, banking and insurance, forecasting and modeling of economic processes, foreign economic activity, commodity flows of economic entities and their infrastructure support.

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DOI: 10.37128/2411-4413-2022-2-2
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ZAKHARCHENKO Volodymyr – Doctor of Economic Sciences, Professor of the Department of Administrative Management and Alternative Energy Sources, Vinnytsia National Agrarian University (21008, Vinnytsia, 3, Soniachna Str., e-mail: zakharchenkovn@i.ua).


The article considers the current issues of monetary circulation in Ukraine and the world in the context of global challenges related to the world financial crisis of 2008-2009, the coronavirus pandemic and the Russian-Ukrainian war. The purpose of the study is a comparative analysis of electronic money, both fiat and virtual, as non-fiat, regarding the possibilities of their transformation into mainstream, that is, to occupy their dominant position in the money circulation systems of Ukraine and the world. It is noted that virtual money is often also called cryptocurrencies, because it is based on the blockchain technology, which provides a cryptographic system for protecting information. It is emphasized that their main technological feature is the decentralized nature of the crypto network. This means that they are not emitted or controlled by the state, and therefore cannot belong to fiat money (as opposed to electronic). Both advantages and disadvantages of virtual money compared to electronic ones have been identified. The presence of such shortcomings in cryptocurrencies, as a significant energy consumption of mining coins, high market volatility, the presence of «bad actors» in crypto networks and the displacement of national currencies, acutely raises questions about their regulation. It is proposed to distinguish between the five models of regulation of cryptocurrencies: repressive (with their complete prohibition); conservative (with the possibility of their purchase and sale in crypto exchangers); liberal (with permits for most operations with them); legal turnover; permitting (with recognition as a means of payment on par with the dollar and other reserve currencies). It is noted that despite the significant restrictions, especially according to the demands of repressive and conservative regulatory models, the cryptosector is rapidly developing both in the world and in Ukraine. As a positive moment in the development of the cryptosector in Ukraine, it is noted that it is already «working» in support of Ukraine in the war with the russian federation. It is concluded that the mainstream of cash flow should be electronic money. Virtual money should not bypass their share in cash and become another reserve currency. Otherwise, it will give cartblanche to transnational capital and undermine the basis of the current world system – the division of the world into separate states.

Keywords: money (electronic, virtual, fiat, non-fiat), cryptocurrency, blockchain, bitcoin, cryptocurrency regulation model

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About journal

Topics of the journal:

051 Economics

071 Accounting and taxation

072 Finance, banking and insurance

073 Management

075 Marketing

076 Business, trade and exchange activities

241 Hotel, restaurant and catering 

281 Public administration


Key information:
ISSN (print): 2411-4413
DOI: 10.37128

The journal “Economy, finances, management: Topical issues of science and practice” is included in the "List of Scientific Professional Editions of Ukraine". 

The scientific edition is assigned the Category "Б" in the field of economics in specialties 051, 071, 072, 073, 075, 076, 241, 281

(Order of the Ministry of Education and Science of Ukraine No. 249, March 17, 2020).

The journal “Economy, finances, management: Topical issues of science and practice” has a Digital Object Identifier (DOI)

The journal “Economy, finances, management: Topical issues of science and practice” is indexed in such database as Index Copernicus Value (https://journals.indexcopernicus.com/search/form)


The editorial board of the journal is guided by the principles of scientific, objectivity, professionalism, informational support of the most significant innovative researches, observance of standards of publishing ethics.

The purpose of the journal "Economics, finances, management: Topical issues of science and practical activity» is the coverage of leading scientific ideas in the economic, financial and management activities of the sectors of the national economy and the involvement of representatives of the domestic and foreign scientific professional community.


Objectives of the journal:

  • publication of research findings on innovation in the economy, financial and management spheres, innovation of production processes;
  • expanding partnerships with international scientific publishing organizations;
  • enhancing the culture of reviewing and annotating published material;
  • adherence to editorial ethics.


Article publishing is a paid service. Cost for printing in professional publications in accordance with the Decree of the Cabinet of Ministers of Ukraine of August 27, 2010 No. 796 "On approval of the list of paid services that can be provided by state educational institutions, other institutions of the educational system belonging to state and communal ownership" and the order Rector of the Higher Education University Mazura VA dated March 14, 2018 No. 93 “On setting the cost of printing in professional editions of the University”.

The cost of printing one page in professional editions of the university is 60 UAH.

An additional copy of the magazine with the mailing list costs 250 UAH.

Recipient: Vinnytsia National Agrarian University MFO 820172 Current account No. 31256282102055 Code 00497236 Bank State Treasury Service of Ukraine, Kyiv. VAT payer code 004972302286. Registration number 100271744. Purpose of payment: for printing an article in the journal: ”Economy, finances, management: Topical issues of science and practical activity "

History of journal:

It was founded in 1997 under the name "Bulletin of the Vinnytsia State Agricultural Institute". In 2010-2014 he was published under the title “Collection of scientific works of Vinnitsa National Agrarian University”.

From 2015 ”Economy, finances, management: Topical issues of science and practical activity” (Certificate of State Registration of Mass Media No. 21154-10954 of PR as of December 31, 2014)

The journal is the successor to the edition ”Collection of Scientific Papers of Vinnytsia National Agrarian University. Series: Economic Sciences. "