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Leadership and Crypto-Currency in the Era of Crowd Economy

In: Leadership for the Future Sustainable Development of Business and Education

Author

Listed:
  • Maksim Maramygin

    (Ural State University of Economics)

  • Elena Prokofieva

    (Ural State University of Economics)

  • Viktor Pishchulov

    (Ural State University of Economics)

Abstract

The rapid development of IT technology has led to a serious change in many spheres of economic life. The centuries-old order of financial and monetary transactions is changing. The role of the state and its institutions in the conduct of many payment, settlement, and investment operations is significantly and rapidly compressed. At the same time, there is no complete understanding of how to build the circulation of nonmonetary money and safe work in the conditions of crowd technologies development. The purpose of the study is to analyze the results of the development of crypto-currencies, history and mechanisms of their distribution, definition of economic essence, and stability of non-fiat money. The article discusses the role of crypto-currency in the evolution of money, reveals the main trends underlying this process, and justifies the inevitability of further development of circulation and payment instruments. The consequences of using virtual money for monetary regulation of the economy are analyzed. Additionally, the reaction of the monetary authorities to the undergoing changes is estimated.

Suggested Citation

  • Maksim Maramygin & Elena Prokofieva & Viktor Pishchulov, 2018. "Leadership and Crypto-Currency in the Era of Crowd Economy," Springer Proceedings in Business and Economics, in: Wadim Strielkowski & Oksana Chigisheva (ed.), Leadership for the Future Sustainable Development of Business and Education, pages 333-342, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-74216-8_33
    DOI: 10.1007/978-3-319-74216-8_33
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