title: The roles of virtual currencies in the modern payment system
metadata.name: dc.contributor.author
metadata.value: Kochergin, Dmitry A.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2017-05-18T11:57:30Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2017-05-18T11:57:30Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2017-03
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Kochergin D. A . The roles of virtual currencies in the modern payment system. St Petersburg University Journal of Economic Studies, 2017, vol. 33, issue 1, pp. 119–140.
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: 10.21638/11701/spbu05.2017.107
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/6345
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: The article attempts to identify the formal and essential features of the modern virtual currency, to provide a classification of virtual currencies, to identify the main factors influencing the demand and supply of virtual currencies, to analyze the key indicators of development of virtual currency schemes to determine their market prospects in payment system.
  The study determined that virtual currencies differ from traditional currencies and electronic money in the narrow sense. The main innovations related to the development of schemes of virtual currency are two key elements: the asset factor and payment factor. The main criteria for the classification of virtual currencies are: 1) the ability to convert virtual currency to traditional currency; 2) the organizational and technological features of the issue of virtual currencies. 
  The study identified the main advantages of using virtual currencies for payment participants: 1) relatively short time for verification and settlement of payment transactions; 2) the high anonymity pf payment transactions; 3) relatively low transaction costs. However, currently only a few of decentralized schemes of virtual currencies are original from the point of view of a cryptographic scheme of issuing and accounting currency units. Among the virtual currencies with the highest market capitalization in the world are: Bitcoin, Litecoin and Reeple.
  Refs 32. Figs 5. Tables 3.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: St Petersburg University Journal of Economic Studies;Volume 33; Issue 1
metadata.lang: -
metadata.name: dc.subject
metadata.value: virtual currency
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: digital currency
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: electronic money
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: new payment systems
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: distributed ledgers
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: blockchain
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: classification of virtual currencies
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: virtual currency schemes
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: The roles of virtual currencies in the modern payment system
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 07-Kochergin.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/6345/1/07-Kochergin.pdf
resources.format: Adobe PDF
resources.size: 1,03 MB