Development of a Methodology for Evaluating Cryptocurrencies as a Promising Means of Payment in the Digital Economy

The article presents the main results of a study of cryptocurrency as a financial instrument of the future from the standpoint of various methodological approaches aimed at identifying trends in its functioning within the framework of the theory and practice of monetary circulation. The fundamental hypothesis of the study is the prospect of introducing cryptocurrency as a legitimate means of payment to replace the classical forms of money in the context of the transformation of the world economy. This study and its results will contribute to solving a global scientific problem - the formation of a scientifically grounded theoretical and statistical base in the context of the specifics of cryptocurrency’s functioning and the possibility of its functioning as a legitimate means of payment in the modern economy. The relevance of the article is determined by the need to reassess the existing monetary system along with financial mechanisms and operating institutions in view of the emerging crisis of confidence in the current system of state regulation of the economy. The scientific novelty of the article is determined by the development of modern economic theory from the standpoint of the functioning of cryptocurrency as a component of monetary circulation via approaches that study cryptocurrency as an alternative to outdated financial mechanisms. This work opens up an opportunity for further research in the field of cryptocurrency relations, its further improvement and implementation in the national financial system.

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