financeФинансы: теория и практика/Finance: Theory and PracticeFinance: Theory and Practice2587-56712587-7089Financial University under The Government of Russian Federation10.26794/2587-5671-2019-23-6-36-49finance-926Research ArticleЦИФРОВЫЕ ФИНАНСОВЫЕ АКТИВЫDIGITAL FINANCIAL ASSETSСущность криптовалют: дескриптивный и сравнительный анализThe Essence of Cryptocurrencies: Descriptive and Comparative Analysishttps://orcid.org/0000-0001-7494-2728Синельникова-МурылеваЕ. В.Sinel’nikova-MurylevaE. V.

Елена Владимировна Синельникова-Мурылева — кандидат экономических наук, старший научный сотрудник

Elena V. Sinel’nikova-Muryleva — Can. Sci. (Econ.), Senior Researcher

el.sinelnikova@gmail.comhttps://orcid.org/0000-0002-2149-3946ШиловК. Д.ShilovK. D.

Кирилл Дмитриевич Шилов — научный сотрудник

Kirill D. Shilov — Researcher

shilovkd@gmail.comhttps://orcid.org/0000-0003-2945-5271ЗубаревА. В.ZubarevA. V.

Андрей Витальевич Зубарев — кандидат экономических наук, старший научный сотрудник

Andrei V. Zubarev — Can. Sci. (Econ.), Senior Researcher

texxik@gmail.comИнститут прикладных экономических исследований РАНХиГСРоссияInstitute of Applied Economic Research, RANEPARussian Federation2019241220192363649Copyright © Синельникова-Мурылева Е.В., Шилов К.Д., Зубарев А.В., 20192019Синельникова-Мурылева Е.В., Шилов К.Д., Зубарев А.В.Sinel’nikova-Muryleva E.V., Shilov K.D., Zubarev A.V.This work is licensed under a Creative Commons Attribution 4.0 License.https://financetp.fa.ru/jour/article/view/926

Цель статьи — систематизация существующих в литературе и у международных и национальных организаций регуляторов взглядов на понятие криптовалюты, анализ ее экономической сущности и места в современной денежнофинансовой системе. В  рамках дескриптивного и теоретического анализа обсуждаются определения и  функции криптовалюты. Дана систематизация существующих в литературе подходов к анализу понятия криптовалюты, показано место криптовалюты в современной экономической теории. В рамках сравнительного анализа проведено сопоставление криптовалют между собой, а также с деньгами и платежными системами. В результате исследования сделаны следующие выводы: криптовалюты зачастую определяются через набор базовых характеристик, которым они удовлетворяют; не являются деньгами, при этом могут выполнять основную функцию денег — быть средством платежа; могут быть по своей сути средством осуществления расчетов, активами, платформами для заключения смарт-контрактов, средством для краудфандинга; не являются частными деньгами в трактовке Хайека; могут быть описаны в рамках моделей нового монетаризма (экономики платежей).

The aim of the article is to systematize the views on the concept of cryptocurrency from the literature and among international and national organizations and regulators, to analyze its economic essence and the place in the modern monetary and financial system. The definition and the functions of cryptocurrency are discussed in the framework of descriptive and theoretical analysis. The paper systematized the existing approaches to the concept analysis of cryptocurrency; the place of cryptocurrency in modern economic theory is shown.The article concludes that cryptocurrencies are often determined through the set of basic characteristics. Cryptocurrencies are not money, though they can perform the main function of money — to be a means of payment; they can be a means of making settlements, assets, platforms for concluding smart contracts, a means for crowdfunding. They are not private money in Hayek’s interpretation. Cryptocurrencies can be described in the framework of the models of new monetarism (payment economics).

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The authors declare that there are no conflicts of interest present.