Russian Journal of Economics and Law (Jun 2024)
Review of digital assets. Trends in the development of Digital Financial Assets in the Russian Federation and forecast
Abstract
Objective: to determine the current state of the digital financial assets market and the prospects for its development.Methods: the work uses comparative-logical methods, analysis, synthesis, comparative analysis in terms of comparing the theoretical aspects of the DFA market and the practical use of this technology; SWOT-analysis, the method of expert assessments.Results: in the era of digitalization of many economic processes, one of the key trends of financial markets is tokenization of assets. At the same time, there is a lack of a high-quality institutional system for managing digital financial assets. The authors identified the DFA market development trends, analyzed the market current state, researched the published scientific works and prepared a brief literature review, made a SWOT-analysis of the DFA market, and identified the advantages, potential and threats to this market development in Russia. The paper identifies trends in the DFA market development, taking into account the existing risks. This is relevant for investors when planning investments and selecting DFAs as an investment object, to diversify the investment portfolio.Scientific novelty: a narrative analysis of the digital financial assets market development was carried out. A comparative analysis of digital financial assets and traditional financial instruments was performed. The main regulatory solutions to the infrastructural problems were identified, that are necessary for the development of digital financial assets. The presented SWOT-analysis served as a basis for the formation of the author’s view DFA-technologies development in the country, which is relevant for researchers of regulatory aspects, system unification and harmonization of the regulatory framework and socio-economic relations.Practical significance: the study analyzed the volume of DFA issues and identified their most common types. DFA issuers, operators as organizers of DFA issues, and investors can use the study results to make decisions in activities using digital assets.
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