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Date: 3 months ago   Category: Finances

Digitalization of economy: opportunities and prospects for the Far East


Participants of the WEF-2018 have discussed relevant trends of development of branch of the Photo: The WEF-2018 One of the most relevant trends of development of economy and society is a digitalization today. According to the Adviser to the President of the Russian Federation Sergey Glazyev, digital revolution gives huge opportunities in the monetary sphere, in particular, it is not only about cryptocurrencies, but also about national digital currencies. "Recognition of the importance of a role of digital economy is annual increase in her share of GDP. In the Russian GDP still digital economy makes 2,8%, or 75 billion dollars, and her most part, 63 billion dollars, is the share of the sphere of consumption" — the host of program "Vesti" (VGTRK) Tatyana Remezova has noted. But the problem is that at the moment there is no standard and legal base for development of digital economy. Experts emphasize that the digital legislation is written from scratch and it isn't yet not only in our country, but also anywhere in the world. "The standard environment doesn't consider key properties of new economy for today — the high value of intangible assets, washing out of borders and extremely low costs of replication of business models, including regulatory questions which had to be solved still yesterday: definition of the legal nature of new digital assets, identification of subjects of digital economy, validity of electronic documents, forms of the state control of business, regulation of a turn of data and access to them so that they were protected and available to the solution of various business challenges" — the senior vice-president, the vice-chairman of the board of directors of Norilsk Nickel MMC has explained; vice-president, CJSC INTERROS Holding Company Andrey Bugrov. Still there is no method of legal regulation of a blockchain and cryptocurrencies: the international standards which would be applied everywhere don't exist. In Russia also the electronic and digital signature has no uniform standard. Therefore there is a need for formulating a concept of smart contracts which will allow to finish various business logic over a blockchain and to interact more effectively. All this leads to the fact that lag of regulation and cyber crime create risks for economy and society. "In one country of the world we can't protect the right of participants of smart contracts properly. The countries don't understand the legal nature of smart contracts" — the head of the working group on estimates of risks of a turn of cryptocurrency of the State Duma Elina Sidorenko noted. According to the lawyer of Charltons Julia Charlton, the bitcoin and other cryptocurrencies aren't considered as currencies and, therefore, are subject to a free turn. On the other hand, when additional characteristics are added, built on over cryptocurrency, it can become threat for economy. But, despite inevitability of digitalization, business and society aren't ready to her yet. "Now the main objective in solving two key problems: to inform the state of the consolidated position big эк

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