Old analogue normality vs new digital normality in a competitive coordinate system

Authors

DOI:

https://doi.org/10.52957/27821927_2021_4_4

Keywords:

competitiveness, cash, non-cash, digital money, virtual money, cryptocurrency, blockchain technology, centralized currencies, decentralized currencies, central bank digital currency

Abstract

The article analyses the impact of digitalization on the transformation of monetary forms accelerated during the COVID-19 pandemic. Also paper highlights the reasons for the emergence of digital currency. The author supposes the economic nature of money itself is being modified in a network economy. As a result the digital currency is approaching the ideal money model of the IT economy. On the one hand, the society interpreted the modern digital money (the new digital normality) as a phenomenon of the new economic reality generated by new economic relations; on the other hand, it is a development of the "old" money (the old analogue normality). This leads to a reasonable conclusion regarding the competitiveness of pre-digital and digital currencies in the near term.

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Published

2021-12-25

How to Cite

Rodina, G. A. (2021). Old analogue normality vs new digital normality in a competitive coordinate system. JOURNAL OF REGIONAL AND INTERNATIONAL COMPETITIVENESS, 5(4), 4-12. https://doi.org/10.52957/27821927_2021_4_4