The Development Tendencies of the Financial Services Market’s Management with Use of Financial Instruments

• Main Author: Smyrnova Olesia V.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2019-03-01
• Series: Bìznes Inform
• Subjects: cryptocurrency; financial services; financial intermediation; crypto-financial instruments; cryptoactives; tokens; blockchain technologies; financial engineering; ІCO
• Online Access: http://www.business-inform.net/export_pdf/business-inform-2019-3_0-pages-302_308.pdf

The globalized financial system, strengthened by the digitalization of society, has led to the growth of a significant part of tax-exempt incomes in Ukraine, which necessitates the immediate reform of all segments of the financial system. A system analysis of the modern financial market is carried out. New types of financial instruments are considered – active (financial intermediaries, financial services executors, financial engineers, etc.) and passive (cryptoassets, tokens of various types, including cryptocurrency), their classification is analyzed together with the appropriate infrastructure that is blockchain. Features of development of financial instruments of the financial services market are identified. The concept of digital finance is separated from cryptofinance and the irreversible transition of the world financial system into the cryptofinancial is substantiated. The materials of the article can be used for further development of the theory of cryptofinance and creation of a regulatory base on functioning of the State cryptofinancial system.