Сryptocurrency as an object of economic analysis in insurance companies

• Main Author: O.O. Poplavskiy
• Format: Article
• Language: English
• Published: Zhytomyr State Technological University 2016-12-01
• Series: Vìsnik Žitomirsʹkogo Deržavnogo Tehnologìčnogo Unìversitetu: Ekonomìčnì Nauki
• Subjects: economic analysis; insurance company; cryptocurrency
• Online Access: http://ven.ztu.edu.ua/article/view/89525

The article is devoted to topical issues of economic nature of cryptocurrency and development of the theoretical approaches for its analysis in insurance companies. The attention has been focused to risks and opportunities of cryptocurrency in modern economy, its place in evolution of money. The author studied the international experience of cryptocurrency operation in insurance companies order to identify trends of development of the industry and to determine their potential impact on the domestic insurance sector. The legal status of bitcion, main popular cryptocurrency, in different countries of the world has not been left without attention. The author has defined that bitcion is prohibited in states with low level of insurance density and penetration (like Bangladesh, Russia, Indonesia) and is legalized in development countries, such USA, Japan, Germany and others. Major indicators of analysis of cryptocurrency in insurance companies which can be used for management decisions have been suggested.