Evolution of money to digital currency

The purpose of the article is to reveal the evolution of things exchange from its emergence described as a simple model to formation of the commodity-money circulation with its subsequent transformation into an innovative state tending to the digital currency. The objective of the study is to identi...

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Main Authors: V. D. Kuligin, I. D. Matskulyak, D. I. Matskulyak
Format: Article
Language:English
Published: Publishing House of the State University of Management 2022-06-01
Series:Вестник университета
Subjects:
Online Access:https://vestnik.guu.ru/jour/article/view/3522
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author V. D. Kuligin
I. D. Matskulyak
D. I. Matskulyak
author_facet V. D. Kuligin
I. D. Matskulyak
D. I. Matskulyak
author_sort V. D. Kuligin
collection DOAJ
description The purpose of the article is to reveal the evolution of things exchange from its emergence described as a simple model to formation of the commodity-money circulation with its subsequent transformation into an innovative state tending to the digital currency. The objective of the study is to identify the specifics of the double exchange of things model. In it, the needs of one individual are satisfied by the means of ensuring them that are in the possession of another. With the money’s advent, the alienation of one’s product and the appropriation of someone else’s in exchange for it is divided in space and time. This introduces fundamental changes in the simple exchange model. The circulation process does not end like a direct exchange of products. Money does not leave the sphere of circulation. They are deposited at those points in the circulation process that are purified by this or that commodity. The research methodology proceeds from the statements that, firstly, the identical is different, and the difference is manifested in the identity; secondly, in the thing being exchanged there is a hidden contradiction between its subjective assessment for oneself and for the other, and both sides value other people’s things higher than their own. The results obtained reveal the evolution of money towards digital currency as an objective social phenomenon. Their manifestation in different historical periods is compared – random exchange, commodity-money circulation, depreciation of money, the ratio of their supply and demand, the appearance of fiat money, and digital currency – their advantages and disadvantages are revealed.
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institution Kabale University
issn 1816-4277
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series Вестник университета
spelling doaj-art-de05570c47344e95bdbe85aad33144ed2025-02-04T08:28:12ZengPublishing House of the State University of ManagementВестник университета1816-42772686-84152022-06-010414615210.26425/1816-4277-2022-4-146-1522447Evolution of money to digital currencyV. D. Kuligin0I. D. Matskulyak1D. I. Matskulyak2State University of ManagementState University of ManagementYukon Line Limited LiabilityThe purpose of the article is to reveal the evolution of things exchange from its emergence described as a simple model to formation of the commodity-money circulation with its subsequent transformation into an innovative state tending to the digital currency. The objective of the study is to identify the specifics of the double exchange of things model. In it, the needs of one individual are satisfied by the means of ensuring them that are in the possession of another. With the money’s advent, the alienation of one’s product and the appropriation of someone else’s in exchange for it is divided in space and time. This introduces fundamental changes in the simple exchange model. The circulation process does not end like a direct exchange of products. Money does not leave the sphere of circulation. They are deposited at those points in the circulation process that are purified by this or that commodity. The research methodology proceeds from the statements that, firstly, the identical is different, and the difference is manifested in the identity; secondly, in the thing being exchanged there is a hidden contradiction between its subjective assessment for oneself and for the other, and both sides value other people’s things higher than their own. The results obtained reveal the evolution of money towards digital currency as an objective social phenomenon. Their manifestation in different historical periods is compared – random exchange, commodity-money circulation, depreciation of money, the ratio of their supply and demand, the appearance of fiat money, and digital currency – their advantages and disadvantages are revealed.https://vestnik.guu.ru/jour/article/view/3522bitcoinmoneycryptocurrencyexchangefiat moneydigital currency
spellingShingle V. D. Kuligin
I. D. Matskulyak
D. I. Matskulyak
Evolution of money to digital currency
Вестник университета
bitcoin
money
cryptocurrency
exchange
fiat money
digital currency
title Evolution of money to digital currency
title_full Evolution of money to digital currency
title_fullStr Evolution of money to digital currency
title_full_unstemmed Evolution of money to digital currency
title_short Evolution of money to digital currency
title_sort evolution of money to digital currency
topic bitcoin
money
cryptocurrency
exchange
fiat money
digital currency
url https://vestnik.guu.ru/jour/article/view/3522
work_keys_str_mv AT vdkuligin evolutionofmoneytodigitalcurrency
AT idmatskulyak evolutionofmoneytodigitalcurrency
AT dimatskulyak evolutionofmoneytodigitalcurrency