THE DEVELOPMENT OF FORMS OF MODERN MONEY
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Author(s): | Gorchakova M. E., |
| Number of journal: | 1(74) | Date: | March 2026 |
| Annotation: | Money as a fundamental economic institution is currently undergoing a period of profound transformation due to technological, economic, and socio-political changes on a global scale. The historical transition from full-fledged money with intrinsic value to modern forms of money that function primarily in non-cash and digital spheres reflects qualitative changes in economic relations and requires comprehensive scientific understanding. In the context of the rapid digitalization of the economy, the development of fintech innovations and the emergence of new payment technologies, there is a reassessment of traditional ideas about the nature of money and money circulation. In the context of the digitalization of the economy, modifications are taking place in the structure of money; fundamentally new forms of money appear, differing from other forms of money by the model of issue, method of circulation and functional tasks. The relevance of studying the evolution of money is also due to the formation of a global digital financial infrastructure, the development of central bank digital currencies (CBDCs) and the development of private digital currencies, which creates a fundamentally new architecture of the monetary system. At the same time, the role of traditional monetary instruments, including gold, silver and fiat currencies is being rethought in the context of ensuring economic stability and security. The paper evaluates the development of modern forms of money in the context of globalization and digitalization of the economy, and identifies promising areas for the transformation of monetary circulation, including central bank digital currencies and cryptocurrencies. The subject of the study is the patterns of evolution of forms and functions of money from full-fledged (commodity) money to modern fiat and digital mo- netary instruments, as well as the institutional, technological and economic factors of this transformation. | ||
| Keywords: | money, money circulation, form of money, development of forms of money, modern money, electronic money, cryptocurrency, digitalization, digital economy, digital currency |
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| For citation: | Gorchakova M. E. The development of forms of modern money. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2026;1(74):77—81. DOI: 10.25683/VOLBI.2026.74.1567. |
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