INFLUENCE OF THE CRYPTOCURRENCY MARKET IN THE CONDITIONS OF DIGITAL TRANSFORMATION OF SOCIETY

Abstract

The scientific article explores the impact of cryptocurrencies on modern society in the context of digital transformation. The article provides a literature review, describes the research methodology, and analyzes the impact of cryptocurrencies on various areas of life, including finance, economics, politics, education and sociocultural aspects. The study highlights the importance of understanding and accounting for cryptocurrency technologies in the context of modern sociocultural and economic changes. The relevance of studying the significance of cryptocurrency development in the context of digital societal transformation is driven by several key factors: 1. The growing popularity and use of cryptocurrencies challenge existing financial institutions and payment systems, raising the potential for changes in financial infrastructure and the global economy. This necessitates urgent research into the impact of cryptocurrencies on financial stability. 2. The evolution of cryptocurrencies also has profound sociocultural implications, influencing how people interact, exchange information, and even their national identities. Research on this topic is relevant as it helps to understand how technological changes affect sociocultural aspects of life and interactions within society. Therefore, the study of the importance of cryptocurrencies in the context of digital societal transformation is relevant in light of their potential impact on financial systems and the sociocultural changes they induce. The research aims to analyze the impact of cryptocurrency development on political and legal aspects in different countries. To achieve the goal of studying trends in the impact of cryptocurrency technologies on the economy, the following objectives have been formulated: • analyze the historical context of cryptocurrency development and their role in the digital transformation of society; • examine the technological aspects of cryptocurrencies, including the principles of blockchain operation and cryptographic mechanisms; • evaluate the impact of cryptocurrencies on the financial sector, including investments, payment systems, and banking activities; • investigate the influence of cryptocurrencies on economic processes, such as global trade, inflation, and macroeconomic stability; • consider the impact of cryptocurrencies on political and legislative aspects, including the regulation and taxation of cryptocurrencies. Scope of Research Application: 1. The research findings can be valuable for shaping economic policies, regulating cryptocurrency markets, and developing financial stability strategies. 2. Financial institutions and banks can use the research conclusions to adapt their services and products to new technological realities, including blockchain and digital currencies. 3. The study can be beneficial in the development of legislation and regulations governing cryptocurrency operations and in making decisions regarding taxation and financial transaction monitoring. 4. The research findings can contribute to the development of educational programs and courses aimed at training specialists in the field of cryptocurrencies and blockchain. 5. The results can be applied to the analysis of sociocultural and social aspects of cryptocurrency impact on society, including changes in consumer behavior and financial literacy.