Natalia P. Molchanova Niyaz R. Mirzabekov Stages of Digital Currency Research in the Global Economy: A Historical Approach

DOI: 10.38050/2078-3809-2026-18-2-138-155

Abstract

The relevance of the article's topic is due to the rapid increase in the role of digital currencies in national and international financial and economic relations between countries and the global economy. The purpose of the article is to identify the historical stages of scientific understanding of the essential content (substance) of the term “digital currency.” The study is based on general scientific and special methods and includes an analysis of the studies of domestic and foreign researchers and scientists from Lomonosov Moscow State University about digital currencies. Based on a synthesis of extensive factual material, the stages of development of scientific knowledge about this phenomenon are identified. The contribution of Russian and foreign scientists and scientific schools to the formation of a theoretical basis for the transformation of the basic provisions of the quantitative theory of money and the preparation of an array of empirical data on digital currencies is characterized. The features of the development of scientific thought at each stage of understanding the phenomenon of digital currencies are identified. The results obtained allow us to highlight the features of approaches to the study of digital currencies in Russia and abroad, as well as to determine the directions for further work in this area of scientific research.

Keywords: digital currencies, cryptocurrency, central bank digital currency, FATF, digitalization, theoretical and historical analysis, stablecoin, altcoin.

JEL: E42, E52, F24, P44.

For citation: Molchanova, N.P., Mirzabekov, N.R. (2026) Stages of Digital Currency Research in the Global Economy: A Historical Approach. Scientific Research of Faculty of Economics. Electronic Journal, vol. 18, no. 2, pp. 138-155. DOI: 10.38050/2078-3809-2026-18-2-138-155.

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