Digital currency and the future of finance: opportunities and risks

DIGITAL CURRENCY AND THE FUTURE OF FINANCE: OPPORTUNITIES AND RISKS
Turayev Alijon Akmal o'g'li
Senior Lecturer at the Department of Investment and Innovation
Samarkand Institute of Economics and Service
Qurbanov Azimjon Xasanovich
Assistant at the Department of Investment and Innovation
Samarkand Institute of Economics and Service
Ortiqboyev Elbek Diyorjon o’g’li
Student of the Faculty of Economics
Samarkand Institute of Economics and Service
Abstract: In our article we present a study of the impact of digital currencies on the future of the financial system. We analyze the main trends in the development of digital currencies, their potential benefits and risks. The article also considers issues of regulation and influence on macroeconomic stability, warns against possible threats and offers prospects for the further development of digital finance.
Key words: Digital currency, blockchain, cryptocurrencies, financial technologies, innovations in finance, decentralization, cybersecurity, economics of digital society.
Аннотация: В нашем статье мы представляем собой исследование влияния цифровых валют на будущее финансовой системы. Мы анализируюем основные тенденции в развитии цифровых валют, их потенциальные преимущества и риски. Также в статье рассматриваем вопросы регулирования и влияния на макроэкономическую стабильность, предостерегает от возможных угроз и предлагает перспективы дальнейшего развития цифровых финансов.
Ключевые слова: Цифровая валюта, блокчейн, криптовалюты, финансовые технологии, инновации в финансах, децентрализация, кибербезопасность, экономика цифрового общества.


Introduction. Digital currency has become a major player in the financial revolution, providing new perspectives for exchanging value and conducting financial transactions. In the context of rapid technological development, this form of money is not only generating interest, but also raising questions about its opportunities and risks in the future of the financial landscape.
Digital currency, such as Bitcoin and other cryptocurrencies, is based on innovative blockchain technology, which provides a decentralized and reliable exchange mechanism. This technological revolution contributed to the creation of new forms of money and redefined relationships in the financial system.
Today we are seeing a rapid expansion in the use of digital currencies, their introduction into everyday financial transactions, and even discussions about the possibility of creating digital versions of national currencies. Such changes not only stimulate technological progress, but also raise questions about the prospects and risks associated with these innovations.
Digital currency opens up new opportunities for financial services, such as improved microfinance terms, reduced international transfer costs, and the creation of new business models. However, along with these opportunities, there are also risks associated with price volatility, security and regulation.
In this article, we will look at the impact of digital currency on the future of the financial system, analyze the opportunities it provides, and identify key challenges and risks. We will look at issues of regulation and standardization, and assess how these innovations can impact the global economy as a whole. The focus will not only be on the technological aspects, but also on the wider socio-economic implications that accompany this transition to the digital future of finance.