V. Voloshyn. On the question of the properties of monetary counterparts.

Abstract

The article deals with the analysis of the properties of monetary analogues. It was shown that contemporary virtual money in its variety, unlike other types of money is capable of altering the entire concept of money being a universal means of goods exchange. This can be explained by a sufficient amount of properties and functions, which such type of money has acquired in nowadays society. Some drawbacks of such systems were also shown, particularly, the absence of real protection from fraud, especially for beginners. Another evident drawback could be irrevocable character of transactions. The author arrived at the conclusion that advance of monetary alternatives throughout the world can’t be stopped by anyone. Virtual means of payment systems, development of Internet, addiction to such systems of payment among population testify their legal possible development, hopefully, safe application of virtual substitutes of traditional money will alter drastically the conditions of traditional trade, as one of the cornerstone of the mankind’s activity.