scholarly journals WHAT WORLDVIEW FEEDS THE EXISTENCE OF CRYPTOCURRENCY?

2020 ◽  
Vol 15 (20) ◽  
pp. 73-80
Author(s):  
Nino Liparteliani
Keyword(s):  
The State ◽  
Theory And Practice ◽  
Wall Street ◽  
Virtual Currency ◽  
Digital Currency ◽  
Short Period ◽  
The World ◽  
The Future ◽  
The Government ◽  
Traditional Paradigm

Cryptocurrency is a virtual digital currency. The main reason for the popularity of digital currency is its decentralization and the peculiarities arising from it. Austrian economist and philosopher Friedrich August von Hayek In the 1970s, he became interested in the benefits of money-laundering by the state and began exploring the possibilities of alternative currencies. In 1976 he published the book: Denationalization of Money: An Analysis of the Theory and Practice of Concurrent Currencies. According to Hayek, the state monopoly on the issue of money should be abolished, he writes: The special right of the country's governments to issue and regulate money could not help the society to receive much better money than it would have without the intervention of governments. It was this work by Hayek that prepared the ideological basis for the creation of decentralized digital currency. The purpose of creating a cryptocurrency is to get rid of the directives of central banks. If cryptocurrencies are created by the governments of countries, the basic idea of creating a virtual currency that virtual capital in the Internet space must be beyond the control and regulation of the government is lost. It is in this fundamental idea that the best degree of freedom is best seen, the increased degree of human dependence on free money, which raises many questions, namely:  What is the philosophical concept of creating cryptocurrency?  What worldview feeds the existence of cryptocurrency?  Does the existence of cryptocurrency have an intellectual basis?  What is the future of this venture?  What principles or obligations should the government follow when talking about cryptocurrency?  Is the world preparing for a single currency? The term decentralized digital currency has great appeal, the freedom to depend on money on this scale has long been awaited by mankind, despite the fact that we have numerous examples of independent money making in the world. Can cryptocurrency free us from default? The answer to this question is heterogeneous. One group of experts believes that they do not see default in the crypto world at all, because there will be no need to attract capital by traditional methods, there will be no need for long-term commitments, no bonds will be needed, we will move from the industrial era to the service era, cryptocurrencies. Wall Street positioners even call this view futuristic and say that bonds are a structure of contracts and rules that are not in the crypto world. In our opinion, this may be the traditional paradigm of the attitude of the old representatives of the financial world to the crypto industry. There have been serious tectonic shifts in recent geoeconomics, such as Brexit, the struggle for Catalan independence, the Donald Trump phenomenon, the Recep Tayyip Erdogan factor, and so on. All this breaks the old economic models that we previously thought were unalternative. In the final part of the research topic, we discuss the pros and cons of cryptocurrency, namely that the exchange rate of any cryptocurrency fluctuates rapidly in a very short period of time, there may be a complete depreciation of a particular currency, nothing can prevent it, Return is virtually impossible because the transactions are anonymous, there have been numerous cases of cryptocurrency exchanges in the world, it is practically impossible to investigate the fact, due to the anonymity of these transactions, cryptocurrencies are not secured by any assets, unlike shares they do not allow buyers or property. Against this background, it is interesting to see what place cryptocurrency will occupy in the new currency system. The fact is that virtual finance is a new word in online technology that will change in the future, no matter what the new model of running the economy.

scholarly journals Upaya Indonesia Meningkatkan Pariwisata Maritim melalui Diplomasi Kebudayaan di Asia Tenggara

2017 ◽  
Vol 2 (1) ◽  
pp. 51 ◽  
Author(s):  
Harits Dwi W. ◽  
Bagus Subekti N.
Keyword(s):  
Economic Development ◽  
National Economy ◽  
Cultural Diplomacy ◽  
State Building ◽  
Tourism Industry ◽  
The State ◽  
The Third ◽  
The World ◽  
The Future ◽  
The Government

Indonesia is one of the largest archipelagic countries in the world, having more than 17,000 islands. It becomes one priority to the state building, more importantly in the national economy. State economic development can be driven by maximizing the potential of seawater through the tourism industry, especially in maritime tourism which is one part of the third pillars of the maritime axis. Maritime tourism may serve as an instrument of Indonesian diplomacy to compete in Southeast Asia’s tourism race. It could be very significant when the government is able to manage the potential resources. This paper argues that maritime tourism is potential for Indonesian development through maritime tourism industry in the future. This paper employs cultural diplomacy concept to describe how cultural diplomacy plays role as an instrument in promoting Indonesia’s tourism industry in the region.Keywords: maritime tourism, cultural diplomacy, tourism industry

Currency Internationalization and Reforms in the Architecture of the Monetary System: the case of Digital Yuan

2021 ◽  
Vol 40 (1) ◽  
Author(s):  
Zhi Ji ◽  
George Abuselidze ◽  
Valeriia Lymar
Keyword(s):  
Financial System ◽  
The State ◽  
Chinese Government ◽  
Security Technology ◽  
Digital Currency ◽  
Negative Results ◽  
Monetary System ◽  
The Government ◽  
Financial Transactions ◽  
Global Financial System

In the paper, the authors prove that the application of the Chinese currency in the less developed regions reveals that the Chinese Yuan, despite its limited turnover, can replace the national currency. The following positive and negative results on the global financial system are highlighted promoting the internationalization of the digital Yuan: ensuring and unlimited transparency of the government and visibility of internal financial transactions; transparency of all offshore financial transactions within a country as well as of non-resident users; providing a framework for the global financial system and controlling the monetary policies of regional economies that have actively adopted the Yuan. The paper analyses that the strategy of the Yuan internationalization was implemented through the mechanism of the currency swap agreements with central banks of different countries, respectively, the growing international application of the Yuan gradually stimulated the creation of the „Yuan zone". It is proved that the Yuan internationalization has become a part of the state strategy of the Chinese government in transition to a new type of economic growth, so the digital Yuan should eventually replace cash and will become the main innovation in the global financial system since the appearance of digital currency. According to the conducted research, it is shown that the main technology of the state digital currency of China accommodates security technology, transaction technology, and reliable guarantee technology. The system of Digital Currency, Electronic Payment - DCEP includes a digital currency tracking method system and a digital currency management system based on certain conditions. Launch conditions include terms of economic conditions, interest rate terms of the loan, the terms of the subject flow, and time conditions.

scholarly journals INVESTMENT SECURITY IN THE SYSTEM OF ECONOMIC SECURITY OF THE STATE

2021 ◽  
Author(s):  
Nataliia Sytnyk ◽  
Veronika Ishchenko
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Economic Security ◽  
The State ◽  
Fixed Capital ◽  
Investment Climate ◽  
Important Place ◽  
Doing Business ◽  
The World ◽  
The Government

In modern conditions of functioning of the market economy, in the era of development of globalization and globalization processes, the prevalence of international relations, the spread of various forms of international capital movement, in particular foreign direct investment, an important place is occupied by investment activities and policies implemented by the state within the framework of the latter. It is difficult to overestimate the importance and role of investment, because world experience shows that the effective development of business entities, and therefore the country's economy as a whole, cannot be imagined without making investments. Therefore, the government of almost any country in the world is focused on creating a favorable investment climate. The article defines the theoretical foundations of investment security of the state: the essence of the concept is outlined, the principles on which investment security is based, its place and role in the state's economic security system are justified. Qualitative and quantitative criteria for a comprehensive assessment of the state's investment security are presented. The calculation and analysis of the main indicators – quantitative criteria of investment security: gross accumulation of fixed capital; the degree of accumulation of fixed capital; the ratio of the cost of newly introduced fixed assets to the volume of capital investments is carried out; the ratio of net growth of foreign direct investment to GDP; the size of the Ukrainian economy as a percentage of global GDP. The dynamics of the total volume of foreign direct investment in the Ukrainian economy in the context of world countries is analyzed. The main investor countries that ensure the receipt of the largest volumes of investment flows to the Ukrainian economy are identified. Ukraine's place in the World Bank's “Doing Business” rating over the past ten years has been demonstrated. The positive dynamics regarding Ukraine's place in the World Bank's “Doing Business” rating and the main factors that influenced such positive changes were noted. The investment climate of the state is assessed and possible measures are proposed to improve the mechanism of managing the state's investment security.

scholarly journals RUSSIAN ECONOMY: WHAT IS NOT ENOUGH FOR THE DEVELOPMENT OF INDUSTRIES AND ENTERPRISES

2021 ◽  
pp. 125-133
Author(s):  
A. V. Yaschenko
Keyword(s):  
Theory Of The Firm ◽  
The State ◽  
Point Of View ◽  
Theory And Practice ◽  
High Tech ◽  
State Budget ◽  
Investment Activity ◽  
Russian Economy ◽  
The Government ◽  
Main Thing

The article attempts to assess the results of the development of the Russian economy from the moment of privatization to the present. The urgency of the problem lies in the fact that, despite significant resources, including human capital, the economy is stagnating, there are no structural reforms, and high-tech companies do not appear. The main thing is not creating conditions for business development on the principles of self-organization: entrepreneurship, initiative, personal competence and investment. Reforming the socio-economic system of the USSR has no historical analogue, and is perceived as a unique practice of testing some theoretical positions and hypotheses that guided researchers and entrepreneurs in the framework of a market economy, for example, the theory of market equilibrium, theory of the firm, theory of preferences, and others. Russia has demonstrated a kind of phenomenon, both from the point of view of theory and practice of market transformations, when it is not entrepreneurship, not the investment activity of business and the population, but the narrowly selfish interests of persons affiliated with the government, began to determine market processes, such an economy was called the «economy of individuals», And in the case of a direct focus on the state budget,» the economy of the distribution». The transformations could be based on the market experience of a large number of countries, both developed and developing (China), this has not been done. Time was lost on the creation of new jobs; in the industrial orientation of the state, there were no priorities for the development of important industries for national competitiveness. As a result, the economic growth was lost.

scholarly journals THE EQUIVALENCE IN TRANSLATION OF PUJA TRI SANDHYA FROM INDONESIAN TO ENGLISH

2020 ◽  
Vol 4 (1) ◽  
pp. 28
Author(s):  
Anak Agung Inten Mayuni
Keyword(s):  
Native Language ◽  
Theory And Practice ◽  
Target Language ◽  
Reform Movement ◽  
Dynamic Equivalence ◽  
Source Language ◽  
Universal Language ◽  
The World ◽  
Major Reform ◽  
The Government

Puja Tri Sandhya is Hindus prayer known in all countries. The original prayer came in Sanskrit language, but every Hindus believer already translate the prayer into their native language. In 1950, Balinese Hindus used Puja Tri Sandhya to get the recognition from the government allowing Parisada Hindu Dharma Indonesia (PHDI)—the major reform movement and Hindus organization in Indonesia—to translate Puja Tri Sandhya into Indonesian. This translation aimed to make every Hindus believer in Indonesia knows about the meaning of the mantras. Besides Indonesian, Puja Tri Sandhya is also translated into the universal language that 20 percent of the world spoke, English. English is believed to give the best medium to other people who want to learn more about Hindus or simply just curious. As a reminder, in this paper Indonesian will be the source language (SL) and English will be the result of the translation so we shall call it target language (TL). In translation, equivalency will be the point to show if the translation is well translated or not. In their book The Theory and Practice of Translation (1959), Nida and Taber state two kinds of equivalency that the translator can use as their reference they are: formal and dynamic equivalence. Here, Puja Tri Sandhya in Indonesian and English versions will be analyzed using 2 kinds of equivalences by Nida and Taber.

scholarly journals Official Reporting of Religious Organizations as a Source of Empirical Data on the Activities of the Church: Some Questions of Theory and Practice of the Evangelical Lutheran Church of Sweden

2020 ◽  
pp. 135-145
Author(s):  
O. A. Balabeikina ◽  
N. M. Mezhevich ◽  
A. A. Iankovskaia
Keyword(s):  
Academic Research ◽  
Partial Solution ◽  
The State ◽  
Theory And Practice ◽  
Public Attention ◽  
Reference Case ◽  
Global Trends ◽  
The World ◽  
The Relationship ◽  
The Church

The relevance of any material offered to the scientific and expert community depends on many factors. Objectively, the presence of this or that issue in the center of public attention has a positive effect on the actualization of this or that article. However, there is an obvious danger. Academic approaches that accidentally find themselves in resonance with global trends can fall victim to political conjuncture. Relevance in this case can fall victim to the political moment. Moreover, this or that topic, being in the center of public discussion, negatively affects the academic understanding of the problem. All this fully relates to the question of the relationship between the state and the church in modern Europe and Russia.A few words about global trends. Their essence boils down to the growing confrontation between supporters of new ideological approaches and traditionalists, among whom are many adherents.The relationship between religion and the state testifies to the fact that states and societies have not yet learned to draw an effective line between their interests and those of adherents. This fact presupposes careful state and public participation in the affairs of the church. However, acknowledging this circumstance is not enough. The state must clearly know what, where and how is happening in the church sphere of the life of society in cases where church affairs can affect public and state security.It is also known that almost all the leading churches, to a greater or lesser extent, provide official reporting to the state. However, working with this reporting, its scientific analysis is not always representative.Objective. The presented article is aimed at a partial solution of the problem of increasing the effectiveness of academic research of the church` activities. Moreover, it is made based on official church statistics.The author’s position is the following. States and societies have no right to let go of this vital sphere of life. The functions of the state, in this case, are at least controlling. The ineffective execution of its functions by the state can be revealed in many countries of the world. The situation in France is nothing more than a reference case of a problem that, to one degree or another, exists in most of the countries of the world, which are distinguished by ethnic and confessional heterogeneity.

scholarly journals PUNISHMENT FOR THE EXTRAORDINARY CRIME PERPETRATOR ON CHILDREN ECONOMIC EXPLOITATION IN INDONESIA COMPARISON OF LAW IN AUSTRALIA, SENEGAL AND ENGLAND

2019 ◽  
Vol 7 (3) ◽  
pp. 97-101
Author(s):  
Aristya Windiana Pamuncak
Keyword(s):  
Psychological Health ◽  
Public Perception ◽  
Comparative Law ◽  
The State ◽  
Positive Law ◽  
Economic Exploitation ◽  
The World ◽  
The Future ◽  
Study Child ◽  
Physical And Psychological Health

Purpose of Study: Child exploitation and slavery have become a new phenomenon of global crime because it occurred in every part of the world. The exploitation of infants and children in our public perception is underestimated because of cases subject to prosecution only mild and included unusual punishment. Methodology: This research was normative, in analyzing phenomena that occur in society, the authors attempted to answer some of the problems of the rule of positive law in Indonesia in solving the problems of exploitation of children, how to tackle the exploitation of children by other countries, and recommendations to resolve the problems of exploitation against children. Results: Exploitation crimes against children or slavery more appropriately included as an extraordinary crime committed against children, because such measures will not only affect the physical and psychological health but also will greatly affect the future of children and the future of a nation. Implications/Applications: Comparative law between the State of Australia, Senegal, and England, can be recommended for the legislature to make the formulation of regulations on the handling of the exploitation of children more effectively and quickly.

scholarly journals Problem of Statelessness in Nepal

NUTA Journal ◽  
2019 ◽  
Vol 6 (1-2) ◽  
pp. 64-69
Author(s):  
Rameshwor Upadhyay
Keyword(s):  
Human Rights ◽  
The State ◽  
Fundamental Rights ◽  
The Other ◽  
Universal Principle ◽  
Legal Obligations ◽  
The World ◽  
Women And Children ◽  
The Government ◽  
International Instruments

This paper highlighted Nepalese statelessness issue from Nationality perspective. Nationality is one of the major human rights concerns of the citizens. In fact, citizenship is one of the major fundamental rights guaranteed by the constitution. According to the universal principle related to the statelessness, no one shall be arbitrarily deprived of his or her nationality. In this connection, on one hand, this paper traced out the international legal obligations created by the conventions to the state parties in which state must bear the responsibility for making national laws to comply with the international instruments. On the other hand, this paper also appraised statelessness related lacunae and shortcomings seen in Municipal laws as well as gender discriminatory laws that has been supporting citizens to become statelessness. By virtue being a one of the modern democratic states in the world, it is the responsibility of the government to protect and promote human rights of the citizens including women and children. Finally, this paper suggests government to take necessary initiation to change and repeal the discriminatory provisions related to citizenship which are seen in the constitution and other statutory laws.

II. Dutch Views and Uses of British Policy in India around 1800

Itinerario ◽  
1988 ◽  
Vol 12 (1) ◽  
pp. 17-32
Author(s):  
Robert van Niel
Keyword(s):  
De Novo ◽  
The State ◽  
Final Report ◽  
Total Change ◽  
Group Of Seven ◽  
East Indies ◽  
The World ◽  
The Hague ◽  
The Republic ◽  
The Government

On August 31, 1803, a group of seven men, comprising the Commission for East Indies Affairs (Commissie tot de Oost-Indische Zaken), submitted the final report of its deliberations to the Government of the State of the Batavian Republic (Staatsbewind der Bataafsche Republiek) in The Hague. This Commission had been called into existence in November 1802 to make recommendations on how best to administer and conduct trade with the nation's possessions in the East Indies in a fashion that would render the greatest advantage to the nation's finances and profit to its commerce. Only a couple of years earlier Holland's monopolistic United East Indies Company (VOC) had been terminated by the Republic, and its assets and liabilities assumed by the State. The liabilities were immediately identifiable, for they consisted of debts which had to be paid in hard cash. The assets, on the other hand, consisted of territories – most of which had fallen under English control – and factories that somehow had to be made profitable, but seemed, given the then-existing conditions in the world, to be almost out of reach. The Commission was supposed to make recommendations as to how the remaining, territories of the VOC should be managed and how the trade with the East Indies and Asia in general was to be made profitable. This was no small task, so it may appear somewhat wondrous that the Commission was able to complete its work in less than ten months. The dispatch with which the Commission's work was completed, however, is more understandable if it is realised that the financial collapse of the VOC had been openly recognised since 1786, and various proposals for either reform or total change of the Company's system had been presented and discussed. These alternative proposals were well known to the members of the Commission. Their work, therefore, involved striking a balance among these proposals rather than creating a system de novo.

Debt Restructuring in the UK

2018 ◽  
Vol 15 (3) ◽  
pp. 449-471 ◽  
Author(s):  
Jennifer Payne
Keyword(s):  
Effective Mechanism ◽  
Debt Restructuring ◽  
The World ◽  
The Future ◽  
Fit For Purpose ◽  
English Law ◽  
Financially Distressed ◽  
The Government ◽  
The Uk

Many jurisdictions around the world are seeking to develop an effective mechanism for rescuing financially distressed but viable businesses. In the UK a number of different mechanisms exist which can be used to restructure distressed companies. The purpose of this paper is to assess the debt restructuring mechanisms currently available to companies in English law and to consider the proposed reform of the UK regime, announced by the Government in August 2018. It is argued that reform is needed, and that in general the proposals to introduce a restructuring moratorium and a restructuring plan which includes a cross class cramdown are to be welcomed. However, these reforms will need to be introduced with care in order to ensure that an appropriate balance is maintained between the interests of the company and the interests of the creditors and that, ultimately, the UK’s regime remains fit for purpose for the future.

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