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- Title
ENTROPIJA TRANSFORMACIJE TRADICIONALNE U DIGITALNU EKONOMIJU U KONTEKSTU KRITIČNIH TEHNOLOŠKIH PROMJENA.
- Authors
SILAJDŽIĆ, FUAD
- Abstract
Critical technological changes and new emerging technologies are of interest of the governments and strategic planning institutions as well as the financial industry. In the field of financial technologies (fintech) these are: digital assets, digital payment technologies, advanced financial computing, distributed ledger technology etc. The digital transformation of the financial services industry in the face of the Covid-19 pandemic has ultimately tested the limits of the economic sector's systemic resilience to this global social, economic and technological challenge. The accelerated pace of digitization of business processes caused by the pandemic has become a challenge for leaders struggling to restore balance and define the next business steps. Within the evolution of critical technological changes, a digital economy with digital assets and digital currencies is emerging as a concept that is the digital equivalent of a certain fiat currency and is tied to its value. The pioneering attempts of state digitization of money aim to offer a technological response to the economic crisis and are in function of protecting one's own national economy. Banks, on the other hand, are still exploring ways of acting in the new circumstances. Seemingly synonymous, digital currency and cryptocurrency are fundamentally different in the process of creation, management, control and use. The process of creating and issuing volatile cryptocurrencies is mostly decentralized, that is, it is carried out by the users themselves, while the control over digital currencies is centralized and under the jurisdiction of central banks. Entropy is a measure of disorder in a system. The concept of entropy has many useful applications in finance such as the measurement of risk and uncertainty, ambiguity and disorder of stochastic processes. The evolution of digital and cryptocurrencies in periods of economic uncertainty is preceded by periods of low entropy values, while on the other hand, the financial crisis is associated with an increase in the entropy of exchange rates.
- Publication
Zbornik Radova: Univerzitet 'Džemal Bijedić' u Mostaru, Ekonomski Fakultet, 2023, Vol 21, Issue 33, p148
- ISSN
0352-258X
- Publication type
Article