THE ORIGIN AND DEVELOPMENT OF CRYPTO-ASSETS

Abstract

It is imperative to examine cryptoassets in depth, the “reasons” for their emergence, the opportunities for development, and the risks that come with it. Cryptoassets are considered as an innovation in the function of the financial system from the moment of the publication of Nakamoto’s paper in 2008 and the subsequent launch of Bitcoins in 2009. Cryptoassets are a new class of digital assets that exist “thanks” to DLT technology of which the blockchain technology is a part. Such a historical perspective is relevant for further development of cryptoassets, their expansion and increased intertwining with more traditional segments of the financial industry and the global economy as a whole. In this article, an evaluation of the emergence and historical cultivation of crypto-assets will be discussed, as well as how the underlying technologies support their growth and likely future trends in the developing digital assets market.