Socio-Economic Analysis of the Transformation of the Functions of Money in Information Economy

Abstract

The paper represents the study of the transformation of the functions of money in the conditions of digitalization of the economy. The authors describe the main functions of money, which were considered basic for a long period of time and consider specific examples reflecting the functions of money from the point of view of socio-economic analysis. The key indicators that allow analyzing the functions of money are both sociological, such as confidence in monetary institutions, and economic – such as the speed of money circulation, which allows a multidimensional analysis to obtain data that are more extensive. An emphasis is laid on is the study of modern conditions. The authors describe the main structural and systemic shifts that contributed to the transformation of the functions of modern money, and reveal that changes in functions of money affect the state of other functions, which confirms the statement that the functions of money are in the same system and affect each other. New functions of money were identified and described, which were formed in the process of transformations of the socio-economic sphere and began to reflect specific aspects that are affected in the process of using such an instrument as money. In the final part of the article, the authors make an assumption on further development of these functions.