Using Сryptocurrency in E-Commerce: Building a Modern Process Improvement Model

Abstract

The use of cryptocurrency in e-commerce is becoming increasingly relevant in the modern world due to a number of advantages. It is this process that ensures the security of transactions, as cryptographic protocols protect personal information and unique identification. It is important to understand that the use of cryptocurrencies allows you to instantly make international payments without the need to involve intermediaries or high bank commissions. This simplifies the processes of economic interaction and increases the speed of transactions. Finally, cryptocurrencies open up access to new markets and customer bases, attracting more users to e-commerce who prefer digital forms of payments. The main purpose of the study is the formation of a modern methodological approach to improving the process of using cryptocurrency in e-commerce. The object of the study is e-commerce and cryptocurrency. The introduction of cryptocurrencies into e-commerce has a significant impact on commercial law in general, causing the need for new legal norms and regulations. Since cryptocurrencies are digital assets, they raise questions about their legal status, ownership, exchange, taxation and liability. The scientific task set within the article involves the construction of a modern model for ensuring the effective use of cryptocurrency in e-commerce. The research methodology involves the use of various methods, one of which is the IDEF modeling method. As a result of the study, a decomposition of a model for improving the use of cryptocurrency in e-commerce was presented. The study is limited by not taking into account the specifics of most countries in the world regarding the use and regulation of cryptocurrency. Prospects for further research are aimed at expanding the modeling process by taking into account the peculiarities of the impact of the use of cryptocurrency on ensuring financial security.