Pub Date : 2021-12-02DOI: 10.18559/978-83-8211-083-8/2
P. Marszałek
The purpose of the chapter is to characterize the phenomenon of cryptocurrencies in a broader macroeconomic context, namely as a potential monetary unit and an element of future rebuilt monetary systems. The chapter first presents the definitions and ways of understanding cryptocurrencies. Then, using a simple instrument, the SWOT matrix, the strengths and weaknesses of cryptocurrencies are presented, as well as the opportunities and threats that can be identified in relation to the performance individual functions of money by these units and being an element of monetary systems. The next part of the chapter overviews the most important areas of research on cryptocurrencies in their systemic, macroeconomic approach and applications. Then, general conclusions are drawn and the prospects for the development of cryptocurrencies in their monetary function are indicated.
{"title":"Kryptowaluty jako element systemu pieniężnego","authors":"P. Marszałek","doi":"10.18559/978-83-8211-083-8/2","DOIUrl":"https://doi.org/10.18559/978-83-8211-083-8/2","url":null,"abstract":"The purpose of the chapter is to characterize the phenomenon of cryptocurrencies in a broader macroeconomic context, namely as a potential monetary unit and an element of future rebuilt monetary systems. The chapter first presents the definitions and ways of understanding cryptocurrencies. Then, using a simple instrument, the SWOT matrix, the strengths and weaknesses of cryptocurrencies are presented, as well as the opportunities and threats that can be identified in relation to the performance individual functions of money by these units and being an element of monetary systems. The next part of the chapter overviews the most important areas of research on cryptocurrencies in their systemic, macroeconomic approach and applications. Then, general conclusions are drawn and the prospects for the development of cryptocurrencies in their monetary function are indicated.","PeriodicalId":110813,"journal":{"name":"Innowacje finansowe w gospodarce 4.0","volume":"130 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124240931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-02DOI: 10.18559/978-83-8211-083-8/5
Marcin Bielicki
Crowdfunding has revolutionized the way projects get done. Reward-based crowdfunding is currently the most important and popular type of crowdfunding. It allows not only to raise capital, but also to engage the community to co-create products. The aim of this chapter is to present the way in which the most important national and international crowdfunding platforms operate. Both the most important elements of a campaign and the factors determining the likelihood of success are presented. Finally, the trends occurring on the market and directions of further development of this form of financing are presented.
{"title":"Crowdfunding z nagrodami","authors":"Marcin Bielicki","doi":"10.18559/978-83-8211-083-8/5","DOIUrl":"https://doi.org/10.18559/978-83-8211-083-8/5","url":null,"abstract":"Crowdfunding has revolutionized the way projects get done. Reward-based crowdfunding is currently the most important and popular type of crowdfunding. It allows not only to raise capital, but also to engage the community to co-create products. The aim of this chapter is to present the way in which the most important national and international crowdfunding platforms operate. Both the most important elements of a campaign and the factors determining the likelihood of success are presented. Finally, the trends occurring on the market and directions of further development of this form of financing are presented.","PeriodicalId":110813,"journal":{"name":"Innowacje finansowe w gospodarce 4.0","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123881044","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-02DOI: 10.18559/978-83-8211-083-8/4
Katarzyna Włosik
This part of the monograph is related to initial coin offering – a mechanism that allows blockchain-based companies or projects to obtain financing. In return for financial support, ICO participants are offered different types of digital tokens – payment, utility or investment tokens. The chapter contains the systematization of issues related to ICO and tokens as well as a description of stages of initial coin offering. The SWOT analysis of ICO highlights the strengths and opportunities related to ICO – inter alia the possibility of portfolio diversification and the limited access for individual investors to early-stage investments (apart from ICO). Also the weaknesses of initial coin offering (e.g. the need to prepare a due diligence by an investor) and associated risks (e.g. regulatory uncertainty) are considered. Moreover, the author identifies research areas related to ICO. They include, among others, the identification of ICO success factors and the identification of factors affecting the rates of return on tokens.
{"title":"Initial coin offering jako nowa forma finansowania i inwestycji","authors":"Katarzyna Włosik","doi":"10.18559/978-83-8211-083-8/4","DOIUrl":"https://doi.org/10.18559/978-83-8211-083-8/4","url":null,"abstract":"This part of the monograph is related to initial coin offering – a mechanism that allows blockchain-based companies or projects to obtain financing. In return for financial support, ICO participants are offered different types of digital tokens – payment, utility or investment tokens. The chapter contains the systematization of issues related to ICO and tokens as well as a description of stages of initial coin offering. The SWOT analysis of ICO highlights the strengths and opportunities related to ICO – inter alia the possibility of portfolio diversification and the limited access for individual investors to early-stage investments (apart from ICO). Also the weaknesses of initial coin offering (e.g. the need to prepare a due diligence by an investor) and associated risks (e.g. regulatory uncertainty) are considered. Moreover, the author identifies research areas related to ICO. They include, among others, the identification of ICO success factors and the identification of factors affecting the rates of return on tokens.","PeriodicalId":110813,"journal":{"name":"Innowacje finansowe w gospodarce 4.0","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114280678","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-02DOI: 10.18559/978-83-8211-083-8/7
Krzysztof Waliszewski, Anna Warchlewska
Modern technologies play an increasingly important role in everyday life and, consequently, in planning and managing personal finances. The aim of the study is to assess the advantages and disadvantages as well as the opportunities and threats of using modern financial technologies in the process of managing personal finances. The chapter seeks to answer the research question whether the further development of the FinTech industry will influence the greater diversification of PFM applications in terms of functionality. The chapter consists of three main parts. The first presents the characteristics of PFM applications as a personal finance management tool. The second part provides a SWOT analysis of PFM. The chapter ends with a presentation of the results of primary and secondary research on the use of PFM applications and a conclusion.
{"title":"Aplikacje PFM jako FinTech w finansach osobistych","authors":"Krzysztof Waliszewski, Anna Warchlewska","doi":"10.18559/978-83-8211-083-8/7","DOIUrl":"https://doi.org/10.18559/978-83-8211-083-8/7","url":null,"abstract":"Modern technologies play an increasingly important role in everyday life and, consequently, in planning and managing personal finances. The aim of the study is to assess the advantages and disadvantages as well as the opportunities and threats of using modern financial technologies in the process of managing personal finances. The chapter seeks to answer the research question whether the further development of the FinTech industry will influence the greater diversification of PFM applications in terms of functionality. The chapter consists of three main parts. The first presents the characteristics of PFM applications as a personal finance management tool. The second part provides a SWOT analysis of PFM. The chapter ends with a presentation of the results of primary and secondary research on the use of PFM applications and a conclusion.","PeriodicalId":110813,"journal":{"name":"Innowacje finansowe w gospodarce 4.0","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127676144","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-02DOI: 10.18559/978-83-8211-083-8/10
E. Kalińska, T. Gabrusewicz
The chapter demonstrates the digital transformation process in financial audit. Digitization improves the audit quality and increases the added value for stakeholders. The use of information is more efficient and auditors could focus on significant risks. The use of new technologies in the audit of financial statements helps to obtain more relevant audit evidence.
{"title":"Transformacja cyfrowa procesu badania sprawozdań finansowych","authors":"E. Kalińska, T. Gabrusewicz","doi":"10.18559/978-83-8211-083-8/10","DOIUrl":"https://doi.org/10.18559/978-83-8211-083-8/10","url":null,"abstract":"The chapter demonstrates the digital transformation process in financial audit. Digitization improves the audit quality and increases the added value for stakeholders. The use of information is more efficient and auditors could focus on significant risks. The use of new technologies in the audit of financial statements helps to obtain more relevant audit evidence.","PeriodicalId":110813,"journal":{"name":"Innowacje finansowe w gospodarce 4.0","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121832944","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-02DOI: 10.18559/978-83-8211-083-8/6
Katarzyna Schmidt-Jessa
The aim of the chapter is to systematize the concepts related to digital-only banks, as well as a strategic analysis of the new banking model, which is the digital-only bank made using the SWOT method. The literature studies and analyses carried out have shown that there is a serious terminological chaos, which contributes to the misuse of concepts related to the FinTech sector for the purpose of characterising digital-only banks. Digital-only banks are FinTech institutions that have emerged after the global crisis of 2007–2009 and provide banking services under a full banking licence. These banks do not have subsidiaries, branches or offices and provide banking services only through mobile devices or the bank’s website. The SWOT analysis revealed that these institutions have many strengths and opportunities that they should competently exploit. However, it is noted that social resistance, fear of innovation or attachment to traditional banking may be barriers to the success of digital-only banks. At the same time, it seems that the coronavirus pandemic may contribute to the growing interest in digital-only banks.
{"title":"Bank internetowy (digital-only bank) – nowy model bankowości","authors":"Katarzyna Schmidt-Jessa","doi":"10.18559/978-83-8211-083-8/6","DOIUrl":"https://doi.org/10.18559/978-83-8211-083-8/6","url":null,"abstract":"The aim of the chapter is to systematize the concepts related to digital-only banks, as well as a strategic analysis of the new banking model, which is the digital-only bank made using the SWOT method. The literature studies and analyses carried out have shown that there is a serious terminological chaos, which contributes to the misuse of concepts related to the FinTech sector for the purpose of characterising digital-only banks. Digital-only banks are FinTech institutions that have emerged after the global crisis of 2007–2009 and provide banking services under a full banking licence. These banks do not have subsidiaries, branches or offices and provide banking services only through mobile devices or the bank’s website. The SWOT analysis revealed that these institutions have many strengths and opportunities that they should competently exploit. However, it is noted that social resistance, fear of innovation or attachment to traditional banking may be barriers to the success of digital-only banks. At the same time, it seems that the coronavirus pandemic may contribute to the growing interest in digital-only banks.","PeriodicalId":110813,"journal":{"name":"Innowacje finansowe w gospodarce 4.0","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126092559","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-02DOI: 10.18559/978-83-8211-083-8/8
Katarzyna Perez
The aim of this chapter is to answer the question whether the financial services market is able to permanently integrate the appropriate technology and day-to-day work of a traditional financial advisor, so that it is potentially as effective and automated as robots, and even offers a higher quality of services. If so, can the price of such advice be low enough to make it affordable to the average retail investor? The chapter presents the history and characteristics of an advisor 2.0 and a robo-advisor. Then, using the SWOT analysis, the strengths and weaknesses, as well as opportunities and threats for both types of services are shown. We base the analysis on the literature on financial advisory, which in the last decade has grown substantially in both variants due to the dynamic development of these services. The chapter ends with conclusions about the answer to the questions raised at front.
{"title":"Tradycyjny doradca finansowy 2.0 a robodoradca","authors":"Katarzyna Perez","doi":"10.18559/978-83-8211-083-8/8","DOIUrl":"https://doi.org/10.18559/978-83-8211-083-8/8","url":null,"abstract":"The aim of this chapter is to answer the question whether the financial services market is able to permanently integrate the appropriate technology and day-to-day work of a traditional financial advisor, so that it is potentially as effective and automated as robots, and even offers a higher quality of services. If so, can the price of such advice be low enough to make it affordable to the average retail investor? The chapter presents the history and characteristics of an advisor 2.0 and a robo-advisor. Then, using the SWOT analysis, the strengths and weaknesses, as well as opportunities and threats for both types of services are shown. We base the analysis on the literature on financial advisory, which in the last decade has grown substantially in both variants due to the dynamic development of these services. The chapter ends with conclusions about the answer to the questions raised at front.","PeriodicalId":110813,"journal":{"name":"Innowacje finansowe w gospodarce 4.0","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131575969","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-02DOI: 10.18559/978-83-8211-083-8/9
Przemysław Grobelny, T. Kaczmarek, M. Piotrowski
The chapter describes the characteristics of machine learning methods in their possible application in investment portfolio optimization. With the use of the SWOT analysis, the features of the algorithms responsible for their increasing popularization in the formulation of investment strategies and their limitations in this regard were discussed. The prospects for further development of machine learning were described in the context of the market and technological environment. In addition, based on the review of the research, the possibilities of using machine learning algorithms in managing the investment portfolio and the use of modern research methods, which can be a creative development of the needs and solution to the problems faced by researchers of financial science and financial market practitioners, have been presented.
{"title":"Uczenie maszynowe w budowie portfela inwestycyjnego","authors":"Przemysław Grobelny, T. Kaczmarek, M. Piotrowski","doi":"10.18559/978-83-8211-083-8/9","DOIUrl":"https://doi.org/10.18559/978-83-8211-083-8/9","url":null,"abstract":"The chapter describes the characteristics of machine learning methods in their possible application in investment portfolio optimization. With the use of the SWOT analysis, the features of the algorithms responsible for their increasing popularization in the formulation of investment strategies and their limitations in this regard were discussed. The prospects for further development of machine learning were described in the context of the market and technological environment. In addition, based on the review of the research, the possibilities of using machine learning algorithms in managing the investment portfolio and the use of modern research methods, which can be a creative development of the needs and solution to the problems faced by researchers of financial science and financial market practitioners, have been presented.","PeriodicalId":110813,"journal":{"name":"Innowacje finansowe w gospodarce 4.0","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131503441","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-02DOI: 10.18559/978-83-8211-083-8/1
Hanna Kołodziejczyk
This chapter describes blockchain – an IT tool which has found an innovative use in finance, creating a new, fast-growing segment within FinTech. Blockchain, connected to the field of Distributed Ledger Technology, over the last few years has become a proposed solution for problems ranging from keeping financial records to designing new forms of money. The chapter establishes the foundations for further research by explaining what blockchain is and how it works, describing its characteristic features and weighing them against each other in a SWOT matrix. Following that, a number of proposed and already implemented applications of the technology are presented and discussed. This includes: cryptocurrencies, investment/security tokens and the process of tokenizing other types of real-world assets as well as digital repositories.
{"title":"Zastosowania technologii blockchain w finansach","authors":"Hanna Kołodziejczyk","doi":"10.18559/978-83-8211-083-8/1","DOIUrl":"https://doi.org/10.18559/978-83-8211-083-8/1","url":null,"abstract":"This chapter describes blockchain – an IT tool which has found an innovative use in finance, creating a new, fast-growing segment within FinTech. Blockchain, connected to the field of Distributed Ledger Technology, over the last few years has become a proposed solution for problems ranging from keeping financial records to designing new forms of money. The chapter establishes the foundations for further research by explaining what blockchain is and how it works, describing its characteristic features and weighing them against each other in a SWOT matrix. Following that, a number of proposed and already implemented applications of the technology are presented and discussed. This includes: cryptocurrencies, investment/security tokens and the process of tokenizing other types of real-world assets as well as digital repositories.","PeriodicalId":110813,"journal":{"name":"Innowacje finansowe w gospodarce 4.0","volume":"33 11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115875504","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-02DOI: 10.18559/978-83-8211-083-8/3
M. Szczepkowski
Like any innovation, a virtual currency raises the question whether national tax systems are prepared for it. As a part of this study, the current areas of research that academics deal with in the context of the cryptocurrency market in Poland and in the world are presented. In addition, the issues of taxation of cryptocurrency transactions in developed countries, such as Germany, the United States and Japan according to the legal status for the fiscal year 2021, are discussed. The article also presents a summary of the most important solutions in force from 2019 regarding the taxation of cryptocurrencies in the field of income tax in Poland. The study is based on current literature and tax acts.
{"title":"Opodatkowanie kryptowalut w wybranych krajach świata","authors":"M. Szczepkowski","doi":"10.18559/978-83-8211-083-8/3","DOIUrl":"https://doi.org/10.18559/978-83-8211-083-8/3","url":null,"abstract":"Like any innovation, a virtual currency raises the question whether national tax systems are prepared for it. As a part of this study, the current areas of research that academics deal with in the context of the cryptocurrency market in Poland and in the world are presented. In addition, the issues of taxation of cryptocurrency transactions in developed countries, such as Germany, the United States and Japan according to the legal status for the fiscal year 2021, are discussed. The article also presents a summary of the most important solutions in force from 2019 regarding the taxation of cryptocurrencies in the field of income tax in Poland. The study is based on current literature and tax acts.","PeriodicalId":110813,"journal":{"name":"Innowacje finansowe w gospodarce 4.0","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128054012","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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