STATE AND PRIVATE DIGITAL PLATFORMS: HOW CAN THE NEXT TECHNOLOGICAL BREAKTHROUGH BE ACHIEVED?
##plugins.themes.bootstrap3.article.main##
##plugins.themes.bootstrap3.article.sidebar##
Abstract
The article is devoted to the analysis of the possibilities of new technologies to become the basis of the next world cycle and to create trends in labour productivity, which many countries of the world are facing. The subject of the study is new technologies and their impact on economic development. The purpose of the article is to highlight the economic trends of new technologies, which will become the basis for the rise of the next world economic cycle and create trends of increasing labour productivity, with the decline of which most countries of the world have been confronted. The article employs a range of analytical and synthetic methods, as well as systematic and comparative data analysis. The information base of the article comprises scientific articles, monographs and open statistical data from internet resources. The article provides an analysis of trends in the development of digital currencies. The article examines indicators of labour productivity, inflation rate, GDP growth rate, public debt. The research has shown that for the last 20 years there has been no stable sustainable growth of labour productivity, GDP growth has slowed down, which in recent years has practically not grown, the most developed countries are increasing public debt, as the stagnation of labour productivity does not allow to make projected budgets and pay old debts. This suggests that further economic growth requires a new wave of technological progress, which can be ensured by an excess of "cheap money". Debt is growing and serves as an additional emission of money that is hastily thrown into the economy, as in Japan and the US, for example, but it is not taken into account that this is very expensive money because the interest on the bonds issued has to be repaid, which places an additional burden on the budgets. In conclusion, with rising public debt and stagnating GDP growth, it will be difficult for the state to cope with the influence of big data, and managers of such companies can have a noticeable influence on the political system of any country. This suggests that further economic growth requires a new wave of technological progress, which can be ensured by an excess of "cheap money".
How to Cite
##plugins.themes.bootstrap3.article.details##
cryptocurrency, performance, technology, tokenisation, big data
Baltgailis, J., & Simakhova, A. (2022). The Technological Innovations of Fintech Companies to Ensure the Stability of the Financial System in Pandemic Times. Marketing and Management of Innovations, 2, 55–65. DOI: http://doi.org/10.21272/mmi.2022.2-05
Baltgailis, J., Simakhova, A., & Buka, S. (2023). Digital Currencies and Fintech Innovation Technologies for Economic Growth. Marketing and Management of Innovations, 14(3), 202–214. DOI: https://doi.org/10.21272/mmi.2023.3-18
Bank of Canada (2021). Expiring Central Bank Digital Currency and Loss Recovery. Available at: https://www.bankofcanada.ca/wp-content/uploads/2021/12/swp2021-67.pdf
BBC (2024). EU court rules Google must pay €2.4bn fine. Available at: https://www.bbc.com/news/articles/cjw3e1pn741o
BBC (2025). OpenAI says Chinese rivals using its work for their AI apps. Available at: https://www.bbc.com/news/articles/c9vm1m8wpr9o
BIS (2022). Christine Lagarde: Digital euro – a common European project. Available at: https://www.bis.org/review/r221108a.htm
BIS (2023). III. Blueprint for the future monetary system: improving the old, enabling the new. Available at: https://www.bis.org/publ/arpdf/ar2023e3.htm
BlackRock (2024). Bitcoin: A Unique Diversifier. Available at: https://www.blackrock.com/us/financial-professionals/insights/bitcoin-unique-diversifier
CEIC (2025). Labour Productivity Growth. Available at: https://www.ceicdata.com/en/indicator/japan/labour-productivity-growth
Chainalysis (2024). The Chainalysis Crypto Spring Report. Available at: https://www.chainalysis.com/
CNN Business (2021). How Facebook managed to ‘unfriend’ Australia while Google came out on top. Available at: https://edition.cnn.com/2021/02/18/tech/google-facebook-australia-media-bargaining-intl-hnk/index.html
Coindesk (2024). Senator Lummis Proposes the U.S. Buy 1M Bitcoin to Reduce National Debt. Available at: https://www.coindesk.com/policy/2024/07/27/us-senator-lummis-proposes-the-us-buy-1m-bitcoin-to-reduce-national-debt
Cumming, D., Drobetz, W., Momtaz, P. P., & Schermann, N. (2025). Financing decentralized digital platform growth: The role of crypto funds in blockchain-based startups. Journal of Business Venturing, 40(1), 106450. DOI: https://doi.org/10.1017/9780511780240
ECB (2020). ECB Working Paper Series, 2351. P. 4. Available at: https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2351~c8c18bbd60.en.pdf
ECB (2023). ECB Working Paper Series, 2783. Available at: https://www.ecb.europa.eu/press/research-publications/working-papers/html/index.en.html
European Commission (2016). Press release: State aid: Ireland gave illegal tax benefits to Apple worth up to €13 billion. Available at: https://ec.europa.eu/commission/presscorner/detail/en/ip_16_2923
European Commission (2024). Available at: https://digital-markets-act.ec.europa.eu/commission-opens-non-compliance-investigations-against-alphabet-apple-and-meta-under-digital-markets-2024-03-25_en
Forbes (2024). BlackRock's $10 Trillion Tokenization Vision: The Future Of Real World Assets. Available at: https://www.forbes.com/sites/nataliakarayaneva/2024/03/21/blackrocks-10-trillion-tokenization-vision-the-future-of-real-world-assets/
Forbes (2024). Bitcoin 2024: When Rage Became The Machine. Available at: https://www.forbes.com/sites/digital-assets/2024/07/31/bitcoin-2024-when-rage-became-the-machine/
Forbes (2025). The Stargate Project: Trump Touts $500 Billion Bid For AI Dominance. Available at: https://www.forbes.com/sites/moorinsights/2025/01/30/the-stargate-project-trump-touts-500-billion-bid-for-ai-dominance/
Hegel, G. (2021). Science logic. Cambridge University Press. Online publication DOI: https://doi.org/10.1017/9780511780240
Hudson, M. (2015). Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy. Islet; First Edition – 440 pp.
IMF (2023). General Government Debt. Available at: https://www.imf.org/external/datamapper/GG_DEBT_GDP@GDD/CAN/FRA/DEU/ITA/JPN/GBR/USA
Investopedia (2018). 80% of ICOs Are Scams: Report (2018). Available at: https://www.investopedia.com/news/80-icos-are-scams-report/
Kant, I. (1989). Foundations of the Metaphysics of Morals, Pearson 2nd edition, 128 p.
Lyons, L. (2021). Ireland’s status as tax haven for tech firms like Google, Facebook, and Apple is ending / The country has signed on to an EU deal that aims to reduce tax avoidance. Available at: https://www.theverge.com/2021/10/7/22715229/ireland-status-tax-haven-google-facebook-apple
McKinsey (2024). From ripples to waves: The transformational power of tokenizing assets. Available at: https://www.mckinsey.com/industries/financial-services/our-insights/from-ripples-to-waves-the-transformational-power-of-tokenizing-assets
McKinsey Global Institute (2023). MGI director Olivia White. How our interconnected world is changing. Available at: https://www.mckinsey.com/mgi/our-research/how-our-interconnected-world-is-changing
OECD (2022). Why Decentralised Finance (DeFi) Matters and the Policy Implications. Paris. Available at: https://www.oecd.org/daf/fin/financial-markets/Why-Decentralised-Finance-DeFi-Matters-and-the-Policy-Implications.pdf
OECD (2024). OECD Compendium of Productivity Indicators 2024, OECD Publishing, Paris. DOI: https://doi.org/10.1787/b96cd88a-en
Panetta, F. (2022). Crypto dominos: the bursting crypto bubbles and the destiny of digital finance. Keynote speech by Fabio Panetta, Member of the Executive Board of the ECB, at the Insight Summit held at the London Business School. Available at: https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp221207_1~7dcbb0e1d0.en.html
Reuters (2024). Exclusive: Meta to be hit with first EU antitrust fine for linking Marketplace and Facebook. Available at: https://www.reuters.com/technology/meta-be-hit-with-first-eu-antitrust-fine-linking-marketplace-facebook-sources-2024-07-25/
Schumpeter, J. A. (2014). Business Cycles: A Theoretical, Historical And Statistical Analysis of the Capitalist Process. Martino Pub; First Edition – 1128 pp.
Schwab, K. (2017). The Fourth Industrial Revolution. Crown Business, New York. – 192 pp.
Schwab, K., & Mallerett, T. (2020). COVID19: The Great Reset. World Economic Forum, p. 129. Available at: https://www.math.uwaterloo.ca/~ervrscay/TheGreatReset.pdf
Surucu-Balci, E., Iris, Ç., & Balci, G. (2024). Digital information in maritime supply chains with blockchain and cloud platforms: Supply chain capabilities, barriers, and research opportunities. Technological Forecasting and Social Change, 198, 122978.
Taylor & Francis online (2024). Is bitcoin a diversifier, hedge or safe haven for traditional and alternate asset classes? Available at: https://www.tandfonline.com/doi/full/10.1080/23322039.2022.2156092#d1e1905
Trading Economics (2024). Inflation Rate. Available at: https://tradingeconomics.com/country-list/inflation-rate?continent=world
Trading Economics (2025). GDP growth rate. Available at: https://tradingeconomics.com/country-list/gdp-growth-rate?continent=world
Zuboff Sh. (2019) The Harvard Gazette. Available at: https://news.harvard.edu/gazette/story/2019/03/harvard-professor-says-surveillance-capitalism-is-undermining-democracy/
Zuckerberg M. (2024). Available at: https://about.fb.com/news/2024/07/open-source-ai-is-the-path-forward/
Zutshi, A., Grilo, A., & Nodehi, T. (2021). The value proposition of blockchain technologies and its impact on Digital Platforms. Computers & industrial engineering, 155, 107187.
This work is licensed under a Creative Commons Attribution 4.0 International License.