Abstract
This article analyzes the stages of development of financial innovations and technologies from a scientific point of view. The evolution of financial technology has progressed in several stages, particularly on the basis of advanced innovations such as digital technologies, artificial intelligence and blockchain. These stages affected such important factors as increasing efficiency in the financial system, ensuring the security of transactions and forming new business models. The article also examines the role of technological progress in global financial markets and its impact on economic stability.
References
Allen, F., & Gale, D. (2000). Comparing Financial Systems. MIT Press;
Arner, D. W., Barberis, J., & Buckley, R. P. (2016). FinTech, RegTech, and the Reconceptualization of Financial Regulation. Northwestern Journal of International Law & Business, 37(3), 371-413;
Beck, T., & Levine, R. (2004). Stock Markets, Banks, and Growth: Panel Evidence. Journal of Banking & Finance, 28(3), 423-442;
Brown, M., & Rogers, M. (2020). The Role of Blockchain in Financial Innovation: Impacts and Challenges. Journal of Financial Innovation, 12(1), 45-68;
Chen, Z., Li, H., Wu, S., & Luo, H. (2017). The Role of FinTech in Revolutionizing the Financial Industry. Asia Pacific Journal of Finance and Banking Research, 11(2), 23-38;
Gomber, P., Kauffman, R. J., Parker, C., & Weber, B. W. (2018). On the Fintech Revolution: Interpreting the Forces of Innovation, Disruption, and Transformation in Financial Services. Journal of Management Information Systems,
(1), 220-265;
Merton, R. C. (1995). A Functional Perspective of Financial Intermediation. Financial Management, 24(2), 23-41;
Nakamura, L. I. (2021). Digital Currencies and Financial Stability: Evaluating the Impact on Global Markets. International Journal of Financial Studies, 9(4), 58-72;
Philippon, T. (2016). The FinTech Opportunity. NBER Working Paper No. 22476;
Schueffel, P. (2016). Taming the Beast: A Scientific Definition of Fintech. Journal of Innovation Management, 4(4);
Site of Gazeta.uz.