Social Participation in Crypto Markets and Its Impact on Society

Аннотация

The topic "Social participation in crypto markets and its impact on society" is directly related to COPYRIGHT modern technologies, financial innovations and digital © 2025 Original content from this work may be used under the terms assets, and studies the social, economic and cultural of the creative commons attributes 4.0 License. consequences of the active participation of members of society in crypto markets. Within the framework of this topic, the perception of crypto currencies and blockchain technologies among the general public, their impact on social equality, financial inclusion and information literacy are analyzed. Also, special attention is paid to the new professions and sources of income that have arisen as a result of participation in crypto markets, the role of young people and technologically advanced groups. The article aims to analyze the positive and negative social consequences of crypto finance in a balanced way. Keywords: Crypto market, social participation, digital currencies, blockchain technology, financial inclusion, social equality, digital transformation, internet communities, crypto assets, new economic, opportunities. Introduction: Nowadays, the digital economy and a number of related effective technologies, including e- commerce and e-business, are rapidly entering our lives. That is why, in order to further accelerate the development of the state and society, the leadership of our republic has adopted a number of important decisions. For example, in his Address to the Oliy Majlis on the most important priorities for 2020 dated January 25, 2020, the President of the Republic of Uzbekistan also expressed his views on the development of the digital economy in our country. In addition, in order to European International Journal of Multidisciplinary Research 32 https://eipublication.com/index.php/eijmrms and Management Studies European International Journal of Multidisciplinary Research and Management Studies implement the Decree of the President of the Republic digital assets are becoming increasingly attractive as a of Uzbekistan No. PF-5349 dated February 19, 2018 “On new means of financing. This is facilitated by the measures for the further development of the sphere of experience of American companies that were the first information technologies and communications”1, as to use cryptocurrency as a means of payment and well as to create conditions for the rapid development thereby achieved incredible financial results - according of modern information technologies for the to statistical reports, after the introduction of the new implementation of the digital economy in the state payment method, the growth in revenue was about management system in our republic, as well as to 330%, and the growth in the customer base was 40%. ensure information security, the Cabinet of Ministers Although the world of cryptocurrencies is expanding adopted a Resolution on August 31, 2018 “On and gaining popularity, traditional banks are hesitant to additional measures for the introduction and further use these digital assets, believing that their inherent development of the digital economy in the Republic of risks outweigh the potential benefits. Banks may be Uzbekistan”, which defines the goals and objectives of cautious with cryptocurrencies, as transactions with the digital economy, and the Resolution of the these assets carry significant risks and therefore require President of the Republic of Uzbekistan No. PQ-3832 careful and expensive due diligence. However, digital dated July 3, 2018 “On measures for the development currencies can offer many advantages for financial of the digital economy in the Republic of Uzbekistan” institutions and their clients, they just need to study can also be included in these measures.[2] this market more. (K. Nazarov, 2023) At the current In recent years, cryptocurrencies and blockchain stage of human development, the virtual information technologies have led to revolutionary changes in the and communication environment has become an global financial system. Digital assets such as Bitcoin integral part of social reality, as a result of which society and Ethereum are becoming increasingly popular not has faced a new scientific research, namely the only among investors, but also among ordinary citizens, transition from the process of informatization young people, and technology enthusiasts. This process (computerization) to the process of digitization. is called “social participation” — that is, the active Participation in crypto markets is expressed in several participation of the general public in crypto markets, main forms: which significantly affects the level of financial literacy, 1. Crypto investing - ordinary citizens or small investors economic opportunities, and access to information in buy cryptocurrencies and benefit from their growth in society. This article examines the role of this social value. participation in crypto markets and the socio-economi