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Digital tools to develop national and international business

Vol. 25, Iss. 6, JUNE 2019

Received: 16 January 2019

Received in revised form: 10 April 2019

Accepted: 24 April 2019

Available online: 28 June 2019

Subject Heading: INTERNATIONAL PAYMENT MECHANISMS

JEL Classification: F00, G00, O3

Pages: 1420–1443

https://doi.org/10.24891/fc.25.6.1420

Shevchenko I.V. Kuban State University (KubSU), Krasnodar, Russian Federation
decan@econ.kubsu.ru

https://orcid.org/0000-0003-0899-7100

Korobeinikova M.S. Kuban State University (KubSU), Krasnodar, Russian Federation
maria22@yandex.ru

https://orcid.org/0000-0002-5690-1284

Subject The article investigates digital tools in the development of national and international business.
Objectives The study aims to investigate possibilities of and prospects for the tools of digitalization in economy, and disclose the potential of missing instruments. We offer our own vision of new digital services for the public and business in such spheres as the financial and payment system, labor market, foreign trade, and certification of goods under ISO standards.
Methods The study rests on the PEST analysis method and expert evaluations.
Results We offer our own system of international financial payments intended for business, and a stable non-cash currency, i.e. Conventional Monetary Unit, as an alternative to single currency within the Commonwealth countries. The paper describes new State services as part of the Electronic Government of the Russian Federation activity. They include services for international certification of products manufactured by small, medium-sized and large business aimed at perfecting electronic foreign trade, and a large-scale portal on employment and resettlement of citizens to areas, where there are workplaces and skill formation.
Conclusions If introduced, our proposals will promote strengthening the Russian economy and building the capacity to accelerate progress by means of new digital services, programs and projects.

Keywords: digitalization, payment clearing system, international financial payments, conventional monetary unit, digital employment

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