DIGITAL ASSET MANAGEMENT PLATFORMS IN THE GLOBAL ECONOMY
Abstract
The study is aimed at identifying opportunities and challenges associated with the use of digital platforms in international asset management practice. It has been determined that using digital asset management platforms (DAMPs) helps asset managers make better investment decisions and keep tamper-proof records of asset ownership, transactions and other important data. Asset management companies are defined as a special type of investment institutions. in the context of the global economy. They provide collective investment instruments to their clients, namely retail (households) and institutional investors. Until the 1980s, asset management was a peripheral component of the overall business of international companies. But in the 21st century, asset managers are becoming some of the more dominant private financial institutions in the global economy. They are hired by governments around the world to provide financial advice. It is shown that the DAMP technology is based on: "network effects", when new users further increase the attractiveness of the platform for other users; economies of scale, when more information allows firms to develop better services, which attracts more users, who in turn generate more data; economies of scale arising from the predominantly fixed cost structure of platforms (which often results from the way providers can choose which costs to internalise and which to pass on to users). It is substantiated that the potential application of DAMP in asset management goes beyond traditional financial transactions, as it offers global investment management companies a wide range of opportunities to improve security, transparency and traceability in various industries. The article identifies the prospects of using DAMP by global investment management companies (interoperability, data security, efficiency and innovative methods of asset management, which indicates the transformational prospects for further integration of information technology into asset management), as well as problematic issues (regulation, interoperability, security and scalability, intercultural and organisational issues of cooperation).
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