The role of Perfect Money payment system in global economy

Nowadays society is on such development level when new information technologies spread fast and under the influence of this process many aspects of social and economic life change. Global economy becomes more virtual, for example, on-line banks, shops and stores, libraries, stock exchanges which are common in our life now. And due to it new payment systems appear, Perfect Moneyin particular, which are necessary to provide cash flow between different spheres of economy. New telecommunication systems lead not only to qualitative changes in movement of financial and real investments, flow of products, in production management but also to internationalization of almost all segments of markets, culture, education, housekeeping, human values and relationships. Internet as most bright appearance of new informational technologies became the symbol of new world, new political and economical decisions, and the symbol of modern people.
According to one professor from UK “up-to-day economical systems are characterized the most important tendency – progress of knowledge and complication of social and economic life”.
In Russian scientific literature one only start making attempts of analyzing of economical relationships’ elements which form by transferring enterprise activity of small, average and big business’ subjects into informational sphere of global and local networks such as Internet. So, economists, managers and lawyers consider practical issues of send money online problems of moving goods to new markets and sales management systems, effectiveness of advertising in Internet, management of Internet shopping, etc.
The globalization of world economy, as well as positive and negative aspects of this phenomenon are, perhaps, one of the most popular and debatable areas in contemporary humanitarian scientific thought. A huge number of publications are devoted to globalization; its discussion becomes the subject of many conferences and meetings. It should be noted that the qualitative feature of contemporary globalization is its all encompassing nature, involving all the international community into an open system of socio-political, financial, economic and socio-cultural relations on the basis of new informational and communication technologies. There is not just speeding up of communication processes in the world, but also implementation of communication in real time. In this regard, globalization can be considered as informational, while the Internet has become the basis for today’s globalizing world. As globalization will cover all major areas of the world economy, it is necessary to create legal settlement of these processes. But unfortunately, today the legal regulation of electronic commerce in Russia is at an early stage in its development.
The development of e-business money transfer s an important part of the world economy. Its classical institutions, including the institution of the transactions, have not lost its significance in terms of active usage of new information technologies.
Now one needs, first of all, the accumulation of practical application of legal rules in the sphere of electronic commerce. Based on the generalization of this practice will be possible further improvement of legislation.
Several difficulties there are in procedural aspects of the right protection and legitimate interests that may be violated during electronic commerce work. However, it is another issue. Here, alternative means of dispute resolution must be effective, one of which is to transfer the dispute to the specialized arbitral tribunals created by the business community. This court, for example, is the arbitral tribunal Association of Networks.

April 11 2009 12:21 am | Miscellaneous

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