CHANGING THE FINANCIAL SYSTEM WITH THE USE OF DIGITAL MONEY

AUTHOR – HIMANSY SINGH, STUDENT AT UNITEDWORLD SCHOOL OF LAW, KARNAVATI UNIVERSITY. EMAIL: HIMANSYSINGH1234@GMAIL.COM

BEST CITATION – HIMANSY SINGH, CHANGING THE FINANCIAL SYSTEM WITH THE USE OF DIGITAL MONEY, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (4) OF 2025, PG. 406-418, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

The digitization of money has revolutionized the financial system, introducing new forms of currency, decentralized finance, and blockchain technology. This paper explores the impact of these developments on the global financial system, including the emergence of digital currencies, the shift to decentralized finance, and the potential risks and benefits associated with these changes. The study examines the changing dynamics of the financial system, the role of blockchain technology, and the need for new regulatory frameworks to address the challenges and opportunities presented by digitization. The findings suggest that the digitization of money has the potential to increase efficiency, security, and accessibility in the financial system, but also raises concerns about volatility, security risks, and regulatory ambiguity. The paper concludes that a more robust and stable global financial system will require a coordinated approach to regulation, oversight, and innovation.

Keywords: Digitization of money, global financial system, decentralized finance, blockchain technology, regulatory frameworks, financial stability.