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Digital asset management in a Digital environment: algorithms and services

https://doi.org/10.26794/2404-022X-2021-11-4-6-24

Abstract

The paper describes the issues of value-based management of digital assets (DA). The relevance of the study is determined by the growth in the volume of digital assets under management and the need to develop new approaches to measuring their value. The subject of the research was the transformation of approaches to assessment and management in the digital economy. First of all, this concerns new types of assets. The goal is to form an integrated approach to the value management of assets in the digital environment. The paper uses methods of description, scientifc analysis and synthesis based on the specifc principles of valuation for management purposes defned in the article. The results are based on the digital assets identifcation for valuation and management purposes. The newly identifed types of DA require the use as traditional methods of discounting cash flows, as well as more brand new complex models for measuring value added, including the theory of real options. For this purpose, authors compared the classical approach to value-based management (based on value levers) with the recommendation algorithms which is growing trend for active use. Digital asset management involves the management model adaptation based on key value factors, characteristics, as well as features of the legal turnover. Decentralized systems are of the greatest interest and scientifc novelty in this area. They can provide the required level of trust and scalability. The paper shows the implementation of effective valuebased management requires a justifcation and selection of a digital environment, which is proposed as a decentralized fnancial services. As a result, the represented comprehensive algorithm is able to combine classical approaches to determining value for management purposes with the modern digital solutions (in particular, with machine learning methods). There is made an advisable conclusion to use this approach for valuation based on smart options for managing new types assets.

About the Authors

I.  M. Stepnov
Financial University
Russian Federation

 Igor M. Stepnov — Dr. Sci. (Econ.), Professor, Professor of the Department of Corporate Finance and Corporate Governance

Moscow 



М.  A.  Fedotova
Financial University
Russian Federation

 Marina A. Fedotova — Dr. Sci. (Econ.), Professor, Deputy Scientifc Director

Moscow 



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Stepnov I.M., Fedotova М.A. Digital asset management in a Digital environment: algorithms and services. Management Sciences. 2021;11(4):6-24. (In Russ.) https://doi.org/10.26794/2404-022X-2021-11-4-6-24

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ISSN 2304-022X (Print)
ISSN 2618-9941 (Online)