Our developments are useful for legislators in basically every country, financial, tax and banking state bodies, as well as for private companies when keeping books and performing accounting of virtual assets in their business activity.
Comprehensive Classification of Virtual Assets
The multilevel classification of virtual assets as tools for implementing methods of financial and management accounting of property is based on the complex nature of a virtual asset. This principle is aimed at representing the complex nature of the virtual assets by considering its components: technological, economic, legal, information and applied nature.
- The first classification level is based on the technological nature of virtual assets and allows distinguishing the following types: virtual asset of the distributed ledger and virtual asset of the non-distributed ledger.
- The second classification level is based on the economic and legal nature of virtual assets of the distributed ledger and allows distinguishing the following types: tokenized asset and crypto-asset.
- The third classification level prioritizes studying the features of the tokenized asset since this object is defined as the promising direction from the standpoint of its research potential and future application in economy and law. Digital asset of the decentralized information platform, monoasset of the distributed ledger token accounting system and polyasset of the distributed ledger token accounting system have been distinguished as part of this classification level.
Visual representation of the classification of virtual assets based on the complexity of their nature
The approach to classification of virtual assets as tools for implementing the methods of financial and management accounting of property is the foundation for creating a legal framework in order to objectively regulate relations in the field of application of virtual assets, as well as significantly lowers the requirements for subjects of legal relations in the field of application of virtual assets (users of distributed ledger token accounting systems, users of decentralized information platforms, as well as service providers and service users).
Overall, the proposed approach to classification allows giving a scientific answer to the question of how to compare the multitude of known virtual assets and how to relate them to the legal framework of a state.