DEVELOPMENT OF DIGITAL TRADE IN GLOBAL MARKETS: FINANCIAL AND INNOVATIVE ASPECTS

Abstract

The study is devoted to the relationship between financial and innovative aspects of the development of digital trade in global markets. The purpose of the study is to determine the innovative and financial aspects in the development of digital trade in global markets by revealing their relationship and identifying risks. The work elaborates on the system of risk formation in the development of digital trade on global markets, taking into account financial and innovative aspects. Digital technologies are the core of financial services, in turn, digital technologies interact with innovations through the development of cloud services, artificial intelligence, blockchain technology, etc. The adoption and use of financial services through innovation and digital technologies significantly improves the quality of service in digital commerce in global markets. Also, it is worth noting that in the modern conditions of digitization of life, innovations and digital technologies are a global phenomenon of ensuring economic stability. It has been clarified that economic, social and infrastructural risks arise in the field of development of global markets. While the symbiosis of global market risks and the development of digital trade lead to the emergence of their new types, namely: socio-economic, socio-infrastructural or infrastructural-economic ones. The study identified obstacles to the development of digital trade on global markets, which are manifested through financial and innovative aspects. Activities related to the development of digital trade in global markets in terms of financial and innovative aspects are often blocked by internal barriers related to financial limitations and the human factor. The key principle of the development of digital trade in global markets should be the achievement of a balance between ensuring the free exchange of information and the protection of private life, which in the conditions of modern realities is a difficult task.