DECENTRALIZED MONEY AND TRADITIONAL ECONOMIC THEORIES

The concept of decentralized money has undergone significant evolution, so present includes not only cryptocurrencies, but also decentralized financial instruments. In the form of decentralized exchanges (DEX), credit and insurance platforms, stablecoins and smart contracts. All these indicates both the importance of decentralized money and the freedom, transparency and desire for innovation of the financial system. In the conditions of the global economy, when the development of decentralized money is accompanied by economic and technological innovations, the study of the basic principles of decentralized money in the context of classical economic theories is on the agenda. Taking into account technological progress, the adaptation and expansion of classical approaches to economic principles will contribute to the discovery of new ways of financial inclusion and economic development. Therefore, it is necessary to understand in detail how modern financial innovations can change economic theories and what impact they can have on the formation of monetary policy in the long term. The study discusses classical and neoclassical monetary theories, the Austrian School of Economics and Modern Monetary Theory (MMT), a comparison of fundamental issues and the underlying principles of the economic model of decentralized money. Based on which we can conclude: decentralized digital money and the mechanisms of functioning of financial systems arising from new innovations, despite their different nature, in certain issues, rely on, repeat and adapt to fundamental economic paradigms. Keywords: classical economic theory, decentralized money, blockchain technology, Austrian school, modern monetary theory, cryptocurrency.