Solidarization of Digital Finance: European Experience of Institutionalization
Kornіvska V. O.

Kornіvska, Valerіia O. (2026) “Solidarization of Digital Finance: European Experience of Institutionalization.” The Problems of Economy 1:243–251.
https://doi.org/10.32983/2222-0712-2026-1-243-251

Section: Finance and banking

UDC 336.341

Abstract:
The article systematizes the transformations of economic and financial relations during the digital transition and substantiates the non-market nature of the modern digital economic system, where the economic potential of digital agents is formed through algorithmic mechanisms of supervision and authoritative influence. The impact of the dominant nature of digital platforms on traditional market coordination mechanisms is examined, and the risk of State digital supervisory competition is identified. The necessity of regulatory limitation of the influence of digital financial institutions and the development of a new logic of State regulation is substantiated, based on recognizing the non-market nature of the digital economic system, built on the rationalization and moderation of subjective choice through algorithmic mechanisms, and affirming socio-institutional standards of the digital transition, which are based on societal rather than individual-private interest. A conception of solidarity in digital finance has been proposed, which involves the institutional and technological orientation of digital financial institutions in the direction of synchronizing their own and societal benefits from the digital transition, harmonizing digital financial development through the implementation of digital transformations while maintaining non-digital alternatives. The practices of the European Union regarding the institutionalization of digital finance in the context of their solidarity have been analyzed. It has been proved that the key stages of institutionalizing digital financial development in the EU demonstrate the gradual formation of socio-institutional foundations of a solidarized model of digital finance. This is manifested in the development of standards for the functioning of digital finance, focused on prioritizing the public interest; in the approval of socio-institutional inclusion as a sustainable law-making practice through the involvement of all market participants in the formation of institutional rules in this field; as well as in strengthening the institutional responsibility of digital financial institutions to consumers with the aim of developing proper digital financial culture.

Keywords: digital finance solidarity, digital transition, non-market economic relations, socio-institutional standards, State regulation.

Bibl.: 22.

Kornіvska Valerіia O. – Doctor of Sciences (Economics), Senior Research Fellow, Sector of Digital Economy of the Department of Economic Theory, SO "Institute for Economics and Forecasting of NAS of Ukraine" (26 Panasa Myrnoho Str., Kyiv, 01011, Ukraine)
Email: vkornivska@ukr.net

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