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Description

What is happening with the digitization of markets, finance and international trade is beginning to challenge the current understanding of monetary and financial systems, as countries move more aggressively towards cashless systems, which loom as a potential technological underpinning. Digital business models, traditionally associated with expanding access to financial products such as payments, credit, insurance, etc., have attracted the most funding and attention. But, they experienced the most innovation that led to new business models in their real economies. Also, private investors, often through the capital markets, have started to create innovative financing instruments mostly in the sectors, towards climate action, clean environment, etc. The electronic international movement of capital also got such a scale, with which the technological industry got a faster development for easier locating of the desired countries. This allowed for a greater volume and speed of transfer of capital, information and the like from one place to another, and the aim was to encourage even economic growth. Therefore, this paper explores the need, role and importance of the digitization of financial markets, which have primarily become more visible in key segments of countries' economies. Namely, from the very beginning of the year 2000, Internet platforms and electronic networks began to appear that carried out international trading via the Internet. Examples of such well-known networks are Amazon, Ali-express, eBay and other giants of international trade. The interesting fact is that these electronic networks developed the most during the beginning of the pandemic, because they greatly facilitated international trading over the Internet. It was of essential importance that during the pandemic the concept of the digital economy became the basic source for the way of organizing activities aimed at the creation of (goods and services). Namely, the goal was to simplify people's consumption, and thus to develop and implement digital computer technologies. This made it possible to process a large amount of information and develop the range of services and markets.