Financial system in the context of digital transformation of the economy

The article is devoted to the consideration of the features of the financial system development in the conditions of technological change, total digitalization of economic activity and social relations. The study presents current Russian and foreign practices and trends in the development of digital technologies in the financial system. The author critically examines the formation of institutions, the use of new tools and mechanisms in the decentralized sphere and the sphere of public Finance. The risks of digitalization that pose threats to certain elements of the financial system are identified.