In order to confirm the correspondence of a blockchain token to a digital asset aiming to use it in the existing international legal field, a special diagnostic methodology has been developed, which allows recording a digital asset in accounting documentation as an intangible asset in accordance with the International Financial Reporting Standards. This methodology makes a digital asset clear for the norms of the existing legislation within the frameworks of each particular jurisdiction. Thus, the expert classification of a blockchain token as a digital asset is the foundation for legally protected implementation of the owner’s property right to a digital asset in accordance with all accepted international standards.
The proposed mathematical formalization of the methodology for determining whether a blockchain token corresponds to a digital asset confirms the mathematical justification and reliability of this methodology.
The substantiation of essential features of the researched phenomenon, digital assets, in this research paper allows, among other things, analyzing the definition of the term, which is based on four components: economic, legal, information and value.
Clarification of this term, as well as the pointed out connection between its components, indicates that the use of digital assets also reveals the essential features of a blockchain token because their functions are comparable.
Using a blockchain token, if it is a digital asset, allows natural persons and business entities to keep balance accounting, as well as to estimate the main economic activity indicators, in particular production volume, cost of production, profit and cost-effectiveness of activity.