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<article article-type="research-article" dtd-version="1.3" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xml:lang="ru"><front><journal-meta><journal-id journal-id-type="publisher-id">etl</journal-id><journal-title-group><journal-title xml:lang="ru">Экономика. Налоги. Право</journal-title><trans-title-group xml:lang="en"><trans-title>Economics, taxes &amp; law</trans-title></trans-title-group></journal-title-group><issn pub-type="ppub">1999-849X</issn><issn pub-type="epub">2619-1474</issn><publisher><publisher-name>Финансовый университет при Правительстве Российской Федерации</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="doi">10.26794/1999-849X-2026-19-1-79-88</article-id><article-id custom-type="elpub" pub-id-type="custom">etl-477</article-id><article-categories><subj-group subj-group-type="heading"><subject>Research Article</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="ru"><subject>ЭКОНОМИКА И УПРАВЛЕНИЕ</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="en"><subject>ECONOMICS AND MANAGEMENT</subject></subj-group></article-categories><title-group><article-title>Управление децентрализованными автономными организациями в условиях цифровизации</article-title><trans-title-group xml:lang="en"><trans-title>Management of Decentralized Autonomous Organizations in the Digitalization Setting</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0003-2999-2982</contrib-id><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Юхно</surname><given-names>А. С.</given-names></name><name name-style="western" xml:lang="en"><surname>Yukhno</surname><given-names>A. S.</given-names></name></name-alternatives><bio xml:lang="ru"><p>Александр Сергеевич Юхно — ​ кандидат юридических наук, доцент, заведующий кафедрой государствоведения, Институт государственной службы и управления РАНХиГС</p><p>Москва</p></bio><bio xml:lang="en"><p>Alexander S. Yukhno — ​ Cand. Sci. (Law), Assoc. Prof., Head of the Department of Stateness, Institute of Public Administration and Management</p><p>Moscow</p></bio><email xlink:type="simple">yukhno-as@ranepa.ru</email><xref ref-type="aff" rid="aff-1"/></contrib></contrib-group><aff-alternatives id="aff-1"><aff xml:lang="ru"><institution>Президентская академия</institution><country>Россия</country></aff><aff xml:lang="en"><institution>Russian Presidential Academy of National Economy and Public Administration</institution><country>Russian Federation</country></aff></aff-alternatives><pub-date pub-type="collection"><year>2026</year></pub-date><pub-date pub-type="epub"><day>28</day><month>02</month><year>2026</year></pub-date><volume>19</volume><issue>1</issue><fpage>79</fpage><lpage>88</lpage><permissions><copyright-statement>Copyright &amp;#x00A9; Юхно А.С., 2026</copyright-statement><copyright-year>2026</copyright-year><copyright-holder xml:lang="ru">Юхно А.С.</copyright-holder><copyright-holder xml:lang="en">Yukhno A.S.</copyright-holder><license xml:lang="ru" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>Данная работа распространяется под лицензией Creative Commons Attribution 4.0.</license-p></license><license xml:lang="en" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>This work is licensed under a Creative Commons Attribution 4.0 License.</license-p></license></permissions><self-uri xlink:href="https://etl.fa.ru/jour/article/view/477">https://etl.fa.ru/jour/article/view/477</self-uri><abstract><p>Предметом данного исследования являются управленческие модели децентрализованных автономных организаций (ДАО) в контексте цифровой трансформации экономики. Цель работы — ​ провести комплексный анализ концепции ДАО для выявления особенностей управления и разработки адаптивной модели, способствующей их интеграции в глобальную финансовую систему и государственное управление. Для достижения поставленной цели решались следующие задачи: анализ существующих подходов к управлению ДАО; выявление ключевых рисков и возможностей; моделирование гибридной организационной структуры; оценка роли стейблкоинов как стабилизирующего элемента. Научная новизна исследования заключается в разработке авторской адаптивной модели управления ДАО, сочетающей элементы централизации и децентрализации для повышения эффективности и легитимности. В ходе исследования применялись методы сравнительного и системного анализа, моделирования, а также анализа прак­ тических решений и нормативных документов. Результаты работы демонстрируют, что ДАО способны повысить прозрачность и эффективность экономических взаимодействий, выступая комплементарным инструментом к традиционным управленческим моделям. Ключевым выводом работы является необходимость формирования сбалансированной нормативно-­правовой базы и совершенствования управленческих механизмов для широкомасштабного внедрения ДАО. Результаты исследования могут быть использованы государственными органами, разработчиками блокчейн-­решений и специалистами в сфере государственного и корпоративного управления.</p></abstract><trans-abstract xml:lang="en"><p>The paper’s subject is examining decentralized autonomous organizations (DAOs) governance models during the digital economic shift. This study aims to deeply analyze DAOs to find governance aspects, and to develop a model to help integrate them into global finance and public administration. To achieve this goal, the study addressed the following tasks: analyzing existing methods to DAO governance; identifying key risks and opportunities; modeling a hybrid organizational structure; and assessing the role of stablecoins as a stabilizing element. The study’s novelty comes from the creation of a unique adaptive DAO governance model that combines elements of centralization and decentralization to enhance efficiency and legitimacy. The author used methods of comparative and systemic analysis, modeling, and real-world solutions and regulations. The results prove DAOs can complement traditional governance by making economic interactions more transparent and efficient. The study’s main takeaway is that DAOs need a balanced regulatory framework and better governance. Government agencies, blockchain developers, and specialists in public and corporate governance can use the work results.</p></trans-abstract><kwd-group xml:lang="ru"><kwd>блокчейн</kwd><kwd>децентрализованные автономные организации (ДАО)</kwd><kwd>смарт-­контракты</kwd><kwd>токенизация</kwd><kwd>стейблкоин</kwd><kwd>сетецентрическое управление</kwd><kwd>финансовая система</kwd><kwd>цифровая экономика</kwd><kwd>цифровая трансформация</kwd><kwd>цифровые активы</kwd></kwd-group><kwd-group xml:lang="en"><kwd>blockchain</kwd><kwd>decentralized autonomous organizations (DAOs)</kwd><kwd>smart contracts</kwd><kwd>tokenization</kwd><kwd>stablecoin</kwd><kwd>network-­centric governance</kwd><kwd>financial system</kwd><kwd>digital economy</kwd><kwd>digital transformation</kwd><kwd>digital assets</kwd></kwd-group></article-meta></front><back><ref-list><title>References</title><ref id="cit1"><label>1</label><citation-alternatives><mixed-citation xml:lang="ru">Zwitter A. 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