Blockchain and Smart Contracts for Support the Interaction between the Actors in the Regional Innovation System

Abstract

The paper covers the issues of development of a mechanism for ensuring reliable and secure interaction among participants in regional innovation systems based on the establishment of smart contracts in the blockchain. The technology allows to reduce the possibility of fraud by dishonest participants, as well as to exclude the need for a third party by transferring its functions to a smart contract. This mechanism is important for ensuring confidential and transparent relations between participants in innovative projects, as well as with all interested stakeholders in regional economic system.