Analysis of the possibilities of using the distributed registry technology to improve the functioning of the sectors of the Russian economy [Анализ Возможностей Использования Технологии Распределённого Реестра Для Повышения Эффективности Функционирования Секторов Российской Экономики]

Abstract

This study analyzed the main mechanisms for achieving consensus in distributed ledgers. Different types of distributed ledgers were classified according to the characteristics of who can form data chains and who has access to them. Such important applications of the distributed ledger (blockchain) as smart contracts were examined in detail, the principle of their work was described, the features of functioning on various platforms were systematized. Most of the work is devoted to a detailed review of the use of blockchain technology in the financial sector. Using the analysis of individual international and domestic practices as an example, the benefits of using the blockchain in the banking sector and in payment systems are analyzed. In conclusion, recommendations are given for economic policy in the field of blockchain technology implementation.