FINTECH EVOLUTION: THE IMPACT OF BLOCKCHAIN TECHNOLOGY ON THE TRANSPARENCY OF INVESTMENT TRANSACTIONS

Abstract

The article explores the transformation of financial technologies under the influence of blockchain, focusing on changing the transparency of investment transactions. Based on the analysis of theoretical approaches to trust and empirical studies of the practices of using distributed ledgers in asset management, crowdfunding and syndicated lending, three key mechanisms for increasing transparency have been identified: cryptographic verification, smart contract automation of execution and role-based access differentiation. It is proved that blockchain transforms the institution of trust from interpersonal and institutional to algorithmic, reducing transaction costs, but creating new challenges in the field of privacy and regulatory regulation. It is shown that the introduction of distributed registry technologies leads to the emergence of “hybrid transparency” – a balance between public verifiability and maintaining the confidentiality of sensitive data.