Assessment of decentralized system of smart-contacts effect on total output in digital economy

Abstract

The digitization of economic activity creates new opportunities for increasing the goods production level in conditions of severe resources limitation. Significant optimization can be achieved due to, firstly, reduction the costs of transactions, and, secondly, engagement in the economic turnover of poorly low nondistributable assets (for example, real estate). The paper studies the problems regarding applicability of smart contract in economic activities at the regional and federal levels. An attempt is being made to form a decentralized system of smart contracts. Based on the component-based analysis, the key trends of this system effect on the gross output at the federal and regional levels are determined. The authors propose a quantitative assessment of the impact of each of these factors. The macroeconomic model IS-LM is used, which takes into account the impact of digitalization processes in terms of implementing the smart contracts system, on the aggregated output indicators of the economic system.