Digital model of sharing economy: blockchain technology management

Abstract

The modernization of traditional process and service industries, organization of trading and procurement procedures, related financial and logistical operations, change in the structure of consumption associated with the through penetration of information technologies and digitization of economic processes creates the basis for formation of new markets and conditions for their functioning. As employees, consumers, businesses, and manufacturing processes become increasingly related as a single digital space, digitalization offers wide possibilities for new decision-making models being the basis for ongoing global economic and social transformations which change business and consumer models, one of which is the sharing economy. The digital model of sharing economy will be developed and transformed in the next few years to achieve the main purpose – the use of unengaged or underused assets in the economy. In this regard, the search for new tools and technologies for business models development is vital. The authors present the content, advantages, current state and prospects for development of the distributed registry technology (blockchain). It is presented that it will increase transparency, security and efficiency of transactions of economic entities in various financial and non-financial fields. A transactional model of the economic system based on the blockchain technology is presented. The sharing economy features and characteristics are given.