Today, in the world and in Ukraine, in particular, along with fiat money, there are cryptocurrencies in circulation. One type of cryptocurrency is non-fungible tokens (NFT). NFT is a type of digital asset created on the blockchain basis, which allows you to obtain ownership of a product that exists exclusively on the network (images, videos, animations). NFT opens up new opportunities for intellectual property objects. The purpose of the article is to research the theoretical foundations of cryptocurrency accounting, in particular one of its types, non non-fungible token (NFT). NFT framework is the ERC-721 (Ethereum Request for Comments 721) standard for issuing and trading non-fungible assets. The creation of legislative norms to regulate relations related to cryptocurrencies has just begun in Ukraine. The Law "On Virtual Assets" was adopted in Ukraine, but it has not entered into force. Accounting issues remain unsettled due to the lack of a regulatory framework.
This document considers crypto currencies as a new form of economic asset that gains more and more popularity. They show elements of “money” and although are not recognized as official means of payment they can be used for selling and buying goods and services. As such, they could be considered as competitive to “fiat” money and can influence world economy and country’s national security. Alongside the positive aspects of the cryptocurrencies, they are a good foundation for illegal activities.
The article studies formation trends and innovative features of digital assets and cryptocurrencies in economic processes in the context of building an information society. The relevance of formation and regulation of new directions of effective development of the economic environment with the widespread use of digital technologies is justified. Possibilities of formation and application of cryptocurrencies in economic processes are studied, their formation factors, essence, content and innovative features were included in the research process. The scientific-methodological bases of studying the impact of the application of electronic money on the economy and business process are explored. Operation characteristics of currencies and digital assets in the virtual economic environment are explained. Formation and development stages of digital currencies according to the market value are analyzed, the main features are mentioned. The process of conducting transactions using them is presented schematically. The operation mechanism of the utilization process of blockchain technology was created. The main elements of trading with cryptocurrency market are identified based on its structural scheme. Alongside Bitcoin, the features of other alternative cryptocurrencies are analyzed. Their comparative advantages, similarities and differences, application aspects are studied. The market capitalization of cryptocurrencies is demonstrated schematically. Proposals and recommendations are developed for consideration of trends and innovative features of cryptocurrencies in new economic platforms.
І. М. Грищенко, Yurii Bondar, Svitlana Serohina, Ірина Бодрова · 5 authors
Decentralization is a common component of public finance development and reform strategies through efficiency, better governance and accountability. It has become particularly important for the local governments to recognize and test policies and practices that promote building the capacity of local communities by revealing their latent potential. The aim of the article was to identify and describe the current state of the decentralization process in Ukraine and in the EU, the problems and achievements of local communities. Observation and comparison were the leading methodological tools. The research found that the effective development of territorial communities of Ukraine requires further implementation of the relevant regional strategic planning of the European Union. The appropriateness and prospects of the LEADER/CLLD approach in the form of cooperation and partnership between urban and rural areas were established. Fiscal decentralization as a basic factor on the way to improving the level of regional development was determined through a comparative analysis of the factors of positive dynamics of development of territorial communities in the EU and Ukraine. A comparative analysis of the practice of Ukraine and EU countries in the implementation of LEADER/CLLD projects in the context of building the capacity of local communities by revealing their latent potential is a promising vector of further research.
The cryptocurrency market is rapidly gaining momentum and is becoming an alternative financial platform to the traditional financial trading market. Currently, cryptocurrency is of particular interest to criminals to make illegal profits, such as money laundering, terrorist financing, financing the proliferation of weapons of mass destruction, corruption. The main purpose of the study is to identify information signs that indicate the implementation of illegal financial transactions using cryptocurrencies. Empirical (observation, description) and theoretical (grouping, synthesis, abstraction) research methods were used for this research. According to the results of the study, it is established that the signs of illegal transactions with cryptocurrency are: non-transparent cryptocurrency contracts; encrypted cryptocurrency transactions; impersonal transactions; fragmented systematic transactions into marginal, limited amounts to avoid identification; transactions that do not comply with the approved transaction protocols; currency exchange transactions by unidentified traders; confusing cryptocurrency to other forms of electronic funds in order to withdraw such funds in cash. The authors of the article identify the main agents in the cryptocurrency economy (centralized and decentralized cryptocurrency exchanges, token issuers, distribution services, gaming services, cryptocurrency wallets). The paper describes software products for the identification of illegal cryptocurrency transactions. The results of the study are of practical value to national regulators in strengthening financial stability and combating illegal financial transactions. management of financial institutions to improve the system of counteraction to illegal financial transactions using payment cards, namely the creation of separate bodies for analysis and regulation of fraud in the banking sector, strengthening responsibility for fraud at the legislative level, establishing a single authentication standard for customers, development of open banking.
This paper considers the processes of digitalization of urban management, which forms the prerequisites for solving the problem of the development of the concept of smart cities. As a result, the historical aspects of the formation of the Smart City concept are distinguished. Based on this, elements of the Smart City concept are highlighted at the present stage, such as vision, ecosystem, management, technological background, and financing. Generalization of the results of the study of the processes of digitalization of smart city management has made it possible to distinguish its traditional components, which include transport, energy, utilities, urban environment, security, and "smart" house. In order to ensure effective monitoring of the implementation and development of digital services in the smart city management system, it is proposed to use "city smartophores". The systematization of the Smart City formation experience provided an opportunity to distinguish the relevant models of digitalization of urban governance – decentralized, centralized, and local. The scope of application, initiators, advantages and disadvantages, and prospects for the development of each of them are determined. Unlike other results of the study of the effectiveness of the development of smart cities, it is suggested that the most vivid picture of ensuring a comfortable life in the city is demonstrated by the size of its population. It is proved that it is in the developed cities of any country in the world that there are positive rates of population growth. Quantitative criteria for determining the upper and lower limits of the efficiency of smart city development according to the selected indicator have been developed. The practical application of the results of the study is the possibility of predicting further directions of development of the smart city based on a quantitative assessment of the level of its digital transformation
Lidia A. Terekhova, С.В. Терехов, Georgii T. Chanturiia, Natalia N. Lyublinskaya · 5 authors
The first cryptocurrency appeared in 2009 and since then, both the number of active cryptocurrencies and the number of owners of crypto accounts have been steadily increasing. Despite the lack of a unified position on the issue of its legalization and the legality of its use for settlements and transactions on a par with “real” money, more and more users, both among individuals and legal entities, are inclined to the prospects of cryptocurrency investments, as evidenced by the investment policy of a number of large Wall Street companies in 2020–2021. Thus, the relevance of the chosen topic is due to the need to analyze the dynamics of the young cryptocurrency market, which is developing according to its own laws, which differ from the mechanisms of functioning of traditional markets. The development of the cryptocurrency market is influenced by factors such as the number of investors and the degree of development of blockchain technologies. The purpose of the study is to identify the factors that control the dynamics of the cryptocurrency exchange rate and assess their impact on the current state of the cryptocurrency market. To achieve this goal, such scientific and practical research tasks were formulated as identifying factors affecting the popularity of cryptocurrencies in the world; describing the advantages and disadvantages of using cryptocurrencies; conducting a retrospective analysis of the world experience in regulating the cryptocurrency market and analyzing the dynamics of the value of cryptocurrencies, using Bitcoin as the first and most popular cryptocurrency in the world. Particular attention was paid to the problem of identifying the factor that influenced the downward dynamics of the value of cryptocurrencies since mid-September 2021. When writing the article, such methods as analysis of statistical information, analysis of the dynamics of individual elements of the market, a forecast based on consumer judgments, the study of global strategy directions, and others were used. The result of the study was the disclosure of the influence of a new factor on the cryptocurrency market – energy.
Introduction. The article studies the practice and methods of the municipal owned enterprises management in the EU, including methods of forming their capital. Problem. Ukrainian decentralization reform has increased the scientific interest in the problematic issues of municipal owned enterprises’ financing. Military aggression against Ukraine have raised these issues. The aim of the article is disclosure, systematization and generalization of European experience in the organization, management and financing of municipal in European countries and development of proposals for the use of best practices in Ukraine. Methods. Methods used: historical, generalization; analysis using tabular and graphical; inductive; abstract-logical. Results. The practice of the municipal owned enterprises capital formation is characterized by the two types of relations: full ownership of the municipality or mixed ownership. The number of the municipal owned enterprises in the EU has increased in recent years, but this growth has been uneven. Provision of financial support to such enterprises by local authorities is carried out in the following forms: grants, tax conditions, loans and direct financial support. Conclusions. There is no unified practice for the financing of municipal enterprises in the EU, as there is no significant diversity in terms of countries. There is also no significant trend towards total privatization, in many European countries the number of utilities is growing, which indicates the increasing of the public sector influence on the economic situation in the EU. The solution to the problems of our municipal companies must lie in the adoption of the best European practices. In particular, the provision of grants to finance socially significant enterprises or enterprises in financial difficulties can be considered as one of the best practice.
Introduction. Dynamic changes in the geo-economic and geopolitical spaces associated with the global financial crisis of 2008-2009, the coronavirus pandemic and the Russian-Ukrainian war have led to the accelerated development of fintech, in particular the emergence of cryptocurrencies. Problem. The high probability of widespread use of cryptocurrencies as a means of payment, circulation and investment with particular urgency raises questions about their regulation at the state and international levels. Purpose: an in-depth analysis of the strengths and weaknesses of cryptocurrencies in terms of their regulation within the respective models. The presentation of the material of the article. Cryptocurrencies (bitcoin and others), while not related to fiat money, still have a number of strengths, in particular, such as decentralized character. At the same time, they have many weaknesses, namely, the imperfection of blockchain technology; significant energy consumption of mining; high volatility; the presence of "bad actors" associated with laundering "dirty money"; displacement of national currencies. It is for their neutralization that the regulatory mechanism should be used. Currently, five models of cryptocurrency regulation have been clearly outlined: repressive, which implies a complete ban (Bolivia, etc.); conservative - allows them to buy and sell only to individuals (China); liberal - provides for most operations of their circulation (EU, Ukraine, USA, etc.); legal circulation (Switzerland, Japan, etc.); permitting, under which bitcoin is recognized as a legitimate means of payment (El Salvador). The formation of cryptocurrency regulation models is influenced by the actions of world and national regulators, international payment systems and stock markets.Results and its discussion. Conclusions. Despite significant restrictions, the global volume of cryptocurrency transactions is growing rapidly. Ukraine's cryptocurrency use index, including for the defense of the country, is one of the world leaders.
Cryptocurrency has become an issue that have attracted the attention of individuals, investors and government taking into play that the rate at which it is been patronized online and the media hype its getting. This paper tends to examine cryptocurrency as an investment tool and its missing link. However, the paper identifies the major types of cryptocurrencies, how is it exchanged and measured. It further revealed the benefits of the digital currency as it is secured; transfers are made easier, less processing charges, removing the bottle necks when using banks and other financial institution as intermediary, etc. Despite these benefits, there tend to be a missing links which could affect its operations. Amongst which are lack of government support, transparency issues, subject to loss, theft and fraud, lack of central repository and investors protection clause, etc. The paper concludes that cryptocurrency as an economic innovation is disruptive the way it’s currently managed and if this vacuum is not adequately addressed, it will not survive in the future. The study further recommends that there is need to create a legal & regulatory framework guiding its operations, ensure full disclosure on its transactions, need to be centralized in nature and investors protection clause should be incorporated, etc.”
Why care about Cybersecurity? Referencing the book of National Academics of Sciences, Engineering and Medicine about “AT THE NEXUS OF CYBERSECURITY AND PUBLIC POLICY: SOME BASIC CONCEPTS AND ISSUES published on 2014; Cybersecurity has been an issue of public policy significance for a number of decades. For example, in 1991 the National Research Council wrote in Computers at Risk: We are at risk. Increasingly, America depends on computers. They control power delivery, communications, aviation, and financial services. They are used to store vital information, from medical records to business plans to criminal records. Although we trust them, they are vulnerable—to the effects of poor design and insufficient quality control, to accident, and perhaps most alarmingly, to deliberate attack. The modern thief can steal more with a computer than with a gun. Tomorrow’s terrorist may be able to do more damage with a keyboard than with a bomb. (p. 7) The continuous evolution of information technology gives rise to the digital format of the fiat currencies that we have, of which some amounts we carry and place them in our wallets or withdraw thru banks either via a teller or automated teller machine. These digital currencies are used in on-line internet transactions, and, other e-commerce activities. Furthermore, e-commerce lead to boundaryless world where business transactions and payments can be made anytime and anywhere. However, the value of respective currencies poses a challenge in the transactions. Thus, the rise of Cryptocurrency has emerged. The need for a “flattening the world” approach in the boundary less electronic commerce has made many to consider the use of cryptocurrencies in their business transactions worldwide. However, is it safe and stable?
Jerzy Kisielnicki, Jan Zadrożny, Sebastian Fabisiak
Purpose: This article aims to present the results of qualitative research on the analysis of the relationship between artificial intelligence (AI) and organizational entrepreneurship. The purpose of this research is to determine, in terms of qualitative analysis, what kind of relationships are taking place. AI is part of a new trend in the development of digital technology, defined by the acronym DARQ. Its elements are the following digital systems: Distributed Ledger, Artificial Intelligence, Extended Reality, Quantum Computing. Methodology: The research procedure consists of the following stages: a literature analysis, qualitative research in the focus group, evaluation by experts, and the presentation of results, conducting three case analyses from various industries during the activity, which present the extent to which AI affects organizational entrepreneurship. Results: The research showed user support for the use of AI technology, especially in the implementation of procedures that support organizational entrepreneurship. The AI applied in the organization enables us to obtain effects on such elements of organizational entrepreneurship as creating new strategic solutions, evaluating these proposals, and monitoring the approach of the organization’s management through the use of tools such as a management cockpit and simulation models. The use of artificial intelligence in a modern organization is necessary to improve multifaceted and interdisciplinary processes that support organizational entrepreneurship. The use of AI shows the usefulness of digital technology in operational and strategic management. Limitations: Due to the lack of empirical, especially quantitative, materials concerning the application of all levels of categorization of the use of artificial intelligence in the discussed cases, supplementary research is required to provide a more comprehensive analysis of its applications. Originality/value: The thesis was justified that IT systems containing AI technology solutions are helpful in the implementation of procedures supporting organizational entrepreneurship. The thesis is complemented by a study consisting of examining the truthfulness of the statement that the consequence of using AI is to obtain in an organization the effects of both generating proposals for new development solutions and verifying the feasibility of the implementation of the procedures proposed by the organization management. The conducted research focuses on the assessment of the relationship between advanced information technologies and organizational entrepreneurship.
Radosław Miśkiewicz, Krzysztof Matan, Jakub Karnowski
The rapid growth of information technology and industrial revolutions provoked digital transformation of all sectors, from the government to households. Moreover, digital transformations led to the development of cryptocurrency. However, crypto trading provokes a dilemma loop. On the one hand, crypto trading led to economic development, which allowed attracting additional resources to extending smart and green technologies for de-carbonising the economic growth. On the other hand, crypto trading led to intensifying energy sources, which provoked an increase in greenhouse gas emissions and environmental degradation. The paper aims to analyse the connections between crypto trading, economic development of the country, renewable energy consumption, and environmental degradation. The data for analysis were obtained from: Our World in Data, World Data Bank, Eurostat, Ukrstat, Crystal Blockchain, and KOF Globalisation Index. To check the hypothesis, the paper applied the Pedroni and Kao panel cointegration tests, FMOLS and DOLS panel cointegration models, and Vector Error Correction Models. The findings concluded that the increasing crypto trading led to enhanced GDP, real gross fixed capital formation, and globalisation. However, in the long run, the relationship between crypto trading and the share of renewable energies in total energy consumption was not confirmed by the empirical results. For further directions, it is necessary to analyse the impact of crypto trading on land and water pollution.
The paper investigates the empirical verification of the efficacy of investment diversification using the main stock exchange indices in the Eurozone countries and Bitcoin. The paper also investigates whether and to what extent it is desirable for institutional investors, in addition to traditional financial instruments, to invest in Bitcoin. The aim of the research is to examine whether it is justified and to what extent to include Bitcoin in the portfolio of an institutional investor. Through this research, an attempt is made to find an answer to the research question: “What share of Bitcoin in the portfolio structure is justified, taking into account the ratio of return and risk”? The analysis includes data on the daily movement of selected action indices as well as the movement of Bitcoin. The methodology involves the analysis of high-frequency data, given that daily trading data were used. The results show that it is justified to include Bitcoin in the portfolio structure. Also, the results show which share of Bitcoin in the portfolio is justified from the aspect of institutional investors. The data used in the analysis cover the period from 2019 and 2020. Two portfolios have been created, one without Bitcoin and the other with Bitcoin. The goal in optimization for both portfolios is to minimize risk. The observed period of the analysis is characterized by the crisis caused by the coronary virus pandemic and the period of active bitcoin trading. The results of the research show that Bitcoin is a good source of diversification in a portfolio that contains traditional financial instruments, both for an investor who is not prone to risk, and for those investors who have a greater appetite for risk. The conclusion is that the rational behavior of institutional investors requires consideration of investing in Bitcoin using the Markowitz model. However, given the high degree of volatility, investors should be careful when making decisions about including Bitcoin in their investment portfolio. Bitcoin is an extremely volatile instrument. Given that it is a speculative and highly volatile financial instrument, investors have different views on Bitcoin. First in terms of defining this cryptocurrency and then in terms of including this instrument in the investment portfolio. By including Bitcoin in the investment portfolio, the goal of diversification has been achieved. This is to reduce the risk of the institutional investor to a minimum. In practice, this means that it is possible to create a portfolio that carries an acceptable level of risk with the desired level of return. Given that Bitcoin is an extremely volatile and consequently - risky instrument, the expected return is also - high. The results of the research show that the cryptocurrency Bitcoin can serve as a desirable instrument for diversification of the investment portfolio when looking at a portfolio that includes stock indices. The results suggest that it is desirable to include in the structure of the portfolio a certain share of Bitcoin, about 6%.
The article considers the main factors that have a positive effect on the quantity demanded for cryptocurrency, and information is the primary one. The authors separately consider the use of Bitcoin throughout 2020 as the leading cryptocurrency on the market. The position of the direct dependence of the value of other cryptocurrencies on the behavior of Bitcoin is given. The study shows that in the modern world, cryptocurrency is not only an investment tool but also a payment instrument which gathers momentum. This is evidenced by the annual expansion of the use of cryptocurrency in the market for goods, works and services. Despite the increasing demand for cryptocurrencies, the problem of infrastructure formation remains open. In modern times, cryptocurrency exchanges appear to be a key element of the infrastructure of the cryptocurrency market, their functioning cannot be stabilized in individual states, which leads to the formation of a shadow cryptocurrency market. A significant aspect of the functioning of cryptocurrencies is the difference in the key factors affecting the cryptocurrency market and the securities market. For the first market such a factor is information, for the second – financial position of the issuer of the securities. It shows investors the difference between these segments of the financial market. In the future, with the participation of all elements of the cryptocurrency market, it is possible to form a balanced system that will function steadily under the influence of external factors.
The proliferation of cryptocurrency transactions and the increase in their value raises the question of the need for a final solution to the problem of legal regulation of their circulation. The urgency of this task is exacerbated by the fact that leaving cryptoassets out of the legal field promotes their use in illegal activities and deprives the state of significant revenues from their proper taxation. The purpose of this article is to study the approaches to the legal regulation of the circulation of cryptoassets, which are recently formed in the world, to determine the positive experience and opportunities to borrow successful legislative decisions. The article analyzes approaches to the regulation of relations arising from cryptocurrencies in the United States, Canada, Great Britain, Germany, Austria, Estonia, China, Singapore and Australia. Particular attention is paid to the analysis of the European unified approach to the regulation of cryptocurrencies for all European countries, as well as cryptocurrency services. According to the results of the study, it is concluded that today the attitude to cryptocurrencies differs depending on the level of development of the country. However, recently there has been a tendency to focus efforts on the implementation of cryptoassets in the legal field and ensure legal regulation of their circulation. In general, 2020, the year of the pandemic and the transfer of life to the online format, was marked by special attention to the development of legal regulation of cryptocurrency circulation. Of particular concern to the authorities are features of cryptocurrencies such as decentralization and anonymity, which allow these assets to be used to launder criminal proceeds and finance terrorism. It is in this direction that government regulation of cryptocurrency circulation has been moving recently. Most countries in the world of cryptocurrency regulation focus on licensing cryptocurrency exchanges, identifying their users, taxing, and countering money laundering and terrorist financing. These principles are the basis of the unified approach to the regulation of cryptocurrency activities for all European countries proposed by the European Commission. It is noteworthy that both in the European unified approach to the regulation of cryptoassets and in their legal regulation in some European countries and the United States, it is proposed to classify cryptocurrencies and divide them into several categories depending on the functions they perform. These approaches to the classification of cryptoassets should be considered when determining the legal framework for regulating the circulation of cryptoassets (virtual assets) in Ukraine.
The importance of the study of the united territorial communities functioning and the identification of the main problems of organizational support of local budget management are substantiated. It has been studied that the issues related to the development of organizational support of local budget management are insufficiently researched in the domestic scientific literature. The paper clarifies that the decentralization of government should ensure the democratization of society, combine administrative, political, fiscal decentralization and involves the transformation of the interaction between governmental agencies and citizens, NGOs and businesses. The regulatory framework for the reform process is provided. Problems of united territorial communities development are identified. One of the first of them is the problem of proper implementation of the territorial community functions, which is intertwined with the filling of the UTC budget, the formation of financial resources sufficient to adequately finance the urgent social needs of communities based on the principle of subsidiarity, implementation of their economic and technological development. Conditions for the formation of able-bodied territorial communities are provided. The own and delegated powers of the united territorial communities in Ukraine are studied. The factors and subjects of ensuring the financial capacity of territorial communities are singled out and generalized. As a result, the well-established interaction of the subjects of financial relations under the influence of both external and internal factors will help meet the legitimate needs and interests of local communities. The basic legislative bases of the mechanism of voluntary association of territorial communities are generalized. It is determined that the current state of local budgets does not seem to be the best, which hinders the complex tasks assigned to local authorities: scarcity of their own sources of income, almost complete dependence on the state budget, lack of transparency of budgetary relations in providing financial assistance from the center, additional assistance revenues and economic expenditure of budget funds. According to the analysis conducted by the authors, a set of problems of organizational support of local budgets is proposed.
Banking & financial sector in India is reshaping rigourously as the technological disruptions are spreading<br> through Fintech, RegTech, SupTech, Robo-advice & so on. Adoption of Machine learning, Artificial<br> Intelligence, Distributed Ledger Technologies are bringing paradigm shift in banking sector. RegTech is a<br> technology to be used for regulatory functions by financial authority say RBI whereas SupTech represents<br> technology for supporting regulatory supervision functions. Robo-advice is machine-based programme that<br> helps corporates to predict risk of project in advance & design pro-active & protective measures
Barbara Balon, Krzysztof Kalinowski, Iwona Paprocka
Today, enterprises are multitasking, with branches set up all over the world. Virtual enterprises are created to make better use of existing resources, improve the quality of manufactured products and agilely respond to customer requirements. In order to fully meet the requirements of enterprises, a decentralized structure of data registration and transmission and authentication of network users is needed. The information collected via the Internet of Things and flowing based on the properties of the Blockchain (BC) network facilitates enterprise resource planning and enables the integration of internal processes, especially when planning, changing the current or introducing new production. The aim of this paper is to present the concept of using a common data register in BC technology, which enables a number of applications related to the automation of the process of selecting human resources for production tasks. The paper presents an analysis of the problem related to the integration of production scheduling and human resource management with blockchain technology. Also presented is a literature analysis on scheduling, blockchain technology and data storage in the blockchain network. The analysis presents how the blockchain network works and how exactly it fits into production engineering with its advantages and disadvantages. An employee evaluation method based on the resource work history and determination of its current value within individual competencies is presented. The integration of production scheduling and human resource management with the use of BC technology is simulated. The most important advantage is faster and more effective planning thanks to the elimination of all intermediary channels in the flow of production transactions. Production tasks are balanced with production capacity in entities belonging to the virtual enterprise in parallel. For future research, different online planning algorithms will be developed and compared to achieve consortium members' consensus on production and human resources planning.
The article deals with the peculiarities of the project management application in public administration of Ukrainian institutions. Changes in the financial management of Ukraine, reforms in the administrative, security, educational, medical, cultural, law enforcement sectors have led to the developments in the system of public administration. Decentralization reform has been a particularly important stimulus. Ukraine has developed and applied a regulatory framework for the development of strategies, programs, projects, with defined methods of calculation and investment support. As in the business environment, the project management in public administration uses the connection of projects, programs with the strategy of the state, communities and industries. The forms and directions of the project approach application have been expanded both at the state and local levels, which contributes to the change of management from the process approach to achieving results of public importance, strengthening the funds efficiency, and public involvement in control over public expenditures. Projects in public administration in Ukraine are used in the following forms: public investment projects, projects financed by ministries and departments (internal and distributed externally on the basis of competitions); public-private partnership projects; projects submitted for financing by international organizations, banks; participative public budgets. The base for financing projects has expanded with extensive use of international finance. Project management also affects the organizational structure of institutions. In Ukraine, project departments / offices have appeared in local governments, institutions, and ministries, which helps to expand the application of the project approach. The Cabinet of Ministers of Ukraine has an Office of Reforms of the Cabinet of Ministers of Ukraine to assist in the development and implementation of reforms in the country. The article identifies weaknesses in the application of project management, in particular the need to improve the training of public administration in the organization of teamwork, improve monitoring and project control, risk assessment; improving communication between state, local authorities and the public.
The development of blockchain and distributed ledger technology (DLT) technologies stimulates diametrically opposite points of view about the prospects of traditional institutions in the digital economy: from their complete disappearance to a cardinal transformation. This matter also applies to the field of accounting and auditing. The purpose of the study is not only to identify trends in the transformation of the audit methodology but also in an accountant/auditor profession itself by using blockchain and DLT. The conduct of this research is based on the use of the following methods: analysis and synthesis, comparison, systemic and logical approach, analogies and grouping. The paper contains an overview of the implementation practice of blockchain technology by the Big Four audit companies, as well as the composition of the main developers and the software products they offer based on the blockchain technology and DLT used in audit activities. There have been identified the key trends in the development of an accountant/auditor professions in connection with the use of blockchain technology and DLT. The conclusion is made about the need for a significant transformation of the audit methodology, as well as the profession of an accountant/auditor in connection with the use of blockchain and DLT, but it is not about replacing the audit institution with these technologies. The authors have formulated proposals and defined the most significant innovations of the classical methodology for conducting an audit of the business processes effectiveness based on the use of blockchain technology and DLT.
The article examines the nature and main types of fraud based on the classification of the Association of Certified Fraud Experts (ACFE), which proposes the division of fraud into three groups: corruption, fraud in financial reporting and misappropriation of assets. The purpose of the article is to conduct a comparative analysis of economic losses from fraud and provide suggestions for reducing them through the use of blockchain technology. The research methodology is based on the use of Report to the Nation data and the results of other surveys presented on the ACFE website for a comparative analysis of types of economic fraud by volume, period, territorial affiliation and counteraction. Based on a report for the nation prepared by ACFE, it was found that the company's largest monthly losses are caused by fraud with financial statements, which lasts an average of 18 months. The frequency of cases of different types of fraud depending on the industry was analyzed and it was found that the most common companies in each industry are corrupt. The 8 most risky departments with different types of fraud were identified, and it was found that corruption is also the most common in each department. The most common schemes of professional fraud by region were studied, which showed that the most common schemes of professional fraud in all countries are corruption, with the highest level in South Asia. It has been established that tip, internal audit and management review are used to detect company fraud in all regions. A study of the most common means of control against fraud showed that the most effective of them are the External Audit of Financial Statements and the Code of Conduct. It has been established that in most countries of the region the Code of Conduct and the External Audit of Financial Statements are used as anti-fraud tools. It should be noted that a large number of companies use proactive monitoring / analysis of data, of which blockchain technology is an integral part. The main stages of creation and use of blockchain technologies for the financial operations of the company are offered, which will allow more effective control over the fight against fraud.
The article examines the trends of rapid development of blockchain technology. Approaches to interpretation of the concept of "blockchain" in the works of domestic and foreign scientists are revealed. The principles which the development of blockchain technology is based on are determined. Examples of use of blockchain technology applications with class grouping are studied. Examples of application of blockchain technology in such areas as finance, international trade, smart cities, banking are given. The current state of development, opportunities for implementation and features of legal regulation of blockchain technology in Ukraine are described. The advantages and disadvantages of blockchain technologies are highlighted. The further directions of blockchain technology development are analyzed according to such scenarios as centralized programs are replaced by decentralized ones, development of programs for financial inclusion, increase of efficiency of international digital transactions, blockchain turns into "new Internet".
The article describes the Bitcoin cryptocurrency generation system. The use of blockchain technology and encryption algorithm SHA-256 in the Bitcoin generation system is considered. The aim of the work is to research the technologies and value of cryptocurrency. The article describes the structure of Bitcoin and blockchain -the technology that underlies this cryptocurrency. An analysis of existing problems with Bitcoin and its future is presented.