Yuta Susowake, Hasan Masrur, Tetsuya Yabiku, Tomonobu Senjyu · 7 authors
In Japan, residents of apartments are generally contracted to receive low voltage electricity from electric utilities. In recent years, there has been an increasing number of high voltage batch power receiving contracts for condominiums. In this research, a high voltage batch receiving contractor introduces a demand–response in a low voltage power receiving contract, which maximizes the profit of a high voltage batch receiving contractor and minimizes the electricity charge of residents by utilizing battery storage, electric vehicles (EV), and heat pumps. A multi-objective optimization algorithm calculates a Pareto solution for the relationship between two objective trade-offs in the MATLAB ® environment.
Lewis Nkenyereye, Bayu Adhi Tama, Muhammad K. Shahzad, Yoon-Ho Choi
Basic safety message (BSM) are messages that contain core elements of a vehicle such as vehicle's size, position, speed, acceleration and others. BSM are lightweight messages that can be regularly broadcast by the vehicles to enable a variety of applications. On the other hand, event-driven message (EDM) are messages generated at the time of occurrence such as accidents or roads sliding and can contain much more heavy elements including pictures, audio or videos. Security, architecture and communication solutions for BSM use cases have been largely documented on in the literature contrary to EDM due to several concerns such as the variant size of EDM, the appropriate architecture along with latency, privacy and security. In this paper, we propose a secure and blockchain based EDM protocol for 5G enabled vehicular edge computing. To offer scalability and latency for the proposed scenario, we adopt a 5G cellular architecture due to its projected features compared to 4G tong-term evaluation (LTE) for vehicular communications. We consider edge computing to provide local processing of EDM that can improve the response time of public agencies (ambulances or rescue teams) that may intervene to the scene. We make use of lightweight multi-receiver signcryption scheme without pairing that offers low time consuming operations, security, privacy and access control. EDM records need to be kept into a distributed system which can guarantee reliability and auditability of EDM. To achieve this, we construct a private blockchain based on the edge nodes to store EDM records. The performance analysis of the proposed protocol confirms its efficiency.
Riaz Ahmad Ziar, Syed Irfan Ullah, Rafiulllah Omar
The introduction of smart devices and the IOT network has led to the creation of large amounts of data that require protection from intrusion. Most users desire to have personal data kept confidential while seeking for platforms that would prohibit their vendors from distributing it to third parties without their consent. However, the users that are conscious of data privacy often share information with third parties, contradicting their intentions in keeping their information confidential. The difference between user intentions and actions regarding data privacy is called privacy paradox while privacy fatigue refers to the weariness of people on implementing security and privacy solutions. In this proposed system we design and develop smart contracts to provide interaction for the IoT device and company which require personal data. A company or Application requests personal information from the device to share the device sends, that information to the smart contract, smart contract uses dynamic rules to check PII in the users' personal information. Base on the PII(,) system would alert users on the limit and risk of sharing personal information through a public network. We used solidity programing language for the modeled of the smart contract. The performance of the contract is evaluated on the Repsten test network.
The pool-hopping attack casts down the expected profits of both the mining pool and honest miners in Blockchain. The mainstream countermeasures, namely PPS (pay-per-share) and PPLNS (pay-per-last-N-share), can hedge pool hopping, but pose a risk to the pool as well as the cost to miners. In this study, we apply the zero-determinant (ZD) theory to design a novel pooled mining which offers an incentive mechanism for motivating non-memorial and memorial evolutionary miners not to switch in pools strategically. In short, our hopping-proof pooled mining has three unique features: 1) fee-free. No fee is charged if the miner does not hop. 2) wide applicability. It can be employed in both prepaid and postpaid mechanisms. 3) fairness. Even the pool can dominate the game with any miner, he has to cooperate when the miner does not hop among pools. The fairness of our scheme makes it have long-term sustainability. To the best of our knowledge, we are the first to propose a hopping-proof pooled mining with the above three natures simultaneously. Both theoretical and experimental analyses demonstrate the effectiveness of our scheme.
Blockchain-based product traceability systems are receiving increasing attention from both industry and academia. Existing systems make full use of the traceability and non-modification characteristics of blockchain technology and realize the openness and transparency of product traceability information in the entire supply chain. However, existing systems do not consider government regulation, cannot protect enterprise sensitive private data effectively, and have performance bottlenecks. To address these problems, this paper proposes a product traceability scheme based on the permissioned blockchain within a double-layer framework. We introduce the double-layer framework and describe its advantages in detail. We also describe the smart contracts (chain code) in the double-layer framework. Finally, we test the performance of the proposed scheme through simulation experiments. The simulation results demonstrate the performance of nodes in the main layer, which is very important for consumers to obtain product traceability information, is optimized.
With Industry 4.0, IT infrastructure has started to be used more effectively in the manufacturing sector. Cyber physical systems, IoT, cloud manufacturing, big data are some of the technologies that make up the concept of Industry 4.0. These technologies have solved many problems in the manufacturing sector. One of these technologies, cloud manufacturing technology, has emerged with the idea of pay as you go. This technology has enabled manufacturing resources to be leased and shared on a global scale. However, it has problems arising from its central structure and the need for a reliable 3rd party. Reliability, security, continuity, scalability, data lock-in, single point failure, data manipulation are some of the main problems. Blockchain (BC) is a decentralized and distributed technology. The data stored on the BC network cannot be altered in any way. With these features, we believe that BC-supported cloud manufacturing systems can overcome the aforementioned problems and eliminates the need for a reliable 3rd party. Based on this belief, in this study the agreements and communication between the resource provider and the customer, which is one of the basic functions of cloud manufacturing platforms, are realized with a decentralized application using BC-based smart contracts (SCs). The designed application is called the decentralized cloud manufacturing application (DCMApp). DCMApp does not operate on a fully public BC network, it has a hybrid structure and uses the Ethereum network as a public BC network. These features make DCMApp different from other BC-based cloud manufacturing applications. DCMApp's hybrid structure has enabled more transparent, economic and safe manufacturing agreements. It is also possible to store agreements on the BC network at a low cost without installing any server infrastructure. The use of Ethereum network makes it almost impossible to manipulate agreements.
In this article, we study the pricing and resource management in the Internet of Things (IoT) system with blockchain-as-a-service (BaaS) and mobile-edge computing (MEC). The BaaS model includes the cloud-based server to perform blockchain tasks and the set of peers to collect data from local IoT devices. The MEC model consists of the set of terrestrial and aerial base stations (BSs), i.e., unmanned aerial vehicles (UAVs), to forward the tasks of peers to the BaaS server. Each BS is also equipped with an MEC server to run some blockchain tasks. As the BSs can be privately owned or controlled by different operators, there is no information exchange among them. We show that the resource management and pricing in the BaaS-MEC system are modeled as a stochastic Stackelberg game with multiple leaders and incomplete information about actions of leaders/BSs and followers/peers. We formulate a novel hierarchical reinforcement learning (RL) algorithm for the decision makings of BSs and peers. We also develop an unsupervised hierarchical deep learning (HDL) algorithm that combines deep $Q$ -learning (DQL) for BSs with the Bayesian deep learning (BDL) for peers. We prove that the proposed algorithms converge to stable states in which the peers' actions are the best responses to optimal actions of BSs.
The article considers the main aspects and problems of transforming an educational network in the current context of decentralization. Reference is made tothe urgent need of restructuring the responsibilities in education management between the center and regions providing the latter with independence in finances, organization and management at the regional level. It is emphasized that extending powers of the local executional bodies in management of educational institutions is the primary purpose of decentralization process. There was examined a pattern of decentralizing the basic education in Poland, according to which it was recommended to oblige the local self-government bodies to implement the education politics according to the local needs, finding the school administration and continually appraise the quality of education. It has been observed that currently the essential functions of state in education are assigned to the regional state administrations, regional and local educational departments. The local authorities are burdened with responsibilities of financing and providing the social security for children, defining the network of training institutions, maintaining their records and performing control over their activities. The author points out that at present the local and regional authorities duplicate the functions of the Ministry of Education and Science of Ukraine, which is non-effective. The author believes that the local government officials are able to perform political management well up to the officials of educational departments and administrations. However, prior to assignment of new obligations, it is necessary to develop and implement an effective retraining program for personnel and staff of the municipal structures. There have been reviewed the results of the pilot project: «Decentralization: education reforms at the local level», which experts had been analyzed the consistency of educational network. It pointed to the major areas of concern for the education reforms in local communities, namely a significant expense side of budget for education financing, low level of education in rural students according to the data obtained from the independent external assessment, and lack of subject oriented teachers. The author makes a conclusion that the purpose of decentralization in education should be an overall improvement of educational services and be based upon the following basic principles: students’ right to have a free choice of educational institution, equal access to good-quality education services, decent conditions to develop their abilities, improving the quality and efficiency of the educational process, effective use of types of resources.
Shuchih Ernest Chang, Hueimin Louis Luo, YiChian Chen
This paper explores a potential paradigm shift in trade finance utilizing blockchain technology. Traditionally, the centralized operating model has governed trade finance and the manner in which traders handle business processes. However, such heavy reliance on centralized authorities has made for poor performance, the lack of flexibility and transparency, and vulnerability to malicious alteration. The blockchain, as a distributed ledger technology (DLT), has attracted growing attention and has the potential to disrupt legacy finance procedures such as payment by letter of credit (L/C). International trade players may benefit from the technological reengineering of financial processes through the implementation of blockchain- and smart contract-based platforms. From the conceptual perspective of a paradigm shift, this study analyzes the feasibility of blockchain innovation in trade finance through modern blockchain-based L/C initiatives. Moreover, this study also explores blockchain applications in terms of logistics tracking and how it integrates with trade finance procedures. This study contributes to the understanding of a blockchain paradigm shift with a multi-case study. The results may illuminate the potential future application of blockchain finance and provide researchers with an illustrative example of other finance-related capabilities. Studies of trade-related topics such as customs clearances, insurance, and logistics applications need to be addressed in the future to create a comprehensively trustless environment and facilitate the automation of trade.
Blaž Podgorelec, Muhamed Turkanović, Sašo Karakatič
The basis of blockchain-related data, stored in distributed ledgers, are digitally signed transactions. Data can be stored on the blockchain ledger only after a digital signing process is performed by a user with a blockchain-based digital identity. However, this process is time-consuming and not user-friendly, which is one of the reasons blockchain technology is not fully accepted. In this paper, we propose a machine learning-based method, which introduces automated signing of blockchain transactions, while including also a personalized identification of anomalous transactions. In order to evaluate the proposed method, an experiment and analysis were performed on data from the Ethereum public main network. The analysis shows promising results and paves the road for a possible future integration of such a method in dedicated digital signing software for blockchain transactions.
In this study, we attempted to develop and implement a blockchain Corda-based record sharing system for traditional agricultural (agri-) researchers, workers, and their managers. Corda differs from other domain and practical blockchain techniques (e.g., Bitcoin, Ethereum) with respect to its main aims and structural features. Corda-based network systems can transmit and share basic data concerning ledgers at banks or other financial societies and can be handled on common web browsers (e.g., Google Chrome or Microsoft Internet Explorer). This study consists of three phases: (1) designing and confirming the validity of the entire system, (2) constructing and tuning various minor system settings (e.g., programs or networking specifications), and (3) conducting experiments in indoor settings using hoe acceleration data obtained from previous research projects. The integrated system performed with an acceptable level of accuracy. However, it was extremely difficult to quantitatively present the accuracy data. We were unable to concretely show the success and error rates for the data transmitting and receiving, nor the examination operation time. We thus present the specific error content. Overall, the main error trends were (1) errors concerning the rather small transaction time-delay, (2) mistakes concerning the transaction data in the system, and (3) broken transaction data in the system. In particular, we could determine the transaction time delay according to the JavaScript operations and features by observing. We present experimental ranges for these time delays and other error types. Noting concerns concerning previous trials, we suggest practical applications of the proposed system. In short, we believe that our results are novel achievements in the fusion of agricultural informatics, statistics, and human dynamics. We believe that combining this data and other kinds of timeline data with blockchain-based technology and multiple sensors will improve not only agri-business and management, but also agri-skill and security.
Turki Ali Alghamdi, Ishtiaq Ali, Nadeem Javaid, Muhammad Shafiq
The Internet of Things (IoT) industry is growing very fast to transform factories, homes, farms and practically everything else to make them efficient and intelligent. IoT is applied in different resilient scenarios and applications. IoT faces lots of challenges due to lack of computational power, battery and storage resources. Fortunately, the rise of blockchain technology facilitates IoT in many security solutions. Using blockchain, communication between IoT and emerging computing technologies is made efficient. In this work, we propose a secure service provisioning scheme with a fair payment system for Lightweight Clients (LCs) based on blockchain. Furthermore, an incentive mechanism based on reputation is proposed. We use consortium blockchain with the Proof of Authority (PoA) consensus mechanism. Furthermore, we use Smart Contracts (SCs) to validate the services provided by the Service Providers (SPs) to the LCs, transfer cryptocurrency to the SPs and maintain the reputation of the SPs. Moreover, the Keccak256 hashing algorithm is used for converting the data of arbitrary size to the hash of fixed size. AES128 encryption technique is used to encrypt service codes before sending to the LCs. The simulation results show that the LCs receive validated services from the SPs at an affordable cost. The results also depict that the participation rate of SPs is increased because of the incentive mechanism.
The stages of formation and theoretical background of cryptocurrency have been explored in the article. It has been established that the focus of the operation and use of such a specific financial asset is the protection of cash against the depreciation that occurs during political and economic fluctuations. But this is another kind of modern money, namely, stalk line. The main processes that have taken place in the IT field, which has influenced the further development of the monetary system worldwide have been reflected in the article. There is no unified system in the EU for cryptocurrency transactions. The technologies used to create any kind of cryptocurrency have been researched by the scientists of the advanced countries in the last century. Nowadays, modern blockchain technology is an improvement of the past. Each country has its own peculiarities and approaches to the recognition or non-recognition of cryptocurrency. The problem with the use of modern money is to determine the issuer. Cryptocurrency and electronic money have some things in common and distinctive. It has been determined that the use of cryptocurrency for the purposes of storing savings and payments is gaining popularity despite the problems of economic, tax and legal regulation. The market capitalization of bitcoin is compared with the leading economies of the world. Bitcoin capitalization is found to be higher than some countries' GDP. The basic aspects of cryptocurrency functioning are revealed. The main method of scientific research is the empirical method, which allowed to make several observations on the changing attitude of countries to cryptocurrency. The measurement process made it possible to understand the volume of the bitcoin market. As a result of scientific literature, cryptocurrency as electronic money is found to be a non-personalized payment instrument and is rotated outside the banking system electronically, which is why it implies that the state cannot control this process, which is why national banks of many countries with distrust treat that kind of money. The countries of the world, at their discretion, make changes in tax and legal law.
The article analyzes the main reasons for the slow adoption of blockchain technology, in particular, in the financial sector. The authors critically analyzed the main declared properties of blockchain technologies: trust, security, decentralization, immutable data storage, lack of intermediaries, hardware protection against attacks, and openness. The aim of the study are to show that these blockchain properties are overestimated, the expectations of its adoption are inflated, and the delays in its adaptation outside of cryptocurrencies, in particular, in the financial sector, are natural. The article is based on a methodology for the qualitative and quantitative analysis of scientific publications and statistical sources on the blockchain adaptation from the perspective of the theory of diffusion of innovations, the conditions and the specifics of economic and sociological approaches for consensus-building. The study resulted in the following new systemic findings. Blockchain and distributed ledgers are not fundamentally new technologies. In general, they do not have the properties of the immutable data storage, trust, anonymity, low transaction and adoption costs. All current consensus technologies have fundamental faults. Cryptocurrency technology is original, but it was a private experimental solution to a specific ideological problem of the libertarian political agenda. Consensus does not provide trust. Delayed blockchain adoption, in particular in traditional financial institutions, is natural, since the technology does not show better results than current digital solutions, and traditional economic institutions have greater public trust. The practical implications of the findings are that they may be used by investors.
Grant Chung, Luc Desrosiers, Manav Gupta, Andrew Sutton · 7 authors
Blockchain scalability can be complicated and costly. As enterprises begin to adopt blockchain technology to solve business problems, there are valid concerns if blockchain applications can support the transactional demands of production systems. In fact, the multiple distributed components and protocols that underlie blockchain applications makes performance optimization a non-trivial task. Blockchain performance optimization and scalability require a methodology to reduce complexity and cost. Furthermore, existing performance results often lack the requirements, load, and infrastructure of a production application. In this paper, we first develop a methodical approach to performance tuning enterprise blockchain applications to increase performance and transaction capacity. The methodology is applied to an enterprise blockchain-based application (leveraging Hyperledger Fabric) for performance tuning and optimization with the goal of bridging the gap between laboratory and production deployed system performance. We then present extensive results and analysis of our performance testing for on-premise and cloud deployments, in which we were able to scale the application from 30 to 3000 TPS without forking the Hyperledger Fabric source code and maintaining a reasonable infrastructure footprint. We also provide blockchain application and platform recommendations for performance improvement.
The article examines the problem of the ICO (Initial Coin Offering, from English — “initial offer of coins, initial placement of coins”). The information source is the ICO rating data of the return on investment in blockchain startups. The methodological base of the research is a situational comparative analysis of the ICO, DAOICO, IEO and STO and systematization of information. The author analyzes three new ICO models. The first one includes elements of Decentralized Autonomous Organizations (DAO). Its aim is to minimize the difficulties and risks associated with the ICO. The second model (Initial Exchange Offering (IEO), from English — “primary exchange offer”) is designed to minimize risks, liquidity problems and a delay in listing tokens at the end of the token sale. The third model — the Security Token Offering (STO, from English — “offer of security token”) — was designed to support real assets and comply with the SEC requirements. These models are a new direction for small and medium enterprises and investors. The absence of any scientific work emphasizes the relevance and scientific novelty of the study. The article is a follow-up of the empirical work related to the success of the ICO, as well as the basis for its revision using the case study results.
Elena Sinelnikova-Muryleva, Kirill Shilov, Andrey Zubarev
The aim of the article is to systematize the views on the concept of cryptocurrency from the literature and among international and national organizations and regulators, to analyze its economic essence and the place in the modern monetary and financial system. The definition and the functions of cryptocurrency are discussed in the framework of descriptive and theoretical analysis. The paper systematized the existing approaches to the concept analysis of cryptocurrency; the place of cryptocurrency in modern economic theory is shown.The article concludes that cryptocurrencies are often determined through the set of basic characteristics. Cryptocurrencies are not money, though they can perform the main function of money — to be a means of payment; they can be a means of making settlements, assets, platforms for concluding smart contracts, a means for crowdfunding. They are not private money in Hayek’s interpretation. Cryptocurrencies can be described in the framework of the models of new monetarism (payment economics).
Next to climate change on the list of challenges faced by humankind in today’s technological age is energy management. While “smart” ideas continue to gather momentum as some of the ways earmarked to combat the menace of a changing climate, coupled with efficient management of energy, research and development in the blockchain is not retracting, recently giving rise to digital currencies capable of fueling massive energy consumption via mining of “crypto-coins”. Given that sustainability is a crucial goal in the design of smart cities nowadays, there are currently no assurances of sustainable cities where cryptocurrency mining is at full scale. Nevertheless, alternative energy sources may come to the rescue in no distant time. In this paper, we contextualize energy-use in smart cities through mining of virtual currencies, in order to predict whether or not smart cities can truly be sustainable if crypto-mining is sustained. An attempt is also made to emphasize the possible ways of reducing energy use and all activities involving digital currencies by seeking to replace “Proof of Work” (PoW) with improved alternatives.
Reilly White, Yorgos Marinakis, Nazrul Islam, Steven T. Walsh
Cryptocurrencies such as Bitcoin have fascinated technologists and investors alike. They have become prevalent, with over 2,000 Bitcoin-like cryptocurrencies now in use. Most jurisdictions have not regulated cryptocurrencies. Whether existing regulations apply to cryptocurrency turns ultimately on if we classify cryptocurrencies as currencies, securities, or derivatives, or a money services (transfer) vehicle. In this set of exploratory analyses we seek to classify Bitcoin. We utilize a variety of methods to compare aspects of its behavior to: currencies, asset classes such as derivatives, technology-based products and possible technology-based products such as Ether and the security SPY, and speculative financial bubbles. We find that Bitcoin's behavior more closely resembles a technology-based product, an emerging asset class, or a bubble event, rather than a currency or a security; such that it is correct that existing currency and security laws should not apply to cryptocurrencies.
Muhammad Anas Imtiaz, David Starobinski, Ari Trachtenberg
Orphan transactions are those whose parental income-sources are missing at the time that they are processed. These transactions are not propagated to other nodes until all of their missing parents are received, and they thus end up languishing in a local buffer until evicted or their parents are found. Although there has been little work in the literature on characterizing the nature and impact of such orphans, it is intuitive that they may affect throughput on the Bitcoin network. This work thus seeks to methodically research such effects through a measurement campaign of orphan transactions on live Bitcoin nodes. Our data show that, surprisingly, orphan transactions tend to have fewer parents on average than non-orphan transactions. Moreover, the salient features of their missing parents are a lower fee and larger size than their non-orphan counterparts, resulting in a lower transaction fee per byte. Finally, we note that the network overhead incurred by these orphan transactions can be significant, exceeding 17% when using the default orphan memory pool size (100 transactions). However, this overhead can be made negligible, without significant computational or memory demands, if the pool size is merely increased to 1000 transactions.
Ahmet Kurt, Enes Erdin, Mumin Cebe, Kemal Akkaya · 5 authors
While various covert botnets were proposed in the past, they still lack complete anonymization for their servers/botmasters or suffer from slow communication between the botmaster and the bots. In this paper, we propose a new generation hybrid botnet that covertly and efficiently communicates over Bitcoin Lightning Network (LN), called LNBot. LN is a payment channel network operating on top of Bitcoin network for faster Bitcoin transactions with negligible fees. Exploiting various anonymity features of LN, we designed a scalable two-layer botnet which completely anonymize the identity of the botmaster. In the first layer, the botmaster sends commands anonymously to the C&C servers through LN transactions. Specifically, LNBot allows botmaster's commands to be sent in the form of surreptitious multihop LN payments, where the commands are encoded with ASCII or Huffman encoding to provide covert communications. In the second layer, C&C servers further relay those commands to the bots they control in their mini-botnets to launch any type of attacks to victim machines. We implemented a proof-of-concept on the actual LN and extensively analyzed the delay and cost performance of LNBot. Our analysis show that LNBot achieves better scalibility compared to the other similar blockchain botnets with negligible costs. Finally, we also provide and discuss a list of potential countermeasures to detect LNBot activities and minimize its impacts.
Regio A. Michelin, Nadeem Ahmed, Salil S. Kanhere, Aruna Seneviratne · 5 authors
The video footage produced by the surveillance cameras is an important evidence to support criminal investigations. Video evidence can be sourced from public (trusted) as well as private (untrusted) surveillance systems. This raises the issue of establishing integrity and auditability for information provided by the untrusted video sources. In this paper, we focus on a airport ecosystem, where multiple entities with varying levels of trust are involved in producing and exchanging video surveillance information. We present a framework to ensure the data integrity of the stored videos, allowing authorities to validate whether video footage has not been tampered. Our proposal uses a lightweight blockchain technology to store the video metadata as blockchain transactions to support the validation of video integrity. The proposed framework also ensures video auditability and non-repudiation. Our evaluations show that the overhead introduced by employing the blockchain to create and query the transactions introduces a very minor latency of a few milliseconds.
Introduction. The article is devoted to the actual problem of cryptocurrency functioning in the world market and its place in financial and economic systems. The emergence of virtual money (cryptocurrency) is driven by the constant development of technology and the economy. Currently, non-cash payments are more common. Cryptocurrency is becoming an innovative form of payment in the information society. Unlike traditional types of money, it can be a means of payment in electronic payment systems with a high level of protection against cybercrime. Every day, cryptocurrency is strengthening its role not only as a way of saving, but also as a means of payment in electronic payment systems. \nPurpose. The main purpose of the study is to determine the place and role of cryptocurrency in financial and economic systems. \nResults. The experience of implementing and using cryptocurrencies and models of their regulation have been investigated, on the example of European countries. It has been found that the functioning of cryptocurrencies is a new challenge for government regulators of financial services markets. The cryptocurrencies most popular by their capitalization are compared. The strengths and weaknesses of virtual money, and the threats and prospects of their use in the financial and economic world market are identified. Further perspectives on the use of cryptocurrency at the country level and the ways to improve its position in the world economic system were substantiated. \nConclusions. Analysed data in this article makes it possible to determine what a cryptocurrency is and its role in the financial and economic system. Cryptocurrency is a fairly new concept that has adapted to the current financial and credit system and is constantly evolving. Digital money has a future as it is very convenient not only for the average person but also for the whole country. It is possible to remove the drawbacks by developing effective laws regarding the use of cryptocurrency and the regulation of the rights and obligations of its users. In the future, thanks to transaction transparency and protection against virtual currency fraud, it can significantly reduce the level of corruption, drug business and the percentage of the shadow economy.