Blockchain Papers

Serhii Smerichevskyi, Olena Suzdalieva

, . ,

Radovan Vojtko, Dominik Cisár

No abstract is available for this record.

Н. П. ЛЕВКОВЕЦЬ N. Levkovets

The purpose of the article is to explore the concept of Bitcoin and its economic nature and history, as well as current trends in implementation in Ukraine. Methodology of research. The tasks assigned to the article were solved by means of analysis, systematization, generalization and abstract-logical methods of research. Findings. Cryptocurrency is an interesting link for investment, and its popularity is growing today. Many economic processes take place with the help of digital bills, and their percentage increases significantly with each passing day. With Bitcoin, you can integrate new technologies into an existing financial system. Ukraine has enormous prospects for developing cryptocurrencies, and with the right approach, the country may have dividends from pursuing a rational policy on the circulation and use of Bitcoin, in particular from taxation in this area. Legalization of the cryptocurrency market in Ukraine can stimulate the economy and significantly accelerate GDP growth. The Ministry of Digital Transformation intends to launch an international PayPal payment system in Ukraine and determine the legal status of cryptocurrencies at the state level. PayPal is currently used by more than 230 million people in 190 countries. It is the intermediary between seller and buyer, ensuring the reliability of payment with VISA, MasterCard, American Express and other payment systems. Determining the legal status of cryptocurrencies will help legalize related activities, such as buying and selling cryptocurrencies, as well as extracting them, and will bring market players out of the shadow zone, which will stimulate additional tax revenue from the budget. The Ministry of Digital Transformation of Ukraine plans to legalize cryptocurrency mining activities in 2019–2022. Practical value. The article deals with the concept of «cryptocurrency» and its most common currency – Bitcoin, and the prerequisites for its emergence and use in Ukraine. One of the main features that distinguishes cryptocurrency from other electronic funds is the private nature of the issue, as well as the technological features of their production and putting into circulation. All transactions made within these payment systems are publicly available. This preserves the anonymity of their members, because electronic cryptocurrency wallets used to transmit cryptocurrency do not allow users to be identified as they are not personalized. Keywords: Bitcoin, cryptocurrency, virtual money, digital currencies, mining, payment system. REFERENCES 1. A short history of Bitcoin and crypto currency everyone should read. www.forbes.com.Retrieved from https://www.forbes.com/sites/bernardmarr/ 2017/12/06/a short history of bitcoin and crypto currency everyone should read/#6265a4953f27 (accessed 11 December 2019) [in English]. 2. Site of journal Bitcoin consultant. bitcoinist. com. Retrieved from https://bitcoinist.com/bitcoin down google searches bigger beyonce (accessed 11 December 2019) [in English]. 3. Bez dobra nema zhyttya. Ekonomist dav prohnoz shchodo rozvytku kryptovalyuty [Without good there is no life. Economist gave forecast on development of cryptocurrency]. obozrevatel.com. Retrieved from https://www.obozrevatel.com/eng/economics/without dollars nemae zhittya ekonomist dav forecast schodo rozvitku kriptovalyuta.htm (accessed 01 December 2019) [in Ukrainian]. 4. Vinya, P. & Casey, M. (2017). Epokha kriptovalyut. Kak bitkoin i blokcheyn menyayut mirovoy ekonomicheskiy poryadok [The era of cryptocurrencies. How bitcoin and blockchain are changing the global economic order]. Moscow : Publishing house Mann, Ivanov and Ferber [in Russian]. 5. Haber, S. & Stornetta, W. S. (1997). Secure names for bit strings. In Proceedings of the 4th ACM Conference on Computer and Communications Security, 28–35 [in English]. 6. Liu, Y. & Tsyvinski, A. (2018). Risks and returns of cryptocurrency. National Bureau of Economic Research, 111 [in English]. 7. Proekt Zakonu Ukrayiny «Pro vnesennya zmin do Podatkovoho kodeksu Ukrayiny shchodo opodatkuvannya operatsiy z virtual’nymy aktyvamy v Ukrayini» № 9083 vid 14.09.2018 r. [Draft Law of Ukraine «On Amendments to the Tax Code of Ukraine on Taxation of Operations with Virtual Assets in Ukraine» from September 14, 2018, № 9083]. ligazakon.ua. Retrieved from http://search.ligazakon.ua/l_doc2.nsf/link1/JH70B1AA.html (accessed 13 December 2019) [in Ukrainian]. 8. Rynok kryptovalyut potrebuye pravovoyi vyznachenosti vid rehulyatoriv [The cryptocurrency market needs legal certainty from regulators]. brdo.com.ua. Retrieved from http://brdo.com.ua/top/rynok cryptovalyut the necessary legal definition of sight regulyatoriv (accessed 04 December 2019) [in Ukrainian]. Published: 2020-07-17

Svitlana Yermak, Margaryta Satanievska

No abstract is available for this record.

K. O. KYSLA, Yu. O. FOMENKO

No abstract is available for this record.

T.P. Kozar

No abstract is available for this record.

Jurii Bilous

Decentralization reform includes a number of other reforms, including education reform, which is one of the most important. The main results of the reform of secondary education are: the introduction of the New Ukrainian School, the change of the system of management and financing of institutions, as well as the creation of educational districts and basic schools. Optimization of the network of general secondary education institutions (GSEI) is an important element on the way to quality educational services. When optimizing the network of GSEI, it is necessary to take into account a number of factors, among which the most important are: quality of transport routes, distance of transportation of students, number of students who will need transportation, material and technical base of institutions (availability of computer classes, gym and classrooms), staffing of the library fund, the quality of teaching staff and others. As of September,1 2019 there were 402 educational establishments with 105483 students in Chernivtsi oblast. Currently, 14 basic educational institutions and 22 branches have been established in Chernivtsi oblast. Among the raions, the largest number of basic educational institutions have been established in Hertsa raion. No basic educational institutions have been established in Putyla and Hlyboka raions, as well as in the city of Chernivtsi. A total of 7,354 students study in basic institutions and their branches. To test the method of optimization of the network of GSEI, we chose Kitsman raion of Chernivtsi oblast, which is optimal for the oblast and Ukraine in general on various indicators: demographic characteristics; the size of the raion; features of the transport network; the number of GSEI and students enrolled in them and others. Currently, there are 2 basic institutions and 2 branches in Kitsman raion. After analyzing a number of indicators (level of institutions, peculiarities of the institution location, number of students who will need transportation, area of student premises, material and technical base, staffing of the library fund, qualification of pedagogical staff and quality of graduates’ knowledge), we propose to optimize Kitsman raion network of GSEI, by means of establishing of 12 educational districts, 11 basic institutions and 26 branches. In most educational districts of Kitsman raion we propose to create one basic institution, only in Kitsman educational district – two, and in Shypyntsi and Luzhany educational districts not to create any basic institution at the moment.

T. V. Paliichuk

The article is aimed at disclosing the issue of financial support for the construction, reconstruction, repair and maintenance of motor roads in the context of implementation of budget decentralization and decentralization of road management. The article specifies the steps taken towards implementation of decentralization in the sphere of road infrastructure of Ukraine and the introduction of budget decentralization: distribution of functions and powers in the road sphere at the subregional level of management and the updated mechanism of financing the road industry. Both the dynamics of formation and distribution of the State Road Fund and the status of distribution of subvention on the streets and roads of settlements are analyzed. The vision of the main risks of financial support for the maintenance of streets and roads of communal property in settlements in 2021 is disclosed. The directions of improvement of the system of financial support for the construction, reconstruction, repair and maintenance of motor roads are proposed, including in particular: the need to deepen diversification of sources of formation of the State Road Fund; consolidation of the proper guaranteed part of the State Road Fund’s costs for the maintenance of streets and roads of communal property in settlements; balancing the expenditure load and financial support for the implementation of road projects; increasing the level of transparency of decision-making in the distribution of financial resources intended for the construction, reconstruction, major, ongoing repair of motor roads.

Valerii Yankovskyi, Мaryna Shendryhorenko

The article is aimed at studying the essential component of decentralization and budget revenues; determining the main results of the implemented reform of budget decentralization in Ukraine; analyzing the current situation of own revenues of local budgets. The following general scientific methods were used in the research process: theoretical generalization, comparison and grouping – to determine the essence of the concepts of «budget revenues», «decentralization» and disclosure of components of budget revenues; analysis – when considering own revenues of local budgets for 2014–2020 and the structure of incomes in the revenues of local budgets for January – July 2020; system approach – in the formation and disclosure of the essences of the main stages of the reform of budget decentralization in Ukraine. The views of various scientists on the concepts of «budget revenues» and «decentralization» are examined. It is determined that budget revenues are an aggregate of financial relations that participate in the process of distribution of part of GDP in order to form targeted cash funds at the level of the State and local self-government bodies, designed to finance their own functions and obligations defined in accordance with the current legislation. The main components of budget revenues are determined and their classification is provided. The main stages of the budget decentralization reform in Ukraine are defined and systematized, their detailed characterizations are provided. The analysis of own revenues of local budgets for 2014–2020 and revenues in local budget revenues for January – July 2020 was carried out, during which it was determined that local taxes, despite the introduced budget decentralization, comprise only about 30% in the structure of incomes in the revenues of the general fund of local budgets, while in some countries of the European Union this figure reaches 50–60%. Practical steps towards further implementation of the budget decentralization reform for local self-government bodies are proposed.

Вячеслав Ляшенко, Наталія Трушкіна

At present, the industrial park as an effective mechanism for the implementation of the regional economy needs transformational transformations and modernization changes in industrial production, which will help increase the competitiveness and sustainable development of local communities. The purpose of this study is to develop proposals for institutional support for the formation and operation of industrial parks at the level of integrated territorial communities in a decentralized and smart specialization, taking into account existing international practice. To achieve this goal, methods of analysis and synthesis, induction and deduction, comparison, system approach, systematization, structural and logical generalization were used. The article studies and summarizes the international experience of creation and development of industrial parks. The tax and customs privileges provided to industrial parks in different countries of the world are defined. The legal aspects of creation and functioning of industrial parks in Ukraine are analyzed. The main barriers that hinder the formation and localization of industrial parks at the level of united territorial communities have been identified. The structural and logical scheme of the concept of creation and functioning of industrial parks in Ukraine is constructed. Regional development strategies for 2021-2027 are considered. Based on the analysis, it is established that in a significant number of strategic documents the priority areas include accelerating the achievement of competitiveness and innovation of the region’s economy on the basis of smart specialization. Regional strategies do not address the creation of appropriate conditions for the formation of the institutional environment for the development of industrial parks. Therefore, it is advisable to make changes and additions to the Strategies of regional development until 2027, the content of which is to include a set of measures to intensify the development of industrial production and the formation of a network of industrial parks. An analysis of the financing of industrial parks in Ukraine has been performed. Proposals are provided, the implementation of which will improve the institutional and investment-financial support for the creation and development of industrial parks at the level of territorial communities.

Hanna Danylchuk, Oksana Kovtun, Liubov Kibalnyk, Oleksii Sysoiev

The paper focuses on monitoring and modelling of the cryptocurrency market. The application of the chosen research methods is based on the analysis of existing methods and tools of economic and mathematical modelling of time series research on the example of the cryptocurrency market. It is proved that the use of individual methods is not relevant, as they do not give an adequate assessment of the specified market, so a comprehensive approach is the most acceptable. Therefore, monitoring and modelling of some cryptocurrency pairs with different capitalization degree were implemented by fractal and recurrent methods of the financial markets. The daily values of currency pairs for the period from September 2015 to November 2019 were chosen as information basis for monitoring and modelling. The use of R /S modelling method make it possible to conclude the persistence of time series of the selected cryptocurrencies indicating that the market trends are clearly defined, the currency pair of XRP/USD has the highest level of trend resistance. To compare the obtained results, the comprehensive approach is offered using recurrent diagrams that help to determine the cryptocurrency stability. The results of modelling by the recurrent method show that the most stable cryptocurrencies are the ones with the highest capitalization, namely Bitcoin and Ripple.

Halyna Voznyak, Iryna Zherеbylo

Introduction. The initiated processes of administrative and financial decentralization in Ukraine have actualized the issues of modernization of the social sphere in general and its key segments, among which education occupies a prominent place. Purpose is to identify the features of the current state of functioning of the education sector and outline the directions of its reform in the conditions of decentralization. Results. The article presents a problem-oriented analysis of the functioning of the education sector in terms of its components: preschool and secondary education, vocational education and higher education, as well as the management and financing of science. The main problems that are characteristic of the field are identified, among which the imperfect mechanism of financing, built on directing the funds for the maintenance of educational institutions, and not ensuring the quality of education according to the principle of "money go after the child", the lack of incentives for professional development of teaching staff, etc., are highlighted. The specifics of functioning and financing of pre-school education by united territorial communities, peculiarities of use of educational subvention are revealed. The problems of vocational education and the need to change approaches to its organization were emphasized. The analysis shows that, despite the positive changes and new opportunities that have emerged in the field of education and due to administrative and financial decentralization, there are risks of not achieving the planned goals. These include: low financial capacity of communities, lack of established standards of educational funding, conflicts about school closures, shortages of professionals with education and work experience who could exercise new authority and manage the on-site education process, and divide responsibility for quality of learning. Possible directions of improvement of the sphere of education are outlined.

A.G. Luchkin, О.Л. ЛУКАШЕВА, Н Е Новикова, Vitalik Melnikov · 6 authors

The subject of the study is cryptocurrencies from the perspective of the possibility of using them as a means of payment in the context of economy digitalization. The aim of the work is to assess the possible consequences of the further spread of cryptocurrency in the global financial system and to find ways to overcome them. The article analyzes the history of the emergence and development of money circulation systems from the gold standard to modern conditions for the emergence of cryptocurrencies, and also discusses the possibilities of using cryptocurrencies in fraudulent schemes. As a result of the study, the following tasks were solved: a historical analysis of money circulation systems was carried out; modern trends in the development of modern payment systems were revealed; the possibilities of using electronic and virtual money in modern conditions of digital economy development were analyzed; digital fraud opportunities were evaluated; the ways of regulating cryptographic money turnover were revealed. A historical analysis of monetary systems development enables to identify the objective reasons for the emergence of cryptocurrencies and the need to develop a legal and economic mechanism for their regulation in the digital economy development. Description of cryptocurrency fraud schemes enables to identify possible ways to stop them. The problem of organizational development of the settlement of relations in the field of cryptocurrency exchange, which will prepare the Russian financial system, reduce potential risks and learn how to use the benefits arising from the cryptocurrency turnover, is being solved.

Tetiana Tarasova, Olga Usatenko, Андрій Макурін, Valentyna Ivanenko · 5 authors

The objective of this paper is to determine the basic features of the use of mathematical modeling of the system to forecast cryptocurrency exchange rate. The study determines that cryptocurrency is the simplest investment asset being and, at the same time, the riskiest one. Advantages and disadvantages of cryptocurrency use are specified. Advantages include: code openness, anonymity, decentralization, emission, and reliability. Disadvantages include lack of guarantees, instability, risk of prohibition and possible loss. A model to forecast bitcoin cryptocurrency exchange rate is proposed and substantiated mathematically. The observations are the basis to develop a hypothesis: the faster the cryptocurrency (e.g. bitcoin) is mined, the more difficult it is to forecast bitcoin cryptocurrency exchange rate. Certain factors emphasize which may affect the cryptocurrency exchange rate: trade wars of the USA with other export-oriented world economies (China); advent of IEO as the alternative for ICO and new drivers connected with the interest in cryptocurrency; FATF recommendations for market control, the entry of world giants (e.g. Facebook) into the crypto-market and the development of the stablecoin market.

Britchenko Igor, Maksym Bezpartochnyi, Natalia Maslii

The purpose of the article is to analyze the prerequisites, advantages, problems and prospects for the development of the processes of financial decentralization in Ukraine. Initially, the article reveals the features of the federal and unitary arrangements of states. As research has shown, the principles of fiscal federalism have been increasingly used by unitary states. The legislative and normative legal acts regulating the implementation of the decentralization policy in Ukraine are justified and given. Characteristics of the formation of new structures, such as: united territorial societies and their sources of financing are characterized. Changes in incomes in local budgets as a result of decentralization are analyzed, and their significant growth is observed. The mechanism of horizontal leveling of the tax ability of territories has been developed, which helps to remove imbalances and unevenness, most of the budgets of Ukraine are recipients of budgetary funds, since they receive a basic subsidy. The influence of the development of information technologies on entrepreneurial activity in small towns and villages is determined. Information technology is a tool of points of growth of territories. Decentralization will not gradually increase due to urbanization processes, but will be accompanied by new development mechanisms, where the labor force and the means of production will unite and help create a qualitatively new environment.

Оlha MALINOVSKA, Уляна Моторнюк

Introduction. Transformation processes in Ukraine dictate the need to formulate such a concept of state financial policy, which would be the beginning of economic growth. This primarily leads to the creation at the territorial level of strong economic and financial systems that can independently solve local socio-economic problems. It is necessary to determine the role of material and financial support in the life of local self-government, the boundaries of a harmonious combination of economic feasibility of the existence of territorial communities with the main goal of the existence of local self-government in general - to meet the basic vital needs of citizens at the place of residence. The purpose of the paper is to study and analyze the material and financial provision of local communities during decentralization. Results. The analysis of the essence of the concept of "material and financial basis of local self-government" suggests that it is quite multifaceted. In some cases, it focuses on its economic essence, in others it is legal. Although the link and the significance of both spheres are evident. This is also explained by the dual nature of property and finance, namely, economic and legal. Principles of the formation of the material and financial basis of local self-government are the initial principles, ideas and principles, which are the basis of the organization and activity of the territorial communities, the population, representative bodies which they are formed, local executive bodies, caused primarily by the essence of local self-government those involved in the management of local material and financial resources. On the one hand, the material and financial basis is divided into two parts: material and financial. On the other hand, the components of the material and financial basis of local self-government are: first, communal or municipal property (in Ukraine, the communal property is recognized and regulated by law); and secondly, revenues (revenues) of local budgets and other funds; and thirdly, another property that is designed and used to meet the local needs of the population. Conclusion. Considering that the right to education, medical care guaranteed, guaranteed by the constitution, etc. should be ensured, and in order to prevent a biased distribution of financial resources in budget calculations, it is necessary to organize work on the calculation and consolidation at the legislative level of normative indicators of financial support of existing state social standards.

Iryna Zastrozhnikova

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.

Anastasiia Mamonova

Observing the rapid uptake and active use of virtual currencies that are not found in every country in the world, regulators are asking questions about the ability to control and regulate their operations. Therefore, the article describes approaches to determining the economic nature of virtual currencies and analyzes their legal regulation and transactions with them in the world and in Ukraine. The status and official attitude of the regulatory bodies of different countries, consolidation of legislation and taxation of virtual currencies are reflected. In recent years, there have been significant changes in the attitude of most cryptocurrencies in most of the leading countries of the world, from “illegal payment” to “promising financial instrument”. The increasing interest of government in progressive innovation has led to an increase in the influx of new entrants (both individuals and institutions) who are actively using virtual currencies. Yes, cryptocurrencies have caused a lot of concern about the risks they may bring since the first digital currency, Bitcoin. Over a period of time, cryptocurrency exchanges have been steadily increasing their interest in underwriting to ensure the secure process of exchanging and buying cryptocurrencies, reducing theft. Virtual currencies contain a large amount of capitalization in terms of fiat currencies, but the disorder and even the unstable state of cryptocurrencies, as well as the lack of historical loss data, complicate the process of controlling their turnover. However, given the interest, popularity and attention of the media, many, including lawyers, political scientists, economists, are trying to understand the basics of technology and its implications for politicians and other departments. The development of blockchain-based cryptocurrency technology has been introduced in areas that have traditionally been widely regulated, such as capital raising and money transfer. Politicians and other government officials often try to apply laws that have been developed for decades for the latest technology. The US in each state has a different definition and approach to cryptocurrency transactions. A similar situation is observed in the international arena, where some countries have sought to promote the growth of technology and others have sought to remove technology from their jurisdiction. Therefore, the legal field of law requires in-depth research and analysis on virtual currency transactions, the development and implementation of a new cryptocurrency exchange rate verification mechanism that is similar to those existing for traditional financial processes.

Iryna Prikhno

It has been proved that in the context of financial decentralization, existing mechanisms of territorial financial resources formation and use of need improvement.The purpose of the study is to identify the positive and negative effects of financial decentralization in Ukraine and to find effective sources of local budgets replenishment to increase the level of socio-economic development of the territories.The dynamics of local budget revenues are analyzed in terms of budgets of the united territorial communities. It has been found that local government general fund’s own revenue tends to increase, although the annual growth rate of local government general fund’s own revenue is somewhat slowing. The process of decentralization in Ukraine is characterized by a rapid increase in the total number of united territorial communities. The rate of united territorial communities’ budgets own revenues growth is the highest in comparison to other local budgets.The structure of own income of the united territorial communities is investigated. It is revealed that the income of the territorial communities is generated mainly by income from the personal income tax and by local taxes and fees.It was found that the amount of state support for the development of territorial communities and the development of their infrastructure is significant and has a steady upward trend. In the structure of state financing of local self-government in Ukraine subsidies for socio-economic development and for development of medicine in rural areas, and financing by the State Fund for Regional Development prevail.A number of measures are proposed that will contribute to the growth of financial support for the socio-economic development of the territories.

Дмитро Ігорович Погрібний

The article discusses current approaches to determining the legal status of cryptocurrencies in order to create effective mechanisms of economic and legal support for their use in Ukraine. Attention is drawn to such a necessary factor as cooperation in the digital sphere between the state, individuals, and groups in the context of the «digital interdependence» paradigm, which was formulated at the #EuroDig2019 UN Digital Interdependence Report. The process of transformation of existing approaches to defining the economic and legal nature of cryptocurrencies by leading countries and international financial regulators is analyzed. The advantages and disadvantages of using cryptocurrencies have been systematized, as well as the genesis of such cryptocurrency as Bitcoin. It is determined that cryptocurrency is a new stage after the first electronic money, as well as the main advantages of its use, namely: instantaneous speed of payments (from a few seconds to several minutes); absence of transaction commission; anonymity of calculations; irreversibility of payments; no need to convert to the currency of the country of production of payments, a high degree of security of operations. The previous attempts of public authorities in Ukraine to establish a legal regime for the cryptocurrency market by adopting relevant regulatory legal acts in this area are analyzed. The ways of optimization of the legislation on cryptocurrencies in Ukraine are proposed in order to significantly enhance the innovative component of the Ukrainian economy and create competitive advantages for economic entities

Grigorii Ursol, Alexandr Skrypnyk, O. M. Vasylenko

The article analyzes the strengths, weaknesses, potential opportunities and threats in the process of forming and making appropriate management decisions to integrate health facilities into united territorial communities (UTC) infrastructure, or other options, in the process of decentralization. The basic package of new legislative and regulatory documents has been worked out, which envisages radical changes and systemic reforms, decentralization of power - transfer from the executive bodies to local self-government bodies of a considerable part of powers, resources and responsibilities. A number of reform changes have been identified, which may lead to the expected institutional, organizational and structural-functional changes of the existing public health management system in Ukraine and changes in the individual functional characteristics of the entities of this system. The differences between medical reforms in terms of administrative reform, the role of UTC in this process, in relation to a number of other European countries are considered. On this basis, possible options for the development of events in the context of territorial governance of these processes in the system of health in Ukraine have been proposed. In order to continue scientific research in this direction, the next stage of the evolution of the formation and adoption of appropriate management decisions in the UTC is to consider the cooperation of the UTC in the creation of joint infrastructure medical facilities, their governing bodies, implementation of projects of activity, financing and maintenance.

Viktoriia Marhasova

The monograph investigates the theoretical, methodological and practical aspects of thefunctioning of the financial system of the united territorial communities under the conditions of decentralization reform in Ukraine.In-depth analysis of the scientific concept of the development of local self-government has beencarried out. The peculiarities of the formation of revenues and expenditures of the united territorial communities in the conditions of reformation of the system of inter-budgetary relations have been highlighted.The peculiarities of the financial behaviour of the united territorial communities in the context ofthe priority of budget expenditures have been studied and determined. The monograph has determinedthe main directions of formation of the financial management system of the united territorial communities and carrying out of financial control over their activities in order to improve the financial capacityof the territorial communities.The monograph will be useful to specialists in finance, scholars, the teachers of higher educationalinstitutions, the students of economic specialties, as well as local self-government authorities.

Oleksii Yermolenko, Nataliia Lysonkova, Anastasiia Shumbar

No abstract is available for this record.

V. V. Godin, А. Е. Терехова

The main ideas and properties of blockchain have been examined: architecture, models of blockchain use, in particular, decentralized autonomous organizations and applications, private blockchain – systems and blockchain – services. Blockchain infrastructure in implementation has been analyzed: reality and myths. An attention has been paid to current trends of blockchain usage in business and society in terms of opportunities, threats and risks. The areas of blockchain implementation have been presented, such as government, business, financial organizations, cryptocurrency and ICO, smart contracts and current trends of using blockchain technology.