Blockchain technology and its industrial use cases can be detected worldwide. It is time for the state to think about the blockchain as an opportunity to reduce costs and build trust in the public spending. The paper and the presentation give an overview on how the state can apply the distributed ledger technology (DLT) and blockchain technology in the public administration: there are several countries with best practices already, and even more are in the introduction phase of opening to Industry 4.0 in the public services as well. On the field of FinTech area the state has great responsibility to regulate (or at least define) the phenomena of cryptocurrencies, that is already in use for more than 10 years now without any responsible governmental acts. Within this topic the Central Bank Digital Currency projects are also discussed in the paper, which are supported by IMF, and declared as the next natural step forward on financial markets. Keywords: blockchain, DLT, SDG, public spending
The article presents blockchain technology for developing national digital economy, efficiency of digitalization and basic principles of digitalization, and a set of blocks requiring material resources. The purpose of the article is to study features of digital economy development and propose application of blockchain technology in national economy sphere. Research methods: The instrumental and methodical apparatus of research based on application, in framework of a systematic approach, general scientific research methods. Implementing blockchain technology in financial system at micro-macro degrees, insurance system, system of government, electron trade system, industrial system, intellectual property account system, education system, health care system was analyzed in this article. Organizing in perfect way the operations to implement the digital economy in Uzbekistan, and develop and establish large financial projects at the state level, moreover, illustrated in details importance of using blockchain technology in national economy industries while developing and establishing large financial projects at the state level.
The relationship between the development of financial technologies and the formation of the financial ecosystem has been investigated. It is proposed to divide the properties of the financial ecosystem into general and specific ones. The definition of the financial ecosystem has been clarified on the basis of identification of the institutional, functional and sectoral approaches to its understanding. The signs of classification of blockchains in the financial sphere are systematized.
The purpose of the article is to study the forms of state participation in financing of culture in order to solve socio-cultural problems in the context of decentralization. The methodology of the research is characterized by a complex combination of general scientific (formal-logical, method of analysis and synthesis), philosophical (dialectical) and special (comparative, formal-legal) methods, which gave an opportunity to study the experience of other states and Ukraine in the sphere of state participation in financing of culture to overcome socio-cultural problems. The scientific novelty of the work lies in carrying out a comprehensive study of the state's participation in the financing of culture in Ukraine and in the world in order to overcome socio-cultural problems in the context of decentralization reform, and defining the forms of such participation. Conclusions. Ukraine takes direct and indirect participation in financing the culture in order to overcome socio-cultural problems regarding the decline of spirituality and prevention of a humanitarian catastrophe. The main forms of state participation in financing the culture include direct budget financing (at the expense of state and local budgets). Indirect participation provides certain special rights for more efficient use of own funds by budgetary institutions – cultural institutions.
Nowadays, Blockchain is one of the most desired technologies, because almost every industry seeks to apply it. Tourism was no exception. Manufacturers of services on the basis of a distributed database claim that thanks to the blockchain it is possible to completely get rid of the monopoly in the market, which in turn will lead to lower prices for services and increase the level of tourist comfort. The technology was first applied to the Bitcoin network. Now blockchain finds application in a wide variety of areas, from processing financial transactions to storage of data on the purchase of virtual cats. The tourism sector can use the blockchain to store publicly available information about the quality of hotels and the behaviors of tourists, to process transactions for the purchase of tickets and reservation of housing, to create databases for storing identity cards, etc. The subject of the article research is the use of blockchain in the tourism industry. The goal is to analyze the current state and determine the prospects for using blockchain technology in the tourism business. The tasks are to highlight the main problems and prospects for using the blockchain, as well as formulating a strategy for using this technology in the tourism market as a means of improving the quality of travel. The study uses theoretical, methodological and systematic methods of source analysis, including statistical materials, regulatory documents, scientific articles to assess the state of the use of blockchain technology in tourism and the prospects for its application. The following results were obtained: the main directions of the use of the blockchain in tourism were identified, its influence on the creation of a more diverse and flexible offer in the tourism services market. It is concluded that blockchain technology can provide greater security and transparency in the tourism industry thus increasing its profitability, which in turn affects the creation of new jobs and the standard of living of the population.
The problem of the essence of cryptocurrency as a method of payment has been investigated. The absence of a unified legal regulation of the terms "method of payment", "cryptocurrency" is proved. The possibility of cryptocurrencies’ application through the prism of performing the functions of money is analyzed. Attention was drawn to the need for flexible legal regulation to further effective evolve along with the cryptocurrency and technology sector without hindering innovation.
Global supply chains more and more rely on modern information technologies which contribute to expenses decrease, improvement of processes quality and clarity in-crease. Transaction history tracking possibility between sender and recipient throughout the whole supply chain is key factor, especially if there is confidence problem between chain members. This article enlightens basic principles of blockchain practical use and distributed registry construction in addendums of blockchain. Main attention is payed to analysis of integration increase in supply chains that are created between business partners based on digital data and web-transferred funds. There are blockchain technology application methods defined that are used to increase supply chain resistance in the face of risks and indetermination. The methods provide a close connection between financial, logistics and commercial participants of trade and economic transactions with payments unification possibility and supplies via post operators. Analysis performed shows that blockchain technology concentrates around material and financial actives commerce; potentially the most interesting for both transactions and management processes inside organizations and between them. Processes, strategies, technologies and practical blockchain application in supply chains evidence about its vast potential and wide possibilities for development and efficiency increase of organizations that are parts of chains. Blockchain technology application can enlarge competition advantages of company and decrease risk by increasing of reliable information about chain members, particularly when two entities perform such an operation for the first time.
In this paper, we deal with comparative analysis of cryptocurrency wallets and traditional wallets. In addition to security analysis, we will observe the most important elements that should ensure a high level of social acceptability. In that regard, we will make a brief overview of the existing mechanisms for disposing a funds expressed in traditional currencies as well as for crypto currencies. Under the traditional safe keeping mechanisms and the disposal of cash, we will consider systems based on payment cards, payment by cash and payments over the internet. The use of digital wallets is reflected in various characteristics. The convenience of using the ability to execute a mobile phone transaction in matter of seconds. Efficiency is reflected in the speed of transaction execution. This paper describes the current state of digital wallets on the market, the choices of a better solution for purchasing and using digital wallets, security of digital wallets and future trends in their development.
Over the last years, the blockchain technology has attracted the attention of both business users and IT specialists. In essence, blockchain or a chain of blocks is a distributed and decentralized database replicated across the multiple nodes of a network. Until recently blockchain has been associated mainly with cryptocurrencies, but nowadays it is revealing its serious potential as a means of replacing the business models that facilitate the operations of business organisations and the communication between them. The utilisation of the advantages provided by blockchain, however, requires their appropriate interpretations within the framework of business processes. With reference to this, the article analyses some of the main concepts and mechanisms of this technology. Special attention is paid to the interrelation of blockchain and distributed ledger (DLT) technologies, hashing of transactions and data management through consensus as well as the so called “smart contracts”. A parallel is made between the capabilities of public and private blockchain. Based on this, the study defines the fundamental blockchain characteristics and the advantages resulting from them. It is suggested that the blockchain technology offers a solution to the primary problem of trust between people in the context of global communication and ensures better transparency, reliability and security of data and business processes. In addition, the author outlines certain potential technical and business risk that have to be taken into consideration in the process of data transfer with reference to blockchain.
<p>Intrapreneurship is considered to be the most suitable mechanism for the efficient management to provide innovation activity and high competitiveness of large companies. This article researches the mechanism of decentralization of large state-owned companies in economically-developed countries as well it provides scientific foundations of the necessity of transition to the intrapreneurship mechanism which includes principles of internal entrepreneurship. In addition, it studies economic results of financing process implemented while operating innovation projects on the example of large companies of Uzbekistan. We have analyzed NPV, IRR, PbP, sensitivity to main risks, difference between scenarios both with project realization and without project realization in oil and gas, energy and mining industries. Moreover, recommendations aimed at successful implementation of intrapreneurship in practice have been developed and possible ways to finance established intercompany entrepreneurship units have been proposed.</p>