Blockchain Papers

Baocheng Wang, Shiping Chen, Qin Wang

No abstract is available for this record.

Joshua Seluese Okojie, Opeyemi Morenike Filani, Patience Ndidi Ike, Jerome Onoja Okojokwu Idu · 8 authors

Environmental, Social, and Governance (ESG) reporting has become an essential requirement in energy projects, driven by regulatory mandates, stakeholder expectations, and global sustainability goals. However, traditional ESG compliance processes are often fragmented, manual, and prone to inefficiencies and inaccuracies. This paper reviews the integration of blockchain technology and smart compliance management systems in automating ESG reporting for energy projects. It examines how distributed ledger technology ensures data integrity, transparency, and real-time tracking of ESG metrics while facilitating regulatory compliance and auditability. The review also explores the role of smart contracts in enforcing policy rules, minimizing human error, and enhancing trust among stakeholders. Furthermore, it evaluates current implementations, challenges, and future directions in applying blockchain-enabled automation in ESG reporting. The study concludes by identifying gaps in existing frameworks and suggesting a roadmap for the development of scalable, interoperable, and AI-integrated compliance ecosystems that can adapt to evolving ESG standards.

Marina Stepantsevich, Elena Khudyakova, Oleg A. MOTORIN, Alexander V. Eder · 5 authors

The paper considers the conceptual aspects of the application of distributed ledger technology elements (blockchain) and their derivative smart contract for the construction of automated transactions on the example of individual business tasks of large wholesale distribution centers. In the course of the study, the elements and properties of the smart contract characteristic of the subject area under study were determined, as well as the conditions, types of business operations and the corresponding data allowing them to consider the business object state with its subsequent implementation in the smart contract transaction.

Anton Dziatkovskii

The article is devoted to technologies of digitalization of educationzero-knowledge proof, blockchain and artificial intelligence.It analyzes the features of these technologies and lists possible uses in terms of the public good.

Authors unavailable

No abstract is available for this record.

Sridhar Reddy Yerram

Smart contracts have become a game-changing tool for improving supplier relationship management (SRM) efficiency and transparency within the blockchain ecosystem. This study aims to understand better how intelligent contracts facilitate supplier-buyer communication, increase accountability, and streamline procurement procedures. The study's primary goals are to examine the advantages and difficulties of smart contracts in supply chain management (SRM), explore how they affect supply chain operations, and determine how these findings may affect industry standards and regulatory frameworks. A review methodology based on secondary data amalgamates extant literature and empirical research on smart contracts for supply chain management. Important discoveries show that smart contracts promote efficiency and cooperation in SRM by automating contract execution, improving transparency, and enabling trustless transactions. To fully utilize intelligent contracts in SRM, however, obstacles, including regulatory ambiguity, scalability constraints, and interoperability concerns, must be resolved. Implementing smart contracts in SRM will require clear regulatory frameworks, the development of standards and interoperability, and funding for research and teaching.

Jelena Marjanović, Nikola Dalčeković, Goran Sladić

The increasing threat landscape in Industrial Control Systems (ICS) brings different risk profiles with comprehensive impacts on society and safety. The complexity of cybersecurity risk assessment increases with a variety of third-party software components that comprise a modern ICS supply chain. A central issue in software supply chain security is the evaluation whether the secure development lifecycle process (SDL) is being methodologically and continuously practiced by all vendors. In this paper, we investigate the possibility of using a decentralized, tamper-proof system that will provide trustworthy visibility of the SDL metrics over a certain period, to any authorized auditing party. Results of the research provide a model for creating a blockchain-based approach that allows inclusion of auditors through a consortium decision while responding to SDL use cases defined by this paper. The resulting blockchain architecture successfully responded to requirements mandated by the security management practice as defined by IEC 62443-4-1 standard.

Віталій Носов, Oleksandr Manzhai, Ye. V. Panchenko

The mechanism of Ethereum transactions analysis during the prevention and investigation of criminal offenses based on the study of modern experience in this area has been proposed. The directions of cryptocurrency use by offenders have been revealed. The relationship between the decrease of the cash market and the increase in the use of cryptocurrencies has been described. The state of legal regulation of cryptocurrencies in Ukraine has been studied. The insufficient regulation of the issue of handling cryptocurrencies in criminal proceedings has been emphasized. The issue of impossibility to seize cryptocurrency assets during criminal investigation has been raised. The problematic issues faced by law enforcement agencies in other countries when seizing cryptocurrencies have been outlined.
 The structure and peculiarities of the cryptocurrency Ethereum circulation have been revealed. The features of the Ethereum platform and its distinctive features have been studied. The key standards that characterize the work of the Ethereum platform have been analyzed, explanations of key terms have been provided. The essential data in the blockchain for analysis have been highlighted, the procedure for accessing the Ethereum blockchain transactions has been described. Various web resources which one can access the Ethereum transaction blockchain through have been provided.
 The purpose of email mixing, the conditions under which the anonymity of the email address is lost have been revealed. Some software tools used to analyze ethereum transactions have been evaluated by experiment. Automation of searching and building a schema of relations of different identifiers of e-transactions on the example of Maltego Community Edition and Crystal Expert have been demonstrated. Additional modules that need to be installed in Maltego Community Edition to analyze the relevant transactions effectively have been described.
 It has been emphasized that when analyzing ethereum transactions, it is necessary to use not only ready-made tools, but also various scientific methods, such as identifying key criminal groups and wallets, identifying cases of money laundering using cryptocurrencies, additional address profiling, prevention of illegal behavior on the trading ethereum platform. The importance of effective analysis of cryptocurrencies for investigation has been described. The effectiveness of the Crystal Blockchain platform as a tool for analyzing Ethereum transactions in criminal investigations has been evaluated. The technical side of law enforcement training on the seizure of cryptocurrency assets has been revealed. For this purpose, it is recommended to use the so-called test networks. The mechanism of controlled transfer of cryptocurrency assets for custodial and non-custodial wallets has been proposed.

Kuvonchbek Rakhimberdiev, Akram Ishnazarov, Oydinoy Khayitova, Otabek K Abdullayev · 5 authors

Currently, artificial intelligence technologies are rapidly entering many areas of our society. It should be said that currently several reforms are being implemented in the Republic of Uzbekistan for the development of artificial intelligence technologies. In particular, the decision of the President of the Republic of Uzbekistan "On measures to create conditions for the rapid introduction of artificial intelligence technologies" dated February 17, 2021, No. PQ-4996 defines the main tasks in this regard. One of the most pressing issues studied by modern researchers is the issues related to the topic of digitalization of the educational process. In this article, the stages of development of artificial intelligence, and its application in the field of modern education are presented. The potential of artificial intelligence in education is also considered. At the same time, the processes of intellectual education are modeled mathematically. Algorithms of intellectual educational processes are proposed using CCN, and SHAP algorithms for organizing intellectual educational processes.Also, issues of ensuring the immutability and confidentiality of student evaluation results on distance education platforms, a strategy for ensuring the security of student test and control data using blockchain technology are presented.

Maria Girich, Ivan Ermokhin, Antonina Levashenko

Today, a crypto economy is actively developing throughout the globe based on the use of cryptographic technologies for the creation of new digital products, including the issuance of digital financial instruments. The topic of regulation of digital financial assets (hereinafter referred to as DFA) is relevant in the world: since 2019, some countries, including Russia, began to introduce legal norms regarding the issuance of DFA, as well as the sale and turnover of such assets on the market. This article compares approaches to the regulation of DFA in Russia and globally, including the issue of determining financial instruments that will be related to these assets, aspects of the procedure for issuing, storing, and trading them, including the basic rights and obligations of issuers and investors in such assets, and the features of the operation of trading floors and platforms for issuing DFA. In general, two approaches to the regulation of DFA can be distinguished. The first approach is the application of existing rules to tokenized assets (for example, laws on securities and financial instruments); this approach is used in the United States. The second is regulation through the introduction of a new framework for the application of distributed ledger technology in financial services, for example, in Russia, Germany, Luxembourg, the European Union (EU), and Switzerland. This article examines the second approach, which is currently implemented in Russia, to identify differences with foreign regulation, for example, the use of custodian institution for accounting and storing digital assets, converting DFA into traditional financial assets, and creating rules for trading digital financial assets.

O. Ryabov, Azhar Zubir

This study considers the problem of the formation of the cryptocurrency market as an element of the financial market in Russia. Our study aims at solving the problem of trust in cryptocurrency and finding new ways to use it in the Russian economy. During the study, the main trends in the development of the cryptocurrency market both in Russia and abroad were identified, the main comparative characteristics of the cryptocurrency market with other elements of the financial market were identified, and the stages of the formation of the cryptocurrency industry were explored. The purpose of the study is to identify problems in the development and implementation of the cryptocurrency market in the Russian economy against the background of an increase in the number of sanctions restrictions and currency barriers to prevent a severe economic crisis and stagnation of the country's leading industries. The main events and statements of regulatory bodies that lead to an increase in the demand for cryptocurrencies among the Russian population are considered.

Igor Makarov, Antoinette Schoar

The detailed analysis of the Bitcoin network and its main participants. The expert authors (Igor Makarov, London School of Economics, Antoinette Schoar, MIT Sloan School of Management) completed the study authorized by the National Bureau of Economic Research (NBER), the US-based private agency. The Bitcoin network is defined as a new database comprising many of public and proprietary sources to link bitcoin address to real object, and an extensive set of algorithms to extract information on market key players behavior. Three major pieces of analysis of the Bitcoin eco-system were conducted. First, the authors analyze the transaction volume and network structure of the main participants on the blockchain. Second, they document the concentration and regional composition of the miners which are the backbone of the verification protocol and ensure the integrity of the blockchain ledger. Finally, they analyze the ownership concentration of the largest holders of Bitcoin. The researchers found that 1/3 of all bitcoins issued were owned by 10,000 individual investors. They conclude that the high concentration makes the first cryptocurrency market vulnerable to hypothetical hacker attack. The translator notes that paraphrasing English text in Russian was rather challenging due to the newness of the financial agenda and introduction of the term entity extensively used in the Western countries though new to Russia. Nevertheless, it is necessary to introduce readers to the bitcoin technology which will be also practical and useful for the library and information community.

Elena Sinelnikova-Muryleva, Maria N. Kuznetsova, Kirill Shilov

More than 12 years have passed since the debut of Bitcoin, the first cryptocurrency, but there is still no clear understanding of the essence of cryptocurrencies. At the same time, in recent years, interest in cryptocurrencies has continued to grow, and this financial instrument is becoming more and more attractive to individuals. Therefore, an issue of essence of cryptocurrencies is relevant. The main subject of the study is the profitability of cryptocurrencies. The main aim of this work is to identify the determinants of cryptocurrency returns. To achieve this goal, such tasks as the creation of factors reflecting the characteristics of the cryptocurrency market and the use of multifactor Fama-French models for the analysis of cryptocurrency returns were performed. Based on the collected daily data on capitalization, trading volumes and the price of more than 5,000 cryptocurrencies for the period from 01.04.2014 to 21.06.2021, standard factors based on capitalization indicators, trading volumes and the third momentum were built. The main estimation method is econometric modeling using the least squares method. The obtained results of an empirical study indicate a positive relationship between the profitability of groups of cryptocurrencies and the difference in the yields of the upper and lower 30% of cryptocurrencies according to the third moment. The difference in the yields of the lower and upper 30% of cryptocurrencies by market capitalization has a negative impact on the profitability of groups of cryptocurrencies. The main conclusion of the study is that before the beginning of high volatility period, cryptocurrencies could be considered as an asset for the diversification of market risk, but subsequently the cryptocurrency market began to move co-directionally to the stock market. The scientific novelty of the work stems from presenting an assessment of the impact of modeled factors on various groups (portfolios) of cryptocurrencies over certain periods of time. The study recommends to conduct further analysis of the profitability factors of cryptocurrencies on more homogeneous samples.

Л.П. Бакуменко, Н.С. Васильева

С появлением криптовалюты возникла угроза со стороны вредоносных программ (ransomware), которые наносят ущерб различным секторам экономики, особенно здравоохранению, поэтому анализ классификации транзакций криптовалюты (в частности, Биткоина) необходим с целью построения такой модели, на основе которой при помощи машинного обучения возможно было бы отнести транзакцию к классу опасных или безопасных. В статье рассматривается точность применения различных видов функций классификации методом опорных векторов. С целью классификации различных видов мошеннических программ, связанных с кражей криптовалюты Bitcoin, проведен сравнительный анализ точности каждой функции. На основе сравнительного анализа выбрана функция, с применением которой классификация является наиболее точной. Данная работа направлена на изучение эффективности и точности использования метода опорных векторов для выполнения вышеописанной задачи. With the advent of cryptocurrencies, there was a threat from malware (ransomware), which pose a threat to various sectors of the economy, especially healthcare. Therefore, the analysis of the classification of cryptocurrency transactions (in particular, Bitcoin) is necessary in order to build such a model on the basis of which, with the help of machine learning, it 113 would be possible to determine the transaction to the class of dangerous or safe. The article discusses the accuracy of the application of various types of classification functions by the method of support vectors. In order to classify various classes of fraudulent programs related to the theft of the Bitcoin cryptocurrency, a comparative analysis of the accuracy of each function was carried out. Based on the comparative analysis, the function with which the classification is the most accurate is selected. This work is aimed at studying the effectiveness and accuracy of using the support vector machine to achieve the above-described goal.

Xin Su, Shengwen Wang

Emerging technologies such as blockchain have accelerated the digitization of a variety of industries, improved the operational efficiency of enterprises, and promoted in-depth integration of digital technology with the real economy. Blockchain has characteristics that include distributed storage, peer-to-peer transmission, strong confidentiality, and easy traceability. This article introduces blockchain into an enterprise's information management system with the aim of breaking the enterprise's digital barriers by using technologies such as distributed ledgers, smart contracts, and asymmetric encryption, thus improving the security and applicability of the enterprise data assets. This article explores the characteristics and security of three types of blockchain in depth, designs the model framework of the blockchain digital system (BDS) based on industry needs, and analyzes the functions and the operating mechanisms of each level of the system in detail. Finally, based on the characteristics of public blockchain, consortium blockchain, and private blockchain, three typical application scenarios in which the BDS can be used are selected, and the article discusses how E-retail supply chains, virtual power plants, and carbon trading platforms can realize digital management using the BDS, thus providing a practical basis for construction and application of the BDS.

A. Dulaimi, R. Hamida, M. Naser, M. Mawed

Abstract. The scarcity of energy is one of humanity's most pressing issues in the twenty-first century. These problems can be found in various areas, including energy supply, exchange, and consumption. Population growth, rising global energy demand, natural resource shortages, and environmental concerns contribute to energy scarcity. Furthermore, energy shortage needs the expansion of renewable energies and energy efficiency, a major concern for all governments and organisations. Building energy efficiency is a crucial concept to consider when it comes to smart cities. Buildings are the greatest energy consumers, accounting for 40% of total energy consumption. Recent advances in machine learning within a big data context have paved the way for more efficient building energy management. Building energy consumption may be successfully managed by a real-time measurement procedure, allowing the economy to shift from a linear to a circular consumption model. This will tackle the issue of late notice of failed energy-saving initiatives and allow for immediate correction to restore the energy management system to ultimate performance.The energy hub might be as small as a single home energy system or as large as an energy system for the city. This paper will present a case study on developing a smart energy hub called Hubgrade 4.0 that relies on connected products using digital twin as a significant enabler for energy-saving initiatives. Hubgrade 4.0 provides an innovative approach to successfully implementing energy efficiency improvement using artificial intelligence and real-time data. Hubgrade 4.0 is the name of Enova by Veolia smart energy hub; Enova is the regional leader in integrated energy and multi-technical services, delivering performance-based energy and facilities management solutions. The energy hub digital twin is a link between a physical platform that administers the energy hub's IoT and a virtual platform that can derive services that are valid for the energy hub. Successful enterprises are using several new technologies to achieve the goals of Industry 4.0: efficiency, speed, agility, and customer-centricity. This paper concluded and highlighted lessons learned from the successful implementation of innovative energy management, which relied on a dedicated organisation, effective adoption of digital technologies, and embracing new business models, resulting in power savings of 254 million kW and water savings of around 3 million cubic meters, as well as financial savings of about 138 million AED in 5 years since Hubgrade 4.0 started operations its first energy-saving contract in 2017.

Alovsat Aliyev

The paper is devoted to the study of the formation and development trends of cryptocurrency and blockchain technologies in the digital economic environment, as well as the risks and dangers of their application. According to the features of classification, the main features of virtual currencies have been explained. The risks and dangers that may arise with the regular use of cryptocurrency and blockchain technologies emerging in the digital environment were considered. As a result of the transformation of digital technologies, the study of the problems of formation and development of cryptocurrencies and blockchain technologies is one the urgent issue. As a result of improving the management of economic and business processes on the basis of modern ICT, a digital economic environment with new non-traditional technological features is being formed. The possibilities of applying cryptocurrency and blockchain technologies in economic structures and processes in the new economic environment have been explored. The security features of blockchain technology and the mechanism of operation of the cryptocurrency have been explained. The differences between cryptocurrency and traditional money have been explained, and the essence of different approaches to cryptocurrencies in the international arena has been analyzed. Statistical analysis of scientific publications on cryptocurrencies has been conducted. The capitalization dynamics of cryptocurrency are presented. The rating of cryptocurrencies is shown according to the level of capitalization. The dynamics of price changes in Bitcoin are given. The structural content of cryptocurrencies and blockchain technologies was explained, and their application in economic operations was studied. The risks and dangers of cryptocurrency in the digital environment were analyzed. The mechanism of their operation in business and financial operations was explained. The dangers of the use of cryptocurrencies in the existing traditional financial system have been identified. The problems of legal regulation of cryptocurrencies in the world have been analyzed. It was noted that although the use of such technologies poses risks and threats in modern financial markets and cryptocurrency exchanges, they can create new opportunities and prospects for the future development of the country's economy in the digital environment. In the 4.0 Industrial Platform in the Digital Environment, some recommendations have been given for preventing the risks and dangers of using cryptocurrency and blockchain technologies.

Yehor Rudytsia, N. V. Bogdanova

The article proposes UML diagrams of the property right distribution module using NFT fractalization based on blockchain technology, which allow to develop software for the implementation of the modern way of fractions generation according to the ERC-1155 standard. A blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party. This standard was chosen for the impossibility of offering fractions for sale on other platforms, ensuring the uniqueness of the proposed decentralized application. The main reason for the development is to create a module located on the network blockchain, ensuring the security of functionality with cryptographic algorithms from one of the most secure blockchain — Ethereum. The task of development is to implement functionality that ensures the fulfillment of all functional requirements, the most important of which are the creation of a unique NFT to the user’s property, its Fractionalization and the sale of fractions to other users.

Yulia S. Chernyshova, B I Savelyev, S V Solodov, S V Pronichkin

Abstract Distributed ledger technologies can support a rapid transition to smart cities and provide a high level of urban quality. Despite the large number of approaches to the problem of synthesizing smart city management systems, there is still no universal solution. One of the most promising areas is the construction of neural network control systems. The optimization module for a neurosimulator is developed that can operate in real time. The study of the neurosimulator on various data of anthropogenic load showed the possibility of obtaining high control accuracy.

Li Huang, Yongjun Han, Aihua Yuan, Tao Xiao · 9 authors

As the digital economy promotes economic growth, the Internet of Things can solve the problem of productivity, and the blockchain can solve the problem of production relations, which realizes the industrial transformation of blockchain smart contract technology and becomes a new driving force for the industry. It is becoming more and more difficult for companies to control their own raw material supply, production, and sales by relying only on their own strength, and this is the key to influencing a company to become bigger and stronger. This problem will be efficiently solved by the implementation of “Internet of Things + Blockchain” technology. As a result, research into a new sort of smart supply chain management based on “Internet of Things + Blockchain” is required. From the perspective of building a smart supply chain, this paper makes full use of literature data methods, theoretical analysis methods, case analysis methods, logic analysis methods, and other methods. To study the effectiveness of IoT and blockchain technology through case study of changes in the order quantity in the procurement link of the supply chain. By understanding the current status of related research at home and abroad, as well as the Internet of Things technology and blockchain technology, this paper analyzes China. The main problems existing in the supply chain management of enterprises are the combination of the Internet of Things technology and the blockchain with the enterprise supply chain to create a smart supply chain platform, and the feasibility and functional efficiency of the smart supply chain platform. The related check was found, its deficiencies were found, and remedial measures were taken. The research results show that this intelligent supply chain management platform based on the Internet of Things (IoT) and blockchain can make the operation of the entire supply chain clearly visible. Information and data sharing can be achieved among the various departments of the supply chain to achieve scientific management and precision of the enterprise prediction. And this model can also be used in other industries to achieve industrial upgrading.

Olga Iermakova, Iryna Sedikova, Artem Dashian

Introduction. The development of fish farming in aquaculture in a sustainable way ensures the sustainability of fisheries, which is associated with local problems in each region. Ukraine’s fish production has been falling sharply over the last 30 years, and in 2021 the decline was more than 87 percent in comparison with 1990. In the Ukrainian aquaculture sector, there is a high degree of bureaucracy and risks of corruption, which need to be addressed in order to find a solution for the economy and businessmen. World reports show that Ukraine is among the world's leaders in illegal fishing. Thus, it is highly necessary to implement technologies for sector traceability and transparency, i.e., blockchain. Aim and tasks. The main aim of this article is to research the possible mechanism of implementation of the transparent and efficient system of using the aquatic bioresources of Ukraine. A secondary aim would be to actualize the information regarding the use of blockchain technology in the aquaculture sector. Results. This research shows that Ukraine’s aquacultural sector is going through a crisis, which is being induced by the high level of corruption and poaching. The digitization of the aquaculture supply chain powered by blockchain technology has been proposed. The role of blockchain technologies is revealed through functions such as evidence, tamper-proof, transparency, and decentralization. It was investigated the positive impact of blockchain technology on aquaculture business, such as reduction in bureaucracy, quality assurance, improvement in information exchange, low cost of transactions, improvement in audit performance, easy recall process, product origin verification, and low probability of fraudulent activity. It would greatly reduce the time needed to gather all the documentation essential for work and reporting. The blockchain implementation roadmap has been developed, including the following stages: concept, legislation compliance, limited prototype, final vision, further research and optimization. Conclusions. Blockchain technology fits Ukraine’s economic goals in the long term perspective, such as continued digitalization of the country. Due to the blockchain technology, products of aquaculture would not enter the market unless registered in the unified system. That will influence the reduction of "informal economy" in the sector and the increase of market mechanisms. It will also have a positive influence on food security for the population and economic security for the producers. It will be a precedent for a fully transparent and digitalized field of economy.

Jiahao Zhang, Jingyi Li, Duoduo Ye, Chuanqing Sun

To reduce the carbon emission intensity of resource-based cities and strengthen the sustainable development of these cities, firstly, blockchain technology is analyzed. Secondly, the development of the digital economy is discussed in digital resource-based cities. Finally, according to blockchain technology, a model of carbon emissions trading in the digital economy is designed, and the specific impact of the digital economy on carbon emissions trading is studied according to the model. The research results show that the mean value of the development index of the digital economy (digital) is −0.0168, the maximum value is 4.2560, the minimum value is −1.3429, and the standard deviation is 0.9572, indicating that the quality of digital economy development varies greatly among different regions. And according to the results of the digital model, it is found that the regression coefficient of the variable digital is significantly negative at the 1% level, showing that the digital economy will obviously suppress the carbon emission intensity of cities. After replacing the explained variables, the coefficient of the digital economy is still significantly negative. It indicates that the development of the digital economy can effectively suppress the carbon emission intensity of urban. Therefore, the designed model of carbon emissions trading under the blockchain technology can not only provide a secure platform for carbon emissions trading but also provide more comprehensive trading reference information for carbon emissions trading. It provides technical support for reducing the carbon emission intensity of resource-based cities and also contributes to the development of resource-based cities.

Shanshan Jiang, Truls Bakkejord Ræder

Blockchain is an emerging disruptive technology with a great potential to impact business value creation. Yet it is challenging to understand how blockchain can be utilised to improve enterprises’ performance and value creation. A formalised conceptual and enterprise modelling may help bridge the communication gap between domain experts and blockchain system designers. The goal of this study is to explore how can modelling facilitate blockchain-enhanced value chain design from a motivation viewpoint. We report our experience from modelling a blockchain-enhanced seafood supply chain using ArchiMate motivation and strategy models, where stakeholders have diverse concerns and goals. Preliminary results have indicated that such a modelling approach facilitates the common understanding, and the decision and prioritisation of the business strategies, as well as the identification of the blockchain benefits for the enterprises. It may help stakeholders along the value chain to align their business strategies and priorities, and can be an effective tool for value co-creation and enhancing the collaboration and communication among stakeholders and with blockchain application developers.

BABAYEV HIKMAT, NURULLAYEV JAVIDAN, GARAYEVA VAFA

Cryptocurrencies are a new technology that has given impetus to the modernization of the entire economy. Already, a huge number of people use cryptocoins for payment, participate in their production and earn on market volatility.To date, cryptocurrencies are at the stage of formation and improved versions are released annually, which try to eliminate the shortcomings in the technology. But it is already obvious to many experts that cryptocurrencies are the money of the future with great potential for development.