In today's environment modern economic technologies are rapidly developing. This process and its impact on the financial system as a whole requires all the details effective consideration. Given that cryptocurrencies are highly dynamic in the market, the article proposes prospects for further use of the new currency. Accordingly, the purpose of the research was to provide a comprehensive analysis of cryptocurrencies as digital currencies in the Ukrainian economic market, trends, and prospects for their introduction. In the article such methods as special scientific methods (methods of collecting information, methods of processing information, methods of conducting analytical work) and general scientific methods (analysis, synthesis and generalization) were used. It allowed carrying out a complex study based on the principles of systematicity, scientificity and specificity. Search engines revealed more than 70 works on the issue of cryptocurrencies. In the course of the study, 40 in-depth studies from 2019 to 2023 were selected. The results provided a strategy for the impact and transformation of cryptocurrencies on the reform of the economic sector in general. It has been established that the introduction of cryptocurrency into the Ukrainian economy will facilitate the digitalisation of the economy. Based on the analysis of market denominations, crypto-exchanges and cryptocurrencies in the world are aimed at people, management, savings, and services. The research analysed the concept of the content of “cryptocurrency”, its features, advantages and disadvantages, and the relationship with the economic world. The international cryptocurrency market, the general state, development factors, and dynamics of adaptation in Ukraine were studied. The main conclusions were reflected in a comprehensive study of cryptocurrencies and their rapid growth as major technological innovations in the global and Ukrainian economy.
Purpose. The purpose is to reveal the theoretical and practical aspects of the implementation and application of blockchain technology in the economic activity of agricultural enterprises, taking into account the economic feasibility of their implementation and determining the system of elements of the implementation of blockchain technology in agriculture. Methodology / approach. The following methods were used during the research: analysis and synthesis, scientific abstraction – when determining the goal and formulating research conclusions; comparative, calculation, statistical and graphic – when evaluating, analyzing, comparing and determining the current state of implementation of blockchain technology in the economic activity of agricultural enterprises. The method of surveying agricultural producers regarding their awareness of blockchain technology and the benefits of its application was also used. The research used: a theoretical approach (based on the analysis of theoretical aspects of blockchain technology and its application in agriculture) and a practical approach (on the basis of the proposed methodology, the economic feasibility of using blockchain technology in the economic activity of an agricultural enterprise was determined). Results. The main areas of influence of blockchain technology in agriculture have been determined. It has been established that every year the amount of funding for the implementation of blockchain technology is increasing, and the reasons are identified. The world experience of implementing blockchain technology in the economic activity of agricultural producers is considered. The results of a survey of agricultural producers of the Mykolaiv and Kirovohrad regions regarding their awareness of blockchain technology and the benefits of its implementation are highlighted. The objective reasons that affect the implementation of blockchain technology in agricultural production are determined and ways of its popularization are proposed. An action algorithm for the introduction of blockchain technology for agricultural producers has been developed. Agricultural producers who are potentially ready and financially able to implement this technology in their activities have been identified. The main factors affecting the cost of implementing blockchain technology in agricultural production have been identified. A methodology for calculating the economic feasibility of implementing blockchain technology according to optimistic and pessimistic options is proposed, and the calculation of the net present value, payback period, discounted payback period of the project, internal rate of return and the rate of return on the example of a specific enterprise of the Mykolaiv region is carried out. Based on theoretical and practical approaches, a system of elements for implementing this technology in agriculture has been developed. Originality / scientific novelty. The novelty consists in the implementation of a comprehensive theoretical study of the problems and prospects of the implementation of blockchain technology in agriculture; for the first time, a system of elements for the implementation of blockchain technology in agriculture was developed; an algorithm of actions for agricultural enterprises that plan to implement this technology was improved; a methodology for calculating the economic feasibility of implementing blockchain technology in an agricultural enterprise was proposed. Practical value / significance. The results can be used in the process of decision-making by business entities regarding the implementation of blockchain technology and the calculation of its economic feasibility, during the optimization of the processes of management of production, financing, supply chains, etc., as well as by scientists, government bodies and other entities that are interested in implementation of blockchain technology in agriculture.
In recent years, the cryptocurrency industry has been developing rapidly, creating new opportunities and challenges for investors, entrepreneurs, and policymakers. Ukraine has become a promising destination for investment in cryptocurrencies and blockchain development due to its favorable business environment, highly educated workforce, and growing technology sector. Organizational and economic support for the development of foreign trade activities of Ukrainian businesses in the context of the cryptocurrency industry includes a thorough analysis and development of strategies to use these opportunities.In this article, we have considered some promising areas for the development of the cryptocurrency industry in Ukraine using general scientific and special methods of scientific knowledge, such as analytical methods, comparative analysis, methods of comparison, and generalization. From the potential of blockchain-based e-government services to the possibilities of mining and trading cryptocurrencies, the article examines the country's strengths and opportunities in this area and identifies ways to use them for future growth.To this end, the author analyzes the legal framework, the state and degree of development of the blockchain, the peculiarities and pace of mining, the degree of acceptance of cryptocurrencies in society, and the state and peculiarities of the development of cryptocurrency exchanges. Understanding the potential of the cryptocurrency industry in Ukraine, we believe that the strategic directions for promoting economic growth and technological innovation in the country are: a clear regulatory framework, a skilled workforce, abundant energy resources, and a growing number of cryptocurrency changes.These elements of organizational and economic support will help Ukrainian businesses to develop their foreign trade activities in the context of the growing influence of the cryptocurrency sphere, providing greater opportunities for investment and trade, as well as promoting the introduction of innovative technologies and increasing international competitiveness.
The purpose of the article is to study the Ukrainian experience of financial and legal regulation of the cryptocurrency market. During the analysis, the role and significance of cryptocurrencies in the modern world was characterized. Models for countries around the world are built on the basis of the level of adoption of cryptocurrencies in the context of national policy. The meaning and characteristics of cryptocurrencies are revealed. Attention is focused on the problems of forming regulatory and normative needs in Ukrainian legislation. Systematized principles of legal support for taxation of transactions with cryptocurrency and prevention of the use of cryptocurrency for the purpose of legalizing income (money laundering). The trends of threats of cybercriminal content in cryptocurrency transactions are summarized and the main provisions of the government's plan to resolve the situation with cryptocurrency for 2023‒2024 are defined. Ways to improve the legal support of the cryptocurrency industry in Ukraine are outlined. The reasons and significance of the popularization of cryptocurrencies in Ukraine are determined. In particular, it was determined that one of the main elements of financial support for the circulation of cryptocurrencies is the legal framework that regulates the interaction between the participants of the cryptocurrency market. Legislation should define rules and norms of conduct, requirements for security and confidentiality of personal data, liability for violations of rules and other aspects of cryptocurrency circulation. Planned ways of further development of the Ukrainian crypto industry and improvement of its regulatory and legal regulation. It is substantiated that the financial and legal support of cryptocurrency circulation should include mechanisms for the protection of consumer rights, such as mechanisms for insurance, dispute resolution, and conflict resolution between market participants. Such mechanisms can help ensure interaction between market participants, increase the level of trust and ensure market stability.
Topicality. The events of November 2022 showed the absolute instability of Ukraine's centralized energy system. Up to 40% of the centralized energy infrastructure was disabled in two days. Millions of people were left without electricity, heat and water for a long time. Therefore, it is very important to develop the energy sector of the state in the future, taking into account the needs of Ukraine's decentralization policy, in particular, local communitiesAim and tasks. The purpose of the research is to determine the imperatives of decentralization of the energy sector of Ukraine. The main way of developing the energy system of the state is the transition from a centralized to a distributed system. The location of generation systems in united communities makes it possible to switch to systems of cogeneration of electric and thermal energy to increase the efficiency of installed capacities and save fuel significantly by up to 40%.Materials and Methods. The methodological basis for the formation of regional policy should become the best of the world and European practices of the country`s energy sector development. Active use of the methods of system analysis, expert assessment on the implementation of decentralization systems of the energy industry is a guarantee of achieving the priorities of national security of Ukraine in the post-war period. Priority support from the EU and others international donors refers to those projects and programs aimed at decentralization, decarbonization, local economic sustainability and energy independence.Research results. The research substantiates that local communities have great opportunities for using alternative renewable resources for the generation of electricity and thermal energy. First of all, it is biomass, biogas, solar energy, wind energy and geothermal energy. In particular, the authors proved that due to the installation of means of electric energy accumulation, it is possible to raise the level of use of the installed capacities of solar and wind power plants by another 50% and to bring the total level of use of the installed energy capacities to 70%.Conclusions. The active implementation of alternative energy sources into economic practice can become the basis of the national security of the state in the post-war period. It is suggested that Communities use nearby agricultural waste and solid household waste as fuel instead of imported fossil fuel. It is also proposed to create local electric networks combined into virtual power plants within the framework of united communities, including not only all types of generation available on the territory, but also systems of short-term and long-term storage of electric energy. For the long-term storage of large amounts of electrical energy, it is suggested to use accumulators based on cryogenic liquids. It has been proven that due to the installation of means of electric energy accumulation, it is possible to raise the level of use of the installed capacities of solar and wind power plants by another 50% and to bring the total level of use of the installed energy capacities to 70%. Virtual power plants make it possible to significantly increase the amount of generated (consumed) electricity without additional investment costs. Such technologies meet the requirements of the European Union for candidate countries to join the Union and open the possibility of financing projects related to the restoration of the energy system of Ukraine based on renewable sources and advanced energy-efficient technologies.
Purpose: One of the doctrines of New Public Management is increased efficiency and consumer satisfaction in local government. Implementing new technologies like digital administration and blockchain could be very helpful in achieving this objective. The article focuses on the usability of e-government as a management tool and the possibility of implementing blockchain technology in local government accounting. This re-search attempts to answer the following research question: What are local government employees’ perceptions of e-governance and blockchain technology? Methodology/approach: A survey was used as a research tool to determine the role of digital administration and blockchain technology in local government units at the community level. A questionnaire was emailed to all municipalities in Poland: rural, urban and urban-rural. Findings: The results of the research show that, in the respondents’ opinion, the use of e-governance in local government is very helpful in management. However, the use of blockchain technology in local government accounting is debatable. Research limitation/implications: This paper will be useful to academics and practitioners to enable an understanding of the problems associated with introducing and using new technologies in local government. The limitation of the research is that blockchain technology is new and, unfortunately, there are very few examples of its implementation by local governments in Poland. Therefore, it is difficult to assess the positive and effective implementation of blockchain technology by local governments. The article shows the point of view of local government officials, which is also a limitation of our research. Originality/value: The article makes an important contribution to the research on the use of new technologies in local government units. The research has made it possible to assess e-government as a tool for managing local government units and to present officials’ attitudes to the possibility of using blockchain technology in local government accounting.
The economic essence of cryptocurrencies and digital technologies were substantiated in the article. Also the article defines their role and significance in global economic processes. It has been established that the reason for the rapid growth in the popularity of cryptocurrencies lies in their advantages over traditional money, in particular, in decentralization, speed and ease of transactions, a high level of security through the use of cryptographic technologies, etc. At the same time, it has been established that the use of cryptocurrencies poses threats associated with the risk of stability of the global financial and economic system, significant volatility in the value of cryptocurrencies, the uncertainty of their legal status, insufficient controllability of transactions, etc. It is substantiated that the widespread use of cryptocurrencies in business processes and their use as an investment object requires proper legal regulation of operations with digital assets. The current state of the regulatory framework for the circulation of cryptocurrency and approaches to its recognition as an object of accounting in accordance with the Generally Accepted Accounting Principles (GAAP) and International Accounting Standards (IAS) are analyzed. It has been established that the enterprises, when recognizing cryptocurrency as an object of accounting, assessing its value and subsequently displaying information in the system of accounting accounts and financial statements, are guided by various accounting standards that are currently available, and therefore there are threats of inconsistencies or distortions of information about the financial condition of the enterprise, its liquidity and solvency, net asset value, etc. To solve this problem, the expediency of developing the special accounting standards by the regulatory authorities that define the generally accepted methodological foundations for displaying information about cryptocurrencies in the accounting system of enterprises is substantiated. Taking into account the specific properties and characteristics of cryptocurrencies, it is recommended to introduce a separate category of assets for cryptocurrencies and disclose information about them in the company’s balance sheet before the item «Cash and its equivalents» in order to maintain the order of liquidity of asset allocation.
The rapid spread of cryptocurrencies is one of the most relevant trends today. One of the significant risks of their spread is the increase in energy consumption, which has a negative impact on the environment due to carbon emissions. This requires the development of a scientific toolkit for assessing relationships and predicting the impact of cryptocurrencies on energy consumption, which is the aim of this paper.With the correlational regression analysis, the model of the dependence of spending on IT sector, energy consumption of Bitcoin, Ethereum and global capitalization of the cryptocurrency market was conducted, based on statistical data from Statista.com, Сoinmarketcap.com and International Data Corporation. To check the possible relationship, tests for the adequacy of the results obtained (Fisher’s test, Student’s t-test) confirmed the correctness of coefficients for independent variables.The results showed a significant direct correlation (Multiple R is 95%) of spending on IT sector, energy consumption and global capitalization of the cryptocurrency market. The established relationships allowed predicting that Bitcoin energy consumption may reach 142 Terawatt hours per year in 2026. And its impact on environment by mining in 2022 was at least 27.4 Mt of CO2 emission.As a proposal, a conclusion was made on the expediency of linking mining to the use of certain sources of electricity production, such as “residual” natural gas, nuclear power, renewable energy sources. The obtained results and conclusions may be used as a basis for political decisions in the field of energy efficiency and climate change mitigation.
The following research is aimed at individuals tangentially involved with digital or virtual currencies, who are increasingly facing questions about how to declare income derived from trading these financial instruments. The purpose of the research is to present the tax treatment of transactions with cryptocurrencies in the part related to the taxation of the income of legal entities and individuals obtained from the activity of trading with virtual currencies according to the legislation of the Republic of Moldova, as well as the practice followed in other countries. The issue of taxation of these types of income is a current one both at the level of the legislation of the Republic of Moldova and at an international level, given the fact of abundant flooding of the world economy with an enormously large number of cryptocurrencies without which today the financial-banking system would look like a quaint one. It is worth mentioning that the clarity of the tax legislation regarding the taxation of new types of income, or the synchronous advancement of the tax legislation with the up-to-date needs of the taxpayers is a priority both for the institutions that collect the sources of the state budget, as well as the income payers. In other words, increasing the clarity of the tax legislation and the tendency to align with international standards and practices ensure greater efficiency in the successful administration of state revenues and an upward growth in the number of compliant taxpayers. At the same time, this research aims to examine the causal link between the harmonization of legislation to the needs of the market with the level of compliance of taxpayers and receipts to the state budget. The scientific methods used in the study are as follows: analysis of the legal framework governing the research, synthesis of information, comparison to identify distinctive features, deduction of challenges.
Propelled by the socio-economic disturbances and the COVID-19 pandemic, advanced technologies such as artificial intelligence (AI), Internet of Things (IoT), robotics, and Web3, which are characteristic of the Fourth Industrial Revolution (FIR), have gained significant ground globally, including the developing countries. As organizations face the array of opportunities and challenges of adopting these technologies, human resource (HR) professionals are tasked with trailblazing the digital transformation of workplaces. Yet, a gap in scientific research regarding the preparedness of HR professionals for this task exists, especially in developing countries like North Macedonia. With this research, the authors aim at addressing this gap and exploring the impact of FIR-related technologies on Macedonian workplaces, employees, their skills, and jobs, as well as, the level of readiness of HR professionals to step up in line with these advanced technologies. The authors build upon a review of the existing literature and use a quantitative online survey distributed to a selected group of HR professionals, operating on the territory of North Macedonia. The findings will contribute to a better understanding of the preparedness of HR professionals to steer organizations in the direction of working in the new era of automation and digital transformation.
The development of cryptocurrencies by banking institutions operating in the online environment provides for the purchase and sale of cryptocurrencies on stock exchanges, not on crypto exchanges, allowing the use of cryptocurrencies as a means of payment and investment. The aim of the article is to determine the impact of cryptocurrency on the investment market based on the analysis of key environmental factors that affect the correlation of these variables. The issue of cryptocurrency by banking institutions also ensures its stability, thus expanding the investment potential of this financial instrument. The above contributes to the formation of the cryptocurrency investment market in the structure of the stock market.The development of cryptocurrencies of banking institutions operating in the online environment, provides the purchase and sale of cryptocurrencies on stock exchanges, and not on crypto exchanges, allowing the use of cryptocurrencies as a means of payment and investment. Among the factors that indicate the negative impact of cryptocurrency on the investment market are the following: the lack of a stable value of cryptocurrency and its volatility, dependence on fluctuations in the world economy and macroeconomic factors, in particular demand; as a result of the first factor, cryptocurrency as an object of investment activity is quite risky. Further research should be devoted to the issues of central bank digital currencies and their potential impact on competition in the market of private digital currencies based on blockchain technology.
The article considers blockchain technology, which is one of the types of distributed ledger technology and currently has real prospects for application in the medical field, in particular for managing data arrays in clinical trials. The essence of the currently existing discussion among medical managers and other employees on the feasibility of introducing blockchain technology into clinical trials is revealed. To address this issue, the authors carried out a thorough analysis of the social and economic aspects of the application of blockchain technology in clinical trial data management. As a result of the analysis of a large number of scientific publications, social effects of the use of blockchain technology in the management of clinical trial data have been established and systematized. The article proves that the social effect of using blockchain technology in the management of clinical trial data is certainly significant. This factor clearly indicates the need to use this technology in the practice of clinical trials. The authors argue that it is important for a contractual research organization, pharmaceutical company, healthcare institution or other entity in which a clinical trial is performed to take into account the economic component of using blockchain technology to manage data sets in the process of performing clinical trials. Therefore, for the final decision on the adoption of blockchain technology in the management of clinical trial data, the article also considers the approach to taking into account the economic aspect. To determine the economic effect of the introduction of blockchain technology, an appropriate calculation method has been proposed. According to this methodology, the effect of the application of blockchain technology depends on: the proportion of conflicting disease and treatment records (drug studies) that require reconciliation; percentage reduction in the cost of issuing one conditional entry in the patient's medical card. It is indicated that the predictive assessment of the effect for a medical institution depends on a specific blockchain solution. The conditional example in the article shows the expediency of applying the proposed methodology for determining the economic effect of using blockchain technology in the management of clinical trial data.
Motivation: So far, nothing has been known about the impact of the war in Ukraine on the dynamics of cryptocurrency markets, in particular on the intraday trading patterns in Bitcoin, nowadays the largest market capitalization and trading volume cryptocurrency.Aim: Use the data from the period January–April 2022 exhibiting over 1.5 million trades at Bitstamp, one out of four largest in trading volume Bitcoin markets, to identify and compare the day of the week and the hour of the day effects in the rate of return, bid-ask spread and trading volume at times preceding and following the war outbreak.Results: The analysis based on the regression including dummy variables showed that the bid-ask spread and trading volume exhibited both the day of the week and the hour of the day effects. The same applied to the rate of return — but only incidentally. The effects differed in the magnitude across the peace and war periods being mostly smaller in the latter one due to increased risk faced by market participants who, as reflected in the number of trades and trading volume, lowered their activity. Since Bitcoin at Bitstamp is traded 24 hours a day and 7 days a week and incoming information is continuously impounded into its prices, the intraday trading patterns are different from those at the mature and emerging stock markets. The wider spreads and larger trading volumes were found present close to open of the major stock markets (NYSE, NASDAQ, London, Frankfurt, Tokyo).
Today, the main threat to the security of the country in general and its regions and territorial communities in particular is still the armed aggression of the Russian Federation. This requires the concentration of efforts of state and local authorities, military administrations in this direction. Despite all the problems caused by the war, local self-government bodies respond to unforeseen challenges in a timely manner, ensuring the restoration of destroyed objects, providing services to the population, creating jobs for internally displaced persons, attracting investments, etc. The Law of Ukraine “On the Legal Regime of Martial Law” defined the modes of functioning of local self-government bodies and their interaction with military administrations. During the war, military administrations perform the powers of local state administrations and, partially, local self-government bodies, defined by current legislation.The article analyzes the main measures to protect the population from possible emergency situations at the level of territorial communities. It is noted that local authorities are making efforts to restore destroyed housing, schools, kindergartens, hospitals, critical infrastructure facilities, etc. In the conditions of war, decentralization makes it possible to strengthen the potential of territorial communities, to strengthen the initiative of citizens in solving issues of social and economic development. On this path, the State Fund for Regional Development, international partnership between communities, new subventions, and additional sources of income for local budgets demonstrated their success. The article emphasizes that communities have shown their ability to effectively increase and manage the received financial resources. Despite this, the funds received from international donors and grants for the reconstruction of destroyed objects should be partially used to finance the country’s reconstruction projects.
The article examines the procedure for accounting transactions with cryptocurrency as a special type of asset. Circulation of cryptocurrency in Ukraine currently does not have proper legislative regulation, and the Law of Ukraine "On Virtual Assets" adopted in 2022 has not yet entered into force. There is no proper legal provision for accounting and taxation of transactions with cryptocurrency carried out by business entities taking into account the advantages of using a decentralized means of circulation. Solving the issue of proper accounting of cryptocurrency and operations with it will contribute to the unshadowing the economy and the receipt of taxes to the state budget. It has been established that cryptocurrency can exhibit characteristics of goods, cash and their equivalents, financial instruments, investment real estate, intangible assets, shares, etc. With this in mind, the article analyzes permissible options for classifying cryptocurrency and operations with it to specific classes of accounting accounts based on international and national accounting regulations (standards). The European practice of accounting for operations with cryptoassets is analyzed, which is based on two options for accounting for cryptocurrencies: as an intangible asset or as stocks. It was concluded that in the absence of a single methodical approach to the issues of proper accounting of cryptocurrency and operations with it, it is necessary to use international accounting standards and recommendations for accounting of cryptocurrency developed on their basis as an intangible assets (if it is held for sale in the everyday economic activity) or stocks (if held for the purpose of obtaining an investment profit from resale). The purpose of its use by the business entity should be the basis for selecting the recommended accounting options for cryptocurrency as a virtual asset.
Background: An investigation was conducted into the 2020 campaign to declare the incomes of civil servants in Ukraine. On June 23, 2022, the country became a candidate for full accession to the European Union, subject to increased efforts to combat corruption. During the study period, it was found that 652 Ukrainian officials declared 46,351 bitcoins, which as of 04/01/2021 was the equivalent of 2 billion 564 million US dollars or 2 billion 348 million euros. Against this background, the existing anti-corruption legislation and the state anti-corruption apparatus are characterised . Methods: To achieve objective scientific results, the author used methods such as analysis and synthesis to understand and build a logical chain of ideas. The author used the statistical method to emphasise their positions with real data regarding the situation that developed in practice. Results and Conclusions: The study revealed a potential threat of money laundering by civil servants through the declaration of cryptocurrencies before their legalisation, against the background of a complete absence or imperfection of current laws. It was established that this factor was the most acute form on the evening of the planned state legalisation of cryptocurrencies. This highlights the need for states to take preventive measures to eliminate such risks before legalising cryptocurrencies and preventing “silent amnesties” regarding illegal capital transferred to cryptocurrencies or to “whitewash” future illegal proceeds in advance through the declaration of non-existent cryptocurrency.
Blockchain technology is known as one of the most transformative technologies of recent years, revolutionizing digital transactions and data storage. Originally developed as the underlying technology for Bitcoin, blockchain has since found numerous applications beyond cryptocurrencies, such as in supply chain management, identity verification, and smart contracts. In the digital economy, blockchain has the potential to significantly impact a wide range of industries and business models, from finance to healthcare and e-commerce. Blockchain issues have been developed by researchers who have focused on blockchain as the latest digital technology capable cause profound changes in society and are, to some extent, debatable. In particular, the work examines how blockchain and decentralized platforms have the potential to be powerful tools for managing large-scale social interactions and disrupting traditional power structures. However, it also cautions that the dominance of private interests within these distributed ecosystems could lead to the emergence of a stateless global society, posing significant risks. The purpose of the work is to explore the potential applications and impacts of blockchain technology in the digital economy, and to identify the opportunities and challenges that arise from the adoption of this technology in various sectors such as finance, healthcare, supply chain management, and intellectual property. Additionally, the work aims to provide insights into the role of blockchain technology in promoting digital transformation and innovation, and to assess the potential benefits and risks associated with the use of this technology in the context of the digital economy. It has been established that the use of blockchain in intellectual property can change the way creative works are protected, managed and monetized. It found that blockchain technology can be used to provide secure and transparent ownership records, automate licensing and royalty payments, and facilitate the identification of infringing uses. The main problems and limitations created by the use of blockchain technology are systematized: scalability, compatibility and regulatory regulation. As the technology continues to develop and evolve, it is imperative that these challenges are addressed in order to realize the full potential of blockchain. We believe that while blockchain technology is still in its early stages of development, it has the potential to transform various industries by providing secure, transparent and efficient data management solutions.
Hanna Yarovenko, Agnieszka Łopatka, Tetyana Vasilyeva, Imre Vida
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The article analyzes challenges and prospects of development of business activity of territorial communities (hereinafter – TC) in terms of decentralization. Particular attention is paid to the extension of the opportunities for entrepreneurs due to the establishment of TC and in the context of implementation of the European Green Deal. The principal powers concerning support of economic development, solving environmental problems and supply of social services on the territory are delegated to the local bodies. It is a positive aspect, but it requires improvement of human resources of the local governmental bodies to secure efficient use of the provided opportunities. The research substantiates directions of business activation in TC, particularly creation of favorable environment for enterprises development at the state level, supply of broader access to financing for small and medium-size enterprises, simplification of tax administrating for small and medium-size enterprises, promotion of business culture and development of business skills and sustainable thinking, support for internationalization and greening of small and medium-size business, improvement of competitive capacity and innovative potential of enterprises. The work suggests a model of efficient management of business activity of territorial communities. The authors define the principal criteria for setting local taxes and charges at the level of community. The research also marks the problems that have a negative impact on business development of TC, particularly, restraints for business running, development of local infrastructure, and employment of population. The article specifies the reasons and factors of the obstacles appearance and proposes the ways for them overcoming.
The article is devoted to the study of the basics of the development companies' integration into the virtual assets market as a component of their economic potential growth in the context of the digital transformation of Ukraine. The article proves the role of development companies in the digitization development of the construction industry of Ukraine. The current state of Ukrainian legislation regarding digitization and the virtual assets market was considered, the analysis of which allowed to single out the virtual assets’ application areas in the operational activities of development companies, in particular, investment activities and marketing communications. The application areas of secured virtual assets are defined and the concepts of construction products tokenization are considered. The issue of entering smart contracts by the development company on Blockchain technology using secured virtual assets was investigated. Particular attention is paid to the construction of the development company metauniverse with a hierarchical structure in the form of non-fungible tokens (NFTs) sets of different levels. The relationship between the growth of the development project metauniverses and the implementation of BIM technologies in the design of real estate objects is proven. A universal concept of metauniverse construction of development company that implements residential construction projects has been developed. With the help of artificial intelligence technologies, conceptual views of non-fungible tokens at the level of the development company, development project (housing complex), individual multi-story residential buildings, individual apartments in these buildings, as well as individual stages of real estate development have been created. The main features of the created tokens are described concerning the corresponding characteristics of particular real estate objects. A scheme for integrating the real estate development process into the virtual asset market has been developed concerning the stages of the real estate object's life cycle. The prospects for the growth of development projects metauniverses after the introduction of "real" real estate objects into operation are determined, in particular, through the introduction of PTE technologies.