The appearance of cryptocurrency has become a high-profile event, around which disputes still persist. Some see it as a direct threat to the security of national economy, some as a long-awaited triumph of market principles of self-regulation. The necessity, expediency and the most effective model of regulating the cryptocurrency market are burning issues. The relevance of these issues in the context of Russian reality is proved at least by the fact that Russia is one of the leading countries in the use of digital currency, and the number of crypto wallets opened by Russians has exceeded 8 million. The aim of this article is to review the currently existing opinions and accumulated experience in solving the problem of regulating the digital currency market.
В статье приводятся архитектурные и технические решения, принятые в ходе исследовательского проекта по разработке метаграфовой СУБД с групповым подтверждением вносимых данных. Для этой СУБД рассмотрены различные варианты реализации метаграфовой модели, выбран реляционный подход и предложена даталогическая модель, состоящая из шести таблиц. В качестве среды хранения выбрана PostgreSQL. Приведены оценки сложности и обзор возможных ограничений реализации физической модели хранения метаграфа на программном уровне, выбрано решение на основе списков смежности. Для обеспечения высокой скорости доступа на чтение используется распределенное хранение и распространение копий базы данных на основе технологии блокчейн с алгоритмом консенсуса Proof of Stake, что позволяет обеспечить высокий уровень защиты базы данных от несанкционированных изменений. Предложены структуры данных для хранения изменений БД в рамках последовательности записей блокчейн. Выбран стойкий алгоритм проверки и подписания транзакции. В заключении рассмотрены направления дальнейших исследований и условия использования результатов исследования при проектировании и разработке индустриальных программных продуктов. The article provides architectural and technical solutions adopted within a research project to develop a metagraph DBMS with a group confirmation of the entered data. For this DBMS, various options for implementing the metagraph model are considered, a relational approach is chosen, and a logical data model consisting of six tables is proposed. PostgreSQL was chosen as the storage environment. Estimates of the complexity and an overview of possible limitations of the implementation of the physical model of storing the metagraph at the software level are given; a solution based on adjacency lists is chosen. To ensure high speed of read access, distributed storage and distribution of database copies based on blockchain technology with the Proof of Stake consensus algorithm is used, which ensures a high level of database protection against unauthorized changes. Data structures are proposed for storing database changes within a sequence of blockchain records. A robust algorithm for verifying and signing the transaction has been selected. In conclusion, the directions of further research and the conditions for using the research results in the design and development of industrial software products are considered.
The modern world is changing rapidly. Digitalization is becoming more and more important and penetrates into all spheres of society. The digital transformation of financial and monetary processes and systems deserves special attention. It is important to determine the place and role of the state in the regulation of these processes. This paper examines the current state and prospects of using cryptocurrency as an element of monetary circulation. Analysis of the dynamics of the bitcoin rate showed that the use of cryptocurrencies is promising. However, it is necessary to improve the regulatory framework. The introduction and use of the national cryptocurrency in Russia will stabilize the state of the financial system in relation to the dollar, ensure the safety of economic development and reduce transaction costs.
Open access
Economic and Technological Developments in Russia
Economic and Technological Systems Analysis
Economic, Social, and Public Health Issues in Russia and Globally
We study the process of creating and testing models of programs in the Solidity language (smart-contracts) for the ScientificCoin crowdfunding platform. This platform is an Internet portal for investing in high-tech projects using blockchain technology. We examine the security of the blockchain-based method of conducting money transactions implemented on this platform and the approach to test and to verify used program code. We analyze the tools and algorithms which allow us to formalize the life cycle of the code in the blockchain system. An example of creating a smart-contract model and the way of checking the feasibility of its functional properties and the truth of invariants using the SMT solver are considered.
The expatiation of increase in demand variations in today?s globalized supply chain economy is disruptive, costly which is every supply chain management wants to reduce. The traditional supply chain management system?s attribute to high complex centralized organizational structures, increased costs throughout Supply Chain, Poor system design; need for improved speed, quality and service. The speed, expenditure and levels of security employed in traditional supply chain management model depends on few hands in the organizational committee. Hence, this dynamic behaviour of customers indicates the need for a secure, decentralized and a trusted environment to function with. Decentralization improves the performance of Supply Chain in its way of distributing its decisions on financial aspects. The most erupting technology - Blockchain provides an efficient and viable solutions to the aforementioned hurdles that are restricting today?s supply chain. Through blockchain, massive networks of decentralized autonomous individuals and organizations can grow and operate seamlessly within a decentralized, distributed operating platform. The problems that arise in blockchain can be like ? changing fair data to malicious data that is collected from web pages, Synchronization of information and data in the network, disruption to services etc. In this paper an efficient top-down method is employed for testing various participating entities and modules in this Supply Chain Model. An in-depth analysis for the root-cause of different kinds of threats, vulnerabilities and risks is conducted on the supply chain management system as simulated in various environments.
В статье рассматриваются текущее состояние отрасли обращения с отходами в Санкт-Петербурге, расходы бюджета в данной индустрии, определен дефицит бюджетных средств на реализацию проектов в этой сфере и обозначены современные инструменты финансового стимулирования: государственно-частное партнерство и децентрализованные финансы на базе технологии блокчейн (DeFi), вт.ч. краудфандинг. The article considers the current state of the waste management in St. Petersburg, the budget expenditures in this industry, the deficit of budgetary funds for the realization of waste management projects was determined and modern instruments of financial incentives were identified: public-private partnerships and decentralized finance based on blockchain technology (DeFi), incl. crowdfunding.
Trends in the development of the modern digital economy have determined the practical digital transformation of all aspects of human activity, including both production and social spheres. Currently, technologies are dynamically developing and under their influence; the volume of received, transmitted and stored information is constantly increasing. Accordingly, demand for Big Data technology is growing, since it allows you to work with large amounts of data, which determines the growing popularity of blockchain technology. This article presents a model of the workings of blockchain technology in an educational organization and the procedures for its use. It also highlights several directions for the development of educational institutions and processes that are based on the use of blockchain technology. These include confirmation of the authenticity of documentation, accreditation of an educational organization, confirmation of intellectual property and identification of students. In addition, the article discusses the problem of the attitude of the academic community towards blockchain technologies, which can significantly reduce the intensity of implementation. This paper presents a study of why professionals in the educational field are afraid of a significant digitalization in education. Thus, a balanced approach is the optimal strategy for introducing blockchain technologies into educational processes.
The purpose of the study is to analyze the capabilities of blockchain technology as a tool for enhancing the security in management and protection of intellectual property rights in additive manufacturing. The study is research-oriented and is an introduction to the use of blockchain technology for intellectual property protection. The following methods are used in the study: the analysis of documents on the use of blockchain technology in industrial asset management and the protection of content creators' rights, as well as the expert survey to assess the reliability of the selected sources. The authors introduce the term blockchain and discuss the capabilities of this technology for intellectual property protection in the field of design and production. A digital platform is proposed to enable the file exchange. Moreover, the authors describe the three main steps for developing a digital platform based on blockchain technology: the development of specialized tokens to reward users, the definition of conditions that should be included in smart contracts and the size of awards and incentives for each interested party that gains access to the platform.
The issues of design and operation of the infrastructure for recycling solid municipal waste in terms of software and information support are discussed, structures and descriptions of their components are presented. Attention is paid to the interaction with a distributed ledger, built on the basis of blockchain technology, as with an environment for registering events in the life cycle of a design object.
This article discusses the blockchain technology and a relatively new phenomenon in the field of this technology — NFT (non-fungible tokens). The paper analyzes the growth prospects and current shortcomings of the concept. The phenomenon of NFT, which is still not well described in scientific publications, is considered in this article from a technological point of view. Based on the results of the market analysis, the authors suggest continuing the development of the blockchain and strengthening its security, as well as conducting further research in this area.
Economic and Technological Developments in Russia
Economic and Technological Systems Analysis
Economic, Social, and Public Health Issues in Russia and Globally
Vladimir Evsin, Svetlana Shirobokova, S. P. Vorobyev
The paper proposes a technique for the mathematical description of a distributed ledger in industrial applications as a queuing system. A conceptual model of an industrial distributed ledger is represented, determining the main structural elements of the distributed ledger topology such as network nodes, distributed ledger nodes, and distributed ledger services to verify transactions. The distribution functions of random variables typical of this process are determined and represented. The approximation of the tickets distribution via the Erlang arrivals is performed to obtain the most accurate value. The conditions for building the infinitesimal matrix are determined considering the specifics of information processes in the distributed ledger. Normalization conditions are formed. The main integral characteristic exponents required to analyze a distributed ledger as a queuing system are given. To determine the main integral characteristic exponents of the industrial distributed ledger system, a simulation model was developed in the AnyLogic environment.
Advanced Research in Systems and Signal Processing
Performance contracts used for servitized business models enable consideration of overall life-cycle costs rather than just production costs. However, practical implementation of performance contracts has been limited due to challenges with performance evaluation, accountability, and financial concepts. As a solution, this paper proposes the connection of the digital building twin with blockchain-based smart contracts to execute performance-based digital payments. First, we conceptualize a technical architecture to connect blockchain to digital building twins. The digital building twin stores and evaluates performance data in real-time while the blockchain ensures transparency and trusted execution of automatic performance evaluation and rewards through smart contracts. Next, we demonstrate the feasibility of both the concept and technical architecture by integrating the Ethereum blockchain with digital building models and sensors via the Siemens building twin platform. The resulting prototype is the first full-stack implementation of a performance-based smart contract in the built environment.
The article is devoted to the analysis of cryptocurrency as a new phenomenon in the modern global economic processes and legal institutions. The relevance of the study is predetermined by the very specifics of such a phenomenon as cryptocurrency consisting of a distributed ledger technology, which determines the peculiarities of issuing, storing and performing operations with cryptocurrency. Moreover, the cryptocurrency turnover directly correlates with the national legislation of individual countries, which are the subject of domestic regulation with currency, tax legislation and legislation on the securities market. Sometimes, in this regard, there is a clash of public interests and the interests of entities involved in the circulation of cryptocurrencies. Cryptocurrency, as an unconventional, trendy phenomenon of the recent times, has become the object of research and discussions on all the world platforms, starting with academia, continuing with the business community and ending with state institutions. There are many reasons for explaining such interest and they can all be reduced to two main blocks: the advantages and the disadvantages of cryptocurrency circulation. The problem of cryptocurrency turnover, on the one hand, is that until now none of the national economies have regulated the cost-effective mechanism for the cryptocurrency turnover and, on the other hand, the leading countries have not yet set up an effective system of legal regulation of cryptocurrency. Many countries are in the active process of working to adequately address the above problem. Separately, it is worth highlighting the interest of Muslim countries in this issue, where discussions are still underway about the permissibility of cryptocurrency in Islamic law. As for the Russian realities in the context of the issue under study, the Federal Law “On Digital Financial Assets, Digital Currency and on Amendments to Certain Legislative Acts of the Russian Federation“, which came into effect on 1 January 2021, was supposed to streamline relations of subjects including cryptocurrencies, but, according to the experts in this field, this law is far from impeccable and this sphere of relations cannot be quickly and effectively regulated. This article describes the characteristics of cryptocurrency, its essence, disadvantages and advantages as an object of economic and civil law relations. The purpose of the research is to analyze the economic and legal phenomenon of cryptocurrency, as well as its characteristics in the Muslim legal system. The complexity of the work should be emphasized as a novelty. Based on the designated goal and the logic of construction, the study consists of three interrelated parts. The first part outlines the characteristics of cryptocurrency as an economic category, the second part is devoted to its legal analysis and the last part of the study demonstrates the Islamic perception (Sharia analysis) of this phenomenon. As a conclusion on the scientific research, we will highlight the following provisions. First, economically, nowadays, cryptocurrency is a rather controversial financial instrument: on the one hand, it has great investment attractiveness, but on the other hand, it is subject to great volatility and seems to be a rather risky financial asset. Secondly, from a legal standpoint, cryptocurrencies have not yet found their consistent consolidation and further legal regulation in the Russian legislation. It seems that the legal regulation of this institution will systematically develop depending on what application and results of its turnover the cryptocurrency will have in the future. Finally, the Islamic interpretation of the cryptocurrency phenomenon boils down to the absence of a single, consistent explanation of it from the perspective of Islam and Sharia as an object of permissibility (or prohibition) of transactions with it. It is necessary to further analyze the practice of using cryptocurrency and its impact on the economy and legal institutions in order to make a final decision on its permissibility or prohibition in correlation with the types of activity and the upcoming consequences associated with it.
Abstract The research focuses on the analysis and ranking of effects from the implementation of blockchain technology. Currently, most of the work in this area is devoted to the introduction of blockchain technology into information systems, the functions of which are usually limited to a specific area of operation. At the same time, as the analysis reported, the capabilities of application of blockchain technologies go beyond one area of operation. Banking, the public sector and the healthcare sector are the most important sectors for the implementation of blockchain technology. Companies are interested in introducing blockchain technology into their information systems, but they are unable to quickly analyze the effects of this technology. The article proposes to use a new method of multi-criteria evaluation of these effects, which is based on the idea of sharing inaccurate product models of decision-maker preferences, as well as theory of planning experiments aimed at extracting and using expert’s knowledge about blockchain technology.
Background: Today, blockchain technology is of interest in both the technology and business sectors. The information technology industry is developing very rapidly in our time, and new technologies appear so often that specialists often do not have time to react to their appearance. One of the striking examples of modern information technology potentially capable of changing the organization of effective economic management is the technology of distributed ledgers. Blockchain technology is "cross-cutting", that is, one that can be applied in many areas of the economy, management, including state, municipal and social spheres. This paper determines by the provisions and the need to form the basis for the prospective assessment of the consequences of the implementation of blockchain technology, both nationally and internationally and collect information on the state of the issue, comparison of information for a transaction using blockchain technology in the supply chain of logistics, proposing the model implementation and future research and recommendations. Methods: review of literature on the introduction of blockchain technology allows us to determine the current state of research issue, to note the lack of knowledge of blockchain technology and the use of a wide range of consumers. In this regard, it is necessary to conduct an analysis of the implementation of blockchain technology from the world experience.
Kateryna Kolesnikova, Olga Mezentseva, Tleuzhan Mukatayev
The article is devoted to virtual currencies, which is a fast growing and popular market. It was found that for virtual currencies, in particular, for the cryptocurrency Bitcoin, there is a problem of uncontrolled money laundering. This is facilitated by pseudo-anonymization and the presence of illegal exchangers. In this paper, to solve this problem, the method of combining layers in convolutional neural networks is used, which is manifested in the stack layering.In CNN networks, convolutional and erecting layers are usually stacked in a stack, one above the other. The paper proposes a model of Bitcoin transaction analysis to identify anomalies related to money laundering. As such a model, it is proposed to take a combined method, which consists of the method of random forests, enhanced by information from the graph convolutional network, ie, embedded vertices. As a result of the model, we obtained indicators that indicate the presence of possible shadow transactions in the amount of 2-3% of the total market.
In the framework of creating a digital ecosystem of commercial real estate objects, the main problem is the formation of a digital environment for managing all components of engineering systems that ensure the vital activity of the real estate object. The aim of this work is to develop a system for accounting for mutual settlements for electricity consumed on the basis of a distributed ledger using blockchain technology. To assess the effectiveness of the system a simulation model was built using AnyLogic system. Based on the model the system architecture was designed and a software application of the distributed ledger was developed. Keywords- Blockchain technology, distributed ledger, simulation model, software application.
Kurz nach der Veröffentlichung des White Papers zu Bitcoin im Jahr 2008 wurde Blockchain zu einer der am meisten diskutierten und gehypten Technologien der letzten zwei Jahrzehnte. Bitcoin führte eine kryptografisch gesicherte dezentrale Plattform für die Übertragung digitaler Vermögenswerte (die Kryptowährung Bitcoin) mit freiem Zugriff für alle ein. Einige Jahre später ging ein neuer „Player“ einen Schritt weiter: Ethereum führte die Idee eines Blockchain-basierten globalen, dezentralen Computers ein, auf dem jeder Programme auf beobachtbare und transparente Weise bereitstellen und ausführen kann. Diese als Smart Contracts (SCs) bezeichneten Programme sind zwar in der Lage, jedes entscheidbare Problem zu berechnen, sie ermöglichen jedoch in erster Linie Parteien, ein Rahmenwerk für Verträge einzurichten, ohne dass ein vertrauenswürdiger Vermittler erforderlich ist. Tatsächlich verlagert sich das Vertrauen dadurch zu den transparenten Mechanismen der Blockchain. In dieser Arbeit untersuchen wir das Ökosystem von Ethereum hinsichtlich der auf der Mainchain bereitgestellten SCs und legen einen Fokus auf die in den SCs verwendeten Authentifizierungsmuster. Diese Muster beschränken einige Funktionen der SCs, indem sie nur bestimmten Adressen erlauben, den abgesicherten Teil der Funktion auszuführen. Als Methoden für unsere Analyse führen wir die symbolische Ausführung und die Taint-Analyse ein, welche Werkzeuge sind, mit denen der Bytecode eines Programms semantisch analysiert wird. Basierend auf diesen Tools schlagen wir heuristische Erkennungsstrategien vor, um automatisch vier Authentifizierungsmuster zu erkennen, die wir im Ethereum-Bytecode von SCs finden. Darüber hinaus bewerten wir die Erkennungsstrategien anhand eines Testsatzes manuell klassifizierter SCs.
China's economy is in a critical period of transformation and upgrading, and the financial industry has also entered a deep reform zone. It is necessary to improve financial services to better assist the development of SMEs. Difficult and expensive financing has always been a problem faced by SMEs in the development process. Supply chain finance provides important financial support for financing difficulties of SMEs. In the process of continuous development of industrial upgrading, the development model of supply chain finance has also become more diversified. It is necessary to improve the current operation mode of supply chain finance. Blockchain technology has been developing rapidly. Relying on its characteristics of decentralization, non-tampering, smart contracts, etc., the research of various "blockchain +" scenarios continues to bring forth new ideas, which can effectively solve the practical application of supply chain finance Existing risk issues. This paper studies the technical principles and characteristics of blockchain, analyzes the current situation of supply chain financial risk management and control, and discusses the use of blockchain technology in supply chain financial risk management and control.
The paper considers the problem of constructing a model of the robust distributed ledger for security proof of a multidimensional blockchain. Several requirements for the model are imposed, among which most important are compatibility with existing models and presence of functionalities for external transactions. The authors present an approach to extending existing models based on the analysis of these solutions, their advantages and disadvantages. The model construction is based on universal composability framework. Two models are proposed: a model of the robust distributed ledger and a model of the search and verification protocol. These are meant to be used in security proofs for scaling and registration in a multidimensional blockchain. The proposed model of the robust distributed ledger is an extension of models used in security proofs for consensus mechanisms: proof of work and proof of stake. It duplicates their functions and additionally maintains external transactions. The model of the search and verification protocol implements ideal functionality used for external transaction verification. The results prove that the proposed model does not damage essential security parameters of the robust distributed ledger in presence of external transactions. The study confirms the compatibility of the proposed models with existing analogues implementing robust distributed ledgers. This fact allows using the universal composability theorem for constructing security proofs of multidimensional blockchain and search and verification protocol. The proposed method of extending existing models for security proofs can be used to create new models with additional functions not implemented for security proof of a multidimensional blockchain.
Open access
2 source records
Economic and Technological Systems Analysis
Blockchain Technology Applications and Security
Advanced Research in Systems and Signal Processing
Over the past decade, in addition to multiservice networks, blockchain technology has undergone significant development due to the possibility of organizing a safe, integral, reliable exchange and storage of information. Due to the great demand for the technology, there is a problem of data transmission to the operators' networks. At the same time, a key task appears to consider the effect of this technology on network characteristics to predict traffic behavior on the network and ensure the required service quality indicators, as well as the stability of the state of the public communication network elements when the distributed ledger technology is operating. However, to consider and analyze the influence of technology in a full-scale experiment is a labor-intensive task that cannot always be performed, therefore, in this article, the authors propose to consider approaches to structural-parametric modeling of these systems.
In the 21st century, it is becoming increasingly clear that human activities and the activities of enterprises affect the environment. Therefore, it is important to learn about the methods in which companies minimize the negative effects of their activities. The article presents the steps taken and innovative actions carried out by enterprises in the energy sector. The article analyzes innovative activities undertaken and implemented by enterprises from the energy sector. The relationships between innovative strategies, including, inter alia, digitization, and Industry 4.0 solutions, in the development of companies and the achieved results concerning sustainable development and environmental impact. Digitization has far exceeded traditional productivity improvement ranges of 3–5% per year, with a clear cost improvement potential of well above 25%. Enterprises on a large scale make attempts to increase energy efficiency by implementing the state-of-the-art innovative technical and technological solutions, which increase reliability and durability (material and mechanical engineering). Digitization of energy companies allows them to reduce operating costs and increases efficiency. With digital advances, the useful life of an energy plant can be increased up to 30%. Advanced technologies, blockchain, and the use of intelligent networks enables the activation of prosumers in the electricity market. Reducing energy consumption in industry and at the same time increasing energy efficiency for which the European Union is fighting in the clean air package for all Europeans have a positive impact on environmental protection, sustainable development, and the implementation of the decarbonization program.
Alexey Mikhaylov, Mir Sayed Shah Danish, Tomonobu Senjyu
Abstract In this study, it is examined how to improve the effectiveness of bitcoin market. In this framework, firstly, a wide literature review is made, and different factors that may be effective in this regard are identified. Afterward, an analysis is performed with Hurst method to determine which of these factors are more important. The study of cryptocurrency volatility is important in terms of financial instruments for hedging traditional assets, as well as in terms of pricing. The above results would be particularly useful in terms of portfolio management and risk management. This study discusses various financial issues related to cryptocurrencies, as well as some problems associated with the problems of their forecasting. To solve the problems of forecasting, the authors have not only studied, but also improved the forecasting method based on the machine learning algorithm in the MATLAB system using the tree model. Most of the analysis in the document relies heavily on studies by authors studying this issue. They can help make more informed decisions regarding financial investments and avoid the risks of using cryptocurrencies. The results may also assist regulators in creating a favorable legal environment for the functioning of the cryptocurrency market.