Александра Шмырева, Александра Шмырева, Pavel P. Baranov, Pavel P. Baranov · 6 authors
The article estimate some aspects of the functioning of cryptocurrency, as a relatively new financial market instrument, the main participants in this market segment, cryptocurrency exchanges, taking into account key criteria: accessibility, mobility, operational efficiency. The aspects of regulation at the world and national levels are investigated.
 The authors give an assessment of the mechanism for regulating cryptocurrencies in separate countries ,which recognize this instrument and actively regulate it (Ar-gentina, Canada, Japan, Malazia, Switzerland),as well as countries, which reject (Vi-etnam) or just tolerate cryptocurrency, but do not have the regulatory framework for it use.
 Obviously, cryptocurrency is a relatively new instrument of the financial market, but its value not depend with amount of labour invested, as it is traditionally charac-teristic for conventional goods and services.
 The research shows that bitcoin still remains the most widespread type between other different kinds of cryptocurrencies.
 A significant aspect of cryptocurrencies functioning is their regulation. In our country there is no legislative certainty yet, but some steps have been made in this di-rection.
 In the long term, cryptocurrencies will be regulated at the international level, and the emphasis will be on preventing the use of their illegal financial transactions and for money laundering.
V.I. Glotov, Dmitri M. Mikhaylov, Alexey A. Yurov, Dmitri O. Uglov · 5 authors
The paper describes the classification and criteria for blockchain environment participants. The overview of the main types of blockchain participants is essential for the understanding of blockchain social and economic behaviour. It structured in the description of the several patterns which is often generated inside the Bitcoin blockchain and the list of the economic entities with the criteria of their behaviour. The paper gives the view on the different types of blockchain entities both from outside and inside the blockchain. Also, the paper lists the possible risks of criminal behaviour corresponding to every entity.
The article deals with current challenges for regional development and their impact as causes of threats to economic security. Economic security is seen as a complex multilevel system, the formation of which occurs at various levels of economy’s hierarchy: the state level, an economic sector, an industry (economic activity), a region, a business enterprise, a city, a town, a village, a local territorial community, a person. It is determined that a region’s internal and external environment is the key factor of its economic security. The assessment, which was carried out, enables to establish the following characteristics: structural imbalances, a gap between regional investing priorities and determined priorities, a break in the production chain, an asymmetry in technological development of regional industries, expansion of foreign companies on the domestic market, incompatibility between the system of institutions and the aims of social and economic development of regions.The research paper describes the current challenges for regional development, such as deepening of regional differences in creating tensions in regional labour markets; intensification of migration processes; growing differences in the intensity of structural changes; reducing foreign investment; institutional and fiscal decentralization; growing problems in organizing and financing social services; deepening asymmetry in the development of cross-border infrastructure, which requires a system of protection against increasing threats to economic security.A range of methodological approaches to assessing the level of economic security is generalized. A set of quantitative and qualitative indicators is suggested for evaluating the results of security assurance activities at all levels of the hierarchy: a region, a territorial community, a business enterprise, a person.The priority areas of administrative activity designed to prevent threats to economic security are identified. Given the current challenges, these priority areas include: structural reform of the economy, an increasing backbone role of state-owned entrepreneurship, inter-regional and inter-municipal cooperation, modernization of social safety in terms of personal security, strengthening safety of entrepreneurship, reinforcement of security of local communities under conditions of political, administrative, financial, fiscal, economic and environmental decentralization.The main characteristics of each area are pointed out. Further research studies are to be undertaken to empirically examine the results of these measures and identify barriers for institutional assurance of economic security.
Олена Фоміна, Olena Moshkovskа, O. O. Avhustоva, Olha Romashko · 5 authors
Various mechanisms for implementation, and at the same time contradictory approaches to the essence, evaluation, reflection, and regulation, led to the need to consider and improve approaches to the recognition of cryptocurrency. Based on the critical analysis of the legal provisions in Ukraine and the approaches of scientific experts, practitioners and international experience, the economic essence of cryptocurrency is substantiated. The legal, economic and accounting aspects of cryptocurrency recognition in developed and transformational economies are revealed. In order to meet the information needs of users, the peculiarities of the application of methods for estimating cryptocurrency commodities and the influence of the chosen method on the reflection of such an asset in the financial statements have been identified. The necessity to clarify and harmonize existing national accounting standards for recognizing and reporting on cryptocurrency transactions has been identified. The proposed approach to the identification and recognition of cryptocurrency goods will improve the relations between the owners of cryptocurrency and the state, legalize cryptocurrency transactions and form an effective system for managing such transactions in Ukraine.
Today, the world is on the threshold of a digital revolution that will affect all spheres of public life. The application of cryptocurrencies and blockchain technology has gone a long way since its introduction. Now it has reached a new milestone as it gets implemented in the energy sector. Blockchain and cryptographic technology have the potential to radically change the energy industry of the usual. Blockchain and cryptocurrencies are changing the energy sector and in the article is considered how it will affect the energy industry. Blockchain systems and cryptocurrencies no longer require either intermediaries or a central authority. But it is still difficult today to put such models into practice. In addition, there are a number of legal and regulatory requirements that blockchain projects must also comply with. Cryptocurrency is one of the most relevant topics when it comes to digitalization. On the basis of the analysis of the foreign practice of the use of cryptocurrency in the electric power industry, the prospects of implementation of such projects for Ukraine and their legal support are analyzed. Emphasized the advantages of blockchain and cryptocurrencies and demonstrates the mechanism of their work. The situation regarding the definition of the legal status of cryptographic goods in foreign countries and Ukraine is analysed. The main points to be solved in the course of approval of the right regulation of cryptocurrencies in Ukraine are determined. Foreign and certain domestic experience of using the blockchain technology and cryptology in the field of electric power industry indicates the prospect of further development of this direction. In the implementation of such instruments,it seems that it will allow accelerating the payments in electricity supply relations, will allow them to be more transparent, and at the same time protected from unauthorized interference, enhance the culture of contractual relations. REFERENCES1. Maidanyk R.A. Virtualna valiuta v tsyvilnomu pravi Ukrainy: stan, tendentsii, perspektyvy. Visn. Nats. akad. prav. nauk Ukrainy. 2018. Vol. 25, No. 2. P. 114-129 [in Ukrainian].2. Husieva I.I., Petrova T.O. Tendentsii rozvytku kryptovaliut na rynku Ukrainy. Naukovyi visnyk Mizhnarodnoho humanitarnoho universytetu. 2017. Iss. 24 (1). P. 48050 [in Ukrainian].3. Lukianov V.S. Zarodzhennia rynku kryptovaliuty v informatsiino-merezhevii paradyhmi. Aktualni problemy ekonomiky. 2014. No. 8 (158). P. 4360441 [in Ukrainian].4. Svon M. Blokchejn: Shema novoj jekonomiki. M.: Olimp-biznes, 2017. 240 p. [in Russian].5. Blokchein — novi mozhlyvosti dlia vyrobnykiv ta spozhyvachiv elektroenerhii? Ohliad svitovoi elektroenerhetyky, pidhotovlenyi PwC. Pricewaterhouse Coopers International Limited (PwCIL), 2016. URL: https://www.pwc.ru/ru/publications/blockchain/blockchain_opportunity-for-energy-producers%20and-consumers_RUS.pdf [in Ukrainian].6. Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. EUR-Lex: Access to European Union law. URL: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32015L08497. Federal act on banks and savings banks. URL: https://www.admin.ch/opc/de/classifiedcompilation/19340083/index.html8. O razvitii cifrovoj jekonomiki: Dekret Prezidenta Respubliki Belarus' ot 21.12.2017 № 8. URL: http://president.gov.by/ru/official_documents_ru/view/dekret-8-ot-21-dekabrja-2017-g-17716/ [in Russian].9. Zelena knyha rehuliuvannia rynku kryptovaliut: Ofis efektyvnoho rehuliuvannia. Traven 2018. URL: https://cdn.regulation.gov.ua/fe/5b/20/42/regulation.gov.ua_Zelena-Knyha.-Rynok-Kryptovaliut.pdf [in Ukrainian].10. Bitcoins: Aufsichtliche Bewertung und Risiken für Nutzer. Bundesanstalt für Finanzdienstleistungsaufsicht. 19.12.2013. URL: https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Fachartikel/2014/fa_bj_1401_bitcoins.html [in German].11. Blockchain: Hype or Innovation: CoinForum.de. 26.02.2016. URL: https://Bitcoinblog.de/2016/02/26/rwe-undslock-it-wollen-ethereum-fuer-elektroautos-nutzen/12. Kryptovaliuta SolarCoin ta soniachni elektrostantsii. "SolarCoin" Nova kryptovaliuta yaka stymuliuie montazh dzherel alternatyvnoi elektroenerhetyky. 17.01.2018. URL: https://prel.prom.ua/a322224-kriptovalyuta-solarcoinsonyachni.html [in Ukrainian].13. Pro obih kryptovaliuty v Ukraini: proekt Zakonu Ukrainy vid 06.10.2017 No. 7183. URL: http://w1.c1.rada.gov.ua/pls/zweb2/webproc4_1?pf3511=62684 [in Ukrainian].14. Pro stymuliuvannia rynku kryptovaliut ta yikh pokhidnykh v Ukraini: proekt Zakonu Ukrainy vid 10.10.2017 No. 7183-1. URL: http://w1.c1.rada.gov.ua/pls/zweb2/webproc4_1?pf3511=62710 [in Ukrainian].
The purpose of the article is to identify system features of the mechanism of decentralized management of natural resources, adapted to European standards of management. Methodological approaches have been developed to create a system of mechanisms for managing natural resources in the context of decentralization of power in Ukraine. They are based on the principles of structural and project management, subsidiarity, good governance, public-private partnership and natural resource management with the participation of local communities, structural, project management and consolidated financing for the sustainable development of municipalities. The authors presented specific proposals on the creation of an environmental management system at the level of territorial communities and municipalities on the basis of the cluster-corporate economy by transferring them wide rights to use natural assets of local importance. The concept of an algorithm for the periodization of the process of decentralization of powers in the management of natural resources is developed until 2030, which will provide a transition to forms and methods of natural resources management that will effectively complete the European integration process in Ukraine.
Alex Plastun, Anna Oleksandrivna Drofa, Tetyana Viktorivna Klyushnik
Purpose – to investigate the Month of the year effect in the cryptocurrency market. Design/Method/Research Approach. A number of parametric and non-parametric technics are used, including average analysis, Student's t-test, ANOVA, Kruskal-Wallis statistic test, and regression analysis with the use of dummy variables. Findings. In general (case of overall testing – when all data is analyzed at once) calendar the Month of the Year Effect is not present in the cryptocurrency market. But results of separate testing (data from the period “suspicious for being anomaly” with all the rest of the data, except the values which belong to the “anomaly data set”) shows that July and August returns are much lower than returns on other months. These are the worst months to buy Bitcoins. Theoretical implications. Results of this paper claim to find some holes in the efficiency of the cryptocurrency market, which can be exploited. This contradicts the Efficient Market Hypothesis. Practical implications. Results of this paper claim to find some holes in the efficiency of the cryptocurrency market, which can be exploited. This provides opportunities for effective portfolio management in the cryptocurrency market. Originality/Value. This paper is the first to explore Month of the Year Effect in the cryptocurrency market. Paper type – empirical. Authors gratefully acknowledge financial support from the Ministry of Education and Science of Ukraine (0117U003936).
The paper is dealing with the problem of cryptographic assets (cryptocurrency and other, non-cryptocurrency, assets) recognition as objects of accounting. The compliance of cryptographic objects with the attributes of the asset in accounting is proved. The issue the essence of cryptocurrency for the accounting purposes is raised: cash, cash equivalents, currency, commodities, stocks, financial investments or intangible assets. The necessity of legislative regulation of digital economics and its adjustment by accounting standards is actuated. The assumption about the problem of the universal approach application to displaying cryptoassets in the accounting system in view of their diversity and the distinction of the performed is made.
The international experience of various countries of the world in the implementation, usage, and economic and legal status of cryptocurrency is compared in this research. The advantages and disadvantages of using cryptocurrency at the present stage of economic and scientific-technical development of Ukraine are considered. The results of the research of the awareness of market participants regarding the advantages and disadvantages of cryptocurrency and the presence of interest in the usage of cryptocurrency are given. The aim of this article is to study the possibilities of using cryptocurrency for economic development. The object of the research is the process of using cryptocurrency in the market in Ukraine, taking into account world experience. Practical implications. The results of a study of the demand for cryptocurrency in Ukraine. The research was conducted with the help of a questionnaire, as a result of which it was found out: the level of awareness of cryptocurrency; subjective perception of cryptocurrency; sources of awareness of cryptocurrency; the presence of the potential interest of Ukrainians in the acquisition of cryptocurrency. It was found what exactly Ukrainians consider the main advantages and disadvantages of cryptocurrency. Value/originality. Cryptocurrency as a means of payment and a type of electronic money is found in the most countries of the world in the “grey” zone, and regulators, if not prohibit, then at least do not recommend citizens to invest in such assets. However, the state of science and technology development of blockchain technologies, which are the basis of cryptocurrency, and the state of demand for cryptocurrency in the Ukrainian market are ready to use cryptocurrency. For the effective implementation of cryptocurrency, Ukraine lacks only the normative framework. Developing a regulatory framework in this area will help to bring cryptocurrency markets to stability. The introduction of international experience in the usage of cryptocurrency in Ukraine, the creation of own model of behaviour will be the first step towards building a transparent and understandable cryptocurrency market, which will lead to the development of the economy as a whole.
Purpose – the purpose of this study is to analyse the cryptocurrency market and to forecast household investments in it from a theoretical and practical point of view. Research methodology – in order to achieve the aim of the article, scientific literature and statistical data analysis, comparative analysis and SWOT analysis were done. Also, ARIMA forecasting model was adapted to forecast Household investment in cryptocurrencies. Findings – the first part of the study presents the theoretical aspects of cryptocurrencies. An overview of the cryptocurrencies and their market is provided, focusing on the concept of Bitcoins, its’ mining and technical principles of operation. The second part of this study is intended to analyse the cryptocurrencies market and its dynamics. In the last part of the research tendencies of household investments in cryptocurrencies are examined for the period of 2016–2019 according to the data from cryptocurrency exchange. Also, household investments in cryptocurrencies are analysed and major future investment trends and seasonality are identified as well. Household future investment in cryptocurrencies is also predicted. Research limitations – data used in the research only includes currency exchange information, that may be inaccurate when concluding the main trends of the market. Practical implications – the practical results of the study may be useful for households interested in investing, especially in risky investment alternatives. Results of the research justify the dynamics of the currency market and the fluctuation of cryptocurrencies’ prices that shows that investment in cryptocurrencies is very variable, unstable and risky. Originality/Value – cryptocurrencies market is particularly dynamic and fast-changing, so the newest scientific investigations are urgent. In this research, an attempt was made to forecast household investment in main cryptocurrencies
Миколаївський національний аграрний університет, Н. В. Лагодієнко, Ю. В. Волосюк, Миколаївський національний аграрний університет · 8 authors
Introduction. The paper examines and generalizes approaches to taxing cryptocurrencies in different countries of the world with the aim of identifying the most successful experience for its subsequent adaptation and application in the Ukrainian Legislation. The tendencies of the possible change of the cryptocurrencies control vector are revealed. The definitions of cryptocurrency are analyzed, possible variants of their legal status are determined. The analysis of prospects for establishing the legal status of cryptocurrencies in Ukraine is carried out. The draft laws on amendments to the Tax Code of Ukraine were studied. It was established that in Ukraine there was not yet formed the legal framework for determining the legal status and regulation of cryptocurrencies and proposed ways to improve Ukrainian legislation in the sphere of cryptocurrency transactions. \n \nPurpose. The purpose of the study is to analyze the global experience of cryptocurrency taxation in order to identify the best approaches to this problem in Ukraine. \n \nResults. Today, it is impossible to develop a universal mechanism for taxation of cryptocurrencies, since there are no single standards for the taxation of digital coins in the world. This is due to the fact that some countries do not want to recognize the use of digital money as legitimate, and countries that have given official status for cryptocurrencies use of their own approaches to taxation. The procedure for taxation of transactions using cryptocurrencies is governed by the national legislation of the member states. In this case, as a rule, the digital currency is treated as a commodity or an intangible asset, and not as a currency or money. \n \nConclusions. It has been proved that in the world practice several approaches to determining the legal status and taxation of cryptocurrencies with common trends have been formed. To date, Ukraine has not yet set up a legislative framework for the regulation of cryptocurrency, but there is a development of provisions and bills that need to be further elaborated.
The article describes the problem of forecasting prices of cryptocurrencies at the financial markets. Methods for analyzing and forecasting prices of cryptocurrencies at the financial markets are considered in detail. A trend indicator – moving averages – is considered as an auxiliary tool for technical analysis that helps to analyze and forecast prices of cryptocurrencies at the financial markets. During the study there were analyzed several methods of different categories, namely: SMA (Simple Moving Average), EMA (Exponential Moving Average), WMA (Weighted Moving Average). For analyzing moving averages, there were conducted the analysis, based on mean-square deviation together with the standard graphic analysis. The whole process was divided in several stages: a moving average was calculated, based on basic values; based on values of the calculated moving average, there was calculated a mean square deviation; deviation with the least numerical value was chosen among the massive of deviations. It has been revealed, that SMA has the least value of mean-square deviation, but EMA is the better choice, because EMA is most sensitive among considered moving averages, although an error extent is rater more.
The behavior of agents to ensure financial security on the basis of game theory was analyzed, the winning strategy taking into account risk and uncertainty was determined. Using Data Mining the useful functions of this technology were identified to ensure financial security: suspicious transactions determination, credit risks analysis, client account reliability analysis, financial indicators predicting and risks control. A comparison was made of the assessment of the effectiveness of various data mining algorithms on the nature of financial transactions and decision-making procedures in the financial security system. It was proved that the development of information technology has created a whole range of vulnerabilities in the financial system, in particular, has transformed the form of money in modern conditions -the emergence of a cryptocurrency. The influence of the formation and development of cryptocurrency on financial security at all levels of the economy: micro and macro was analyzed.
Topicality. It is caused by excessive centralization of powers and financial and material resources by the executive authorities, the inability of the territorial communities of the basic level to fulfill their powers, the deterioration of the quality and availability of public services due to the lack of financial and material provision. Aim and tasks. To investigate the economic aspects of administrative-territorial reform in Ukraine, to identify the main problems of financial provision of territorial communities of the baseline level. Research results. The model of budget relations implemented is aligned not by expenditures, but by income. Such a mechanism has a motivational component regarding the interest in increasing the revenue base of local budgets. At that time, the transition to equalization of local budgets by income led to an increase in the differentiation of communities. Most benefit was given to cities of regional significance whose incomes have increased significantly. Local government revenues consist of own revenues and transfers from the central level. Over the past 20 years, the tendency towards a decrease in the share of local budget revenues and the increase in the share of state budget revenues in the consolidated budget of Ukraine (without intergovernmental transfers) has been observed. The share of local budget revenues without transfers (own revenues) decreased by 1,5 times from 31,4 % in 2002 to 20,9 % in 2018. In the financing system of local self-government, during the study period, the share of transfers increased. The share of own revenues decreased almost 2 times, from 78,4 % in 2002 to 42,1 % in 2018, and the share of transfers increased from 21,6 % to 57,9 %, respectively. This dependence on transfers is of a serious scale: in 45 % of the united territorial communities (UTC) transfers in 2016 amounted to 75 % of revenues. The increase in the share of transfers in the budgets of local self-government, the dependence of the amount of transfers from central authorities and the inability to plan them, as well as the transfer of powers without adequate financial support, pose significant risks to the economic self-sufficiency of local communities. In 2016, 76 % of expenditures of local self-government bodies were performed on behalf of central authorities as financing of "delegated powers" (health care, education, social protection). At the same time, transfers from the central level accounted for only 57,9 % of local budget revenues. That is, a considerable part of delegated powers of local self-government bodies are forced to finance at the expense of their own income. As a result, they have little resources to fulfill their "own authority", namely the construction and repair of local roads and housing, the provision of utilities (water supply and sewerage, waste collection, heating, etc.), as well as local transport and development of " objects of culture and rest. Under the burden of current expenditures, the investment capacity of local self-government bodies is small. The authorities at the oblast and rayon level are not entirely self-governing, as regional and district levels act as local self-government bodies (regional and district councils), as well as executive bodies (oblast and rayon state administrations). The first few have very few powers, and their executive bodies are not created, although this is provided by the Concept. The latter are subordinate to the central authorities and they have a dominant role. All this complicates the assessment of changes at the regional and district levels in the context of financial decentralization. A prerequisite for the normal functioning and development of UTC is their economic self-sufficiency. This implies that the UTC revenues correspond to the expenditures necessary for the exercise of their own and delegated powers. An appropriate methodology is needed to carry out an assessment of the economic self-sufficiency of the communities. More than 4 years of decentralization reform have taken place, but there is no corresponding methodology. The lack of a methodology for assessing the economic self-sufficiency of the combined territorial is due to objective reasons. First, this is the lack of a clear and legally-established division of powers between the executive and local self-government bodies, as well as between the levels of the latter. Secondly, the lack of standards and norms of financial and infrastructural provision of public services (schools, kindergartens, paramedical outpatient departments, out-patient departments, engineering networks, etc.). Conclusions. The conducted study shows that Ukraine has a centralized system of incomes and expenditures, and the reform of financial decentralization has led to the opposite result, namely, to increase the dependence of local self-government on central authorities. The reform of financial decentralization in Ukraine tends to support a model that is more based on transfers than on its own revenue.
For a couple of years, the cryptocurrency has made a splash in the world of economy, turning from virtual money into a huge market in its size and creating a new full-fledged ideology of money-crypto-economy. Cryptocurrency has a huge potential for development. Cryptocurrency is a digital currency that uses encryption technology to transfer value over the Internet. But today cryptocurrency is trading that most meets the needs of modern society. This form of currency works independently of the banking system and can use in many countries as cash. The relevance of the study is whether cryptocurrency has a positive impact on the development of the economy. The purpose of this article is studying the impact of the process of introduction and use of cryptocurrencies in the economy of Kazakhstan. This process is intensively developing.The key issue for a deeper understanding of the role cryptocurrency is determining their economic nature. Research methods include the stage of cryptocurrency analysis affecting the financial sector, the dynamics of the cryptocurrency market and the overall analysis of assets. For analysis, we paid attention to five cryptocurrencies with the largest capitalization and a large amount of data. The analysis revealed the main factors affecting the market price of cryptocurrency and ways to eliminate them. In addition, the main problems of introducing cryptocurrencies in Kazakhstan, such as the process of regulation of the cryptocurrency market identified and prospects analyzed. A new form of cryptocurrency uses pro-posed.
The article presents the results of a study of the theoretical foundations of the Blockchain technology. The analysis of the organization structure of its units and the principles of the system. Algorithms of smart contracts are considered and their advantages and disadvantages are analyzed. The purpose of the study is that based on the analysis of the theoretical foundations of building systems using blockchain technology and introducing them into various areas, to propose a system model using smart contracts on the Etherium platform for use in the workflow system in institutions of higher education. Convenient web interfaces for managing the creation of a contract and a module for the interaction of smart contracts with a Web application have been developed. The management of an institution of higher education, namely, a department, faculty or institute, involves the correct and timely preparation of various documentation, in which the documentation on student learning outcomes holds a special place. On its basis various financial and reporting documents are being prepared. To this end, institutions of higher education are introducing workflow system and office automation systems to manage the processing of documents, as well as to organize control over the implementation of these processes. The paper proposes the introduction of a blockchain system on the Ethereum platform using smart contracts written in the Solidity language. Solidity is a tool that is used to create machine-level code that can be run on an Ethereum Virtual Machine. Solidity allows you to create and execute a smart contract without requiring centralized or trusted parties. The use of such technologies makes it possible to significantly reduce the number of paper-based information carriers and, to a significant extent, further automate the existing the workflow system in institutions of higher education. The proposed system is a part of the workflow system of institutions of higher education, which is designed to automate the process of passing documents related to taking into account and submitting to the dean's office of the faculty or the institute the results of the final controls on academic disciplines or the results of retake of tests and exams. This process requires a large number of documents on paper. The proposed system is deployed in the local computer network of the Educational and Scientific Institute of Information Technologies and Mechatronics of Poltava National Technical Yuri Kondratyuk University and is being tested. The results allow us to draw conclusions about the reduction in the number of paper documents; time to obtain permits. In addition, the level of reliability and protection of information transmitted to the administration of the faculty or institute for further processing has increased. In the future, it is planned to introduce the proposed system for document flow automation for all institutes and faculties of the Poltava National Technical Yuri Kondratyuk University.
The target of the article is to study the place of the cryptocurrency in the process of money laundering. The subject of the article is to investigate the ways and means of usage cryptocurrency for money laundering, the possibilities, and limits. Problem’s setting. The authors of the paper have emphasized that despite the broad usage of cryptocurrency all over the world for different kinds of purchasing and transactions, there is no unified position regarding the definition of cryptocurrency, as well as its legal status. Moreover, the aforementioned circumstances trigger the difficulties during the criminal investigation of money laundering by using cryptocurrency. Thus, law informant agencies are facing challenges with the identification of criminals’ personality and the fact of crime commitment. In addition, in the article, the authors articulate the main concept of cryptocurrency: anonymity and decentralization, which engender the main aggro while crime investigation. Methodology. The research is based on an analysis of historical stages of cryptocurrency creation: from Friedrich August von Hayek’s idea of “currency independent from banking and governmental” to the establishment of decentralized currency. Moreover, there were analysed the cases of money laundering where criminals who used cryptocurrency have been identified and press charged. In addition, the comparative methods were used to collate different positions regarding cryptocurrency all over the world and inside Ukraine. The position of the main authorities and organizations regarding the legal status of cryptocurrency was investigated as well. The results of the study revealed that a cryptocurrency is a convenient tool for money laundering because it gives relative anonymity for the owner of the currency, as far as it does not require any personal information about the user and his location. Aforementioned feature minimizes the opportunity for law enforcement agencies to track back the criminal activity and to identify the criminal personality. Furthermore, cryptocurrency transactions are out of the government control because for conducting any transactions by using cryptocurrency, there is no need for their verification by third parties like a bank, governmental authority or nongovernmental organizations. In addition, the user can have more than one account and conduct transactions from different places at the same time.
Constant technological innovation is the current reality for businesses and people. Most of the technologies have great potential beyond what they are designed for. Blockchain, the underlying distributed ledger technology of Bitcoin, has only recently begun to be tested for other uses. This paper studies Blockchain technology and its applications to supply chains. The concept of Blockchain technology will be scrutinized and its implementation benefits and limitations presented. Furthermore, the use cases and benefits of Blockchain technology for supply chains will be analyzed. The paper is complemented with examples and achievements of organizations testing the technology and experts opinions on the technology and its future.
The article reveals the expected risks in the process of decentralization of power in Ukraine. The basic definitions of decentralization have been analyzed. The main risks of decentralization are as follows: lack of mechanisms envisaged by the draft Law "On the Association of Territorial Communities", for the implementation of administrative and territorial reform; weakening of state control over the implementation of extended powers by local self-government bodies; the threat of failure to finance the powers of local self-government bodies. Three important stages of the development of the National Support Strategy are identified: the first stage requires the characterization and understanding of the national NSP; the second stage provides for an analysis of the current situation in the country; The third stage involves refining the international strategy-response. It is proved that the new system of public administration in Ukraine should be created through administrative reform. Therefore, the content of administrative reform consists, on the one hand, in the complex reorganization of the existing system of public administration in all spheres of public life in Ukraine. On the other hand - in the development of some institutions of public administration, which Ukraine has not yet created as a sovereign state.
Nowadays, Blockchain is one of the most desired technologies, because almost every industry seeks to apply it. Tourism was no exception. Manufacturers of services on the basis of a distributed database claim that thanks to the blockchain it is possible to completely get rid of the monopoly in the market, which in turn will lead to lower prices for services and increase the level of tourist comfort. The technology was first applied to the Bitcoin network. Now blockchain finds application in a wide variety of areas, from processing financial transactions to storage of data on the purchase of virtual cats. The tourism sector can use the blockchain to store publicly available information about the quality of hotels and the behaviors of tourists, to process transactions for the purchase of tickets and reservation of housing, to create databases for storing identity cards, etc. The subject of the article research is the use of blockchain in the tourism industry. The goal is to analyze the current state and determine the prospects for using blockchain technology in the tourism business. The tasks are to highlight the main problems and prospects for using the blockchain, as well as formulating a strategy for using this technology in the tourism market as a means of improving the quality of travel. The study uses theoretical, methodological and systematic methods of source analysis, including statistical materials, regulatory documents, scientific articles to assess the state of the use of blockchain technology in tourism and the prospects for its application. The following results were obtained: the main directions of the use of the blockchain in tourism were identified, its influence on the creation of a more diverse and flexible offer in the tourism services market. It is concluded that blockchain technology can provide greater security and transparency in the tourism industry thus increasing its profitability, which in turn affects the creation of new jobs and the standard of living of the population.
Торжевский КРИПТОВАЛЮТА КАК ИНСТИТУТ ЦИФРОВОЙ ЭКОНОМИКИВ статье рассматривается роль криптовалюты (и в частности биткоина -BTC) в процессе перехода к информационному обществу и цифровой экономике через призму трансформации социально-экономических институтов.Анализируется влияние BTC на основные институты общественного развития: института денежного обращения, посреднический, трансмиссионный, накопительный и др
Important conditions for Ukraine's integration into the European community are the decentralization of power and the provision of financial autonomy to local authorities. Decentralization allows local government authorities to obtain autonomy in terms of financing and providing social benefits to the population, contributing to the sustainable socio-economic development of the respective administrativeterritorial units. The article is devoted to the study of the characteristics of the accounting and analytical system in the process of income management of the united territorial communities in the context of the formation and use of local budgets. The analysis of the current state of development and the dynamics of the main indicators of the formation of UTCs in Ukraine and the volume of their budget revenues for the period 2015-2018 is carried out. It was found that during the research period there was a tendency of growth of revenues to the general fund of local budgets of territorial communities, including intergovernmental transfers and other funds allocated for implementation of targeted measures.In particular, in the structure of such funds, the largest share is allocated to regional and socio-economic development and the development of medicine in rural areas. The role of financial support of territorial communities was determined, the specificity of formation of the revenue part of the local budgets of UTCs was investigated in order to determine the structure of income and the ratio of sources of financing of local budgets.The issue of granting subventions and grants from the state budget for the proper exercise of the powers delegated by the government (to the development of education, medicine, culture, social security, etc.) is considered. The analysis focuses on the synthesis of opportunities for increasing financial revenues to the UTC budget, which will contribute to the selfsufficiency of local budgets under conditions of budget transformation. It was investigated that one of the directions of improvement of information support of budget incomes management is automation of accounting process. It is proposed to use the modern domestic software products "MASTER: Budgetary Institutions", which are fully adapted to the Ukrainian market and meet the requirements of the current legislation of Ukraine to be used in the UTC for accounting purposes
The emergence of cryptocurrency and its blockchain technology has seen great progress and more widespread acknowledgment of its value as a digital currency. Cryptocurrency invites more criminals to carry out their illicit activities due to the pseudonymity it provides. Forensic analysis of such criminal activities like money-laundering generate new insights for a better safeguard of the financial system. Advances in machine learning algorithms motivates such opportunities. In this project, the author achieved the task of visualising the Bitcoin network on the Neo4j graph database for an accurate depiction and the explanation of each components that make up the cryptocurrency. Following that, the project explored on experimental results of a binary classification task in predicting illicit transactions using machine learning models like Logistic Regression, Random Forest and Multilayer Perceptron, with a discussion of using new methods such as Graph Convolutional Network to better utilise the relational information that Bitcoin has to offer.