The article examines the tendencies of the investment sector of the Central region of Ukraine, which are formed under the influence of implementation of administrative and financial decentralization in Ukraine. The method of estimation of influence of administrative-financial decentralization on investment processes in the region is proposed on the basis of calculation of indicators of the ratio: a) growth rates of capital investments and foreign direct investments against own incomes; b) the rate of growth of expenditures on socio-economic development (in particular, public administration, health care, education, housing and communal services, repair and maintenance of roads, etc.) against own revenues of local budgets. The author’s method is tested on the example of cities of regional importance and districts of the Central region of Ukraine. It was found that: 1) in 2016-2018 the most effective was the policy of capital investment in Cherkasy region, the least effective – in the Kirovograd region; 2) the increase of the financial potential of the cities of regional importance and districts of the studied region did not cause a significant stimulating influence on attracting foreign investments; 3) the reorientation of local authorities’ own resources on capital expenditures on the development of social, transport and communal infrastructure is extremely slow. Systemic and dialectical methods were used in the study; logical generalization, system analysis, comparison and synthesis; strategic analysis, graphic. The works of leading scientists and specialists on a wide range of socio-economic problems, the operational information of the Main Directorates of Statistics in Vinnitsa, Kirovograd, Cherkasy and Poltava regions of Ukraine as well as information on the implementation of relevant local budgets of the Departments of Finance of Vinnitsa, Kirovograd and Cherkasy regional state administrations constitute the information base of the research.
The reform of education in Ukraine has been found to be consistent with the reform of decentralization. It is determined that in the process of decentralization reform, communities have an important strategic task – creating education management. It has been stated that the transfer of financial authority to the local level can help Ukraine to move away from the previous system of planning and implementation of educational policy by reducing the gap between operational and financial management, and the involvement of local authorities and schools in the decision-making process should improve the allocation of budgetary resources. In turn, this should lead to increased access to quality education, especially in more remote areas of Ukraine. It is emphasized that in the context of decentralization, the decision to open and close schools is taken by the communities based on their capabilities and needs, and no one except the village, town or city mayor and his assistants knows where the school should be, where the kindergarten should be, which school provides quality knowledge and which does not have sufficient resources to provide quality educational services and no official from the regional state administration or the Ministry of Education has a better situation than them. Accordingly, the optimization of the school network is only partly an initiative of the central government – every community can refuse to close even the smallest schools if it can and wants to finance them. The financial aspect of decentralization of the education system in Ukraine is fundamental, because not all communities are currently capable. The main objective of the CTA is to reduce the costs of maintaining educational institutions along with improving the quality of educational services. For this purpose in Ukraine the process of creation of reference schools is actively proceeding. The article examines successful examples of management of educational networks of creation in some newly created RTGs of Zaporizhzhya region, namely Priazovskaya, Girsivska and Orikhovska. Supportive schools have already been established and are operating successfully in each of these integrated territorial communities. These steps have significantly reduced the cost of maintaining educational institutions. All educators who wanted to continue their work were employed in reforming.
The paper deals with the issue of the budget financing of digitalization in Ukraine through e-governance. It was shown that it is very difficult to estimate the real volume of public expenditures on digitalization (informatization) through e-government program at all budget levels and directions, since its components (national, sectoral, regional) are being implemented by many executive bodies and local governments. According to international organizations, the public access to information on budget spending in Ukraine is limited, and transparency level is insufficient, while the level of e-governance is high. However, the interfaces of e-government and e-budgets of the central and local government bodies are not unified, and are mostly inconvenient to users. The official websites provide outdated and limited information. The lack of transparency of the budget resources using reduces the trust of the general public in governmental institutions. The organizational and institutional mechanism of budget financing of e-governance is studied based on the results of audits conducted by the authorized state bodies. It is revealed that the main contractor of the subprograms implementation of the National Informatization Program – the State Agency for E-Governance of Ukraine – has not ensured a proper level of coordination, control, and systemic and consistent action, therefore important goals of the program have not been achieved. While the goals of digitalization of public services are declared as priority in Ukraine, the level of budget financing does not correspond to them. In case of the implementation of regional programs of informatization, insufficient control of the main spending units leads to poor performance or failures in their execution. Still unsolved remains the issue of determining the sources of financial support for the basic sectors of the social sphere, in particular, regarding measures for their digitization, within the framework of regional decentralization. To deal with the above mentioned problems and challenges, it is recommended to establish a single coordinating body in the field of digitalization, including e-government, which should have ministry status and be built up on experience of countries, where similar bodies exist. The publication is prepared during the research work "Formation" of smart specialization in the economy of Ukraine" (state registration number 0117U007701).
Introduction. The reform of public finances in Ukraine involves implementing measures to increase the openness and transparency of the budget system. Ensuring the transparency of the budget process and the participation of the population in its organization envisages timely and accurate disclosure of information on the use of budget funds, as well as the ability of the public to participate in the formation and implementation of the budget, which is indisputable sign of democracy in many countries around the world. Purpose. The purpose of the article is to study the issues of effective implementation of the participation budget in the context of decentralization, also the development of practical recommendations for improving the dialogue between local authorities and society on the basis of cooperation in the context of participative budgeting. Results. The role and place of the participation budget in the system of public finance in terms of financial decentralizations are justified. Foreign and domestic experience of introducing participatory budgeting in the field is generalized. The algorithm for implementation and implementation of participatory budgeting and recommendations for effective implementation of the budget for participation in the community are presented. Conclusions. The participation budget is an effective tool for interaction between government and society, which combines the principles of democracy and zransparency. Of course, the introduction of a budget for participation in the context of decentralization reform offers significant benefits. Particularly relevant is the introduction of the participation budget for newly formed united territorial communities. If previously small financially unprofitable communities were not able to use participatory budgeting in their territory, now, with voluntary unions, they are getting new financial opportunities for their development, using best practices in the participation budget in large and small cities
The purpose of the article is to develop conceptual provisions of diversification of development of rural territories in Ukraine in terms of decentralization. The paper proves that diversification should be considered as a means of ensuring integrated development of rural territories in connection with the need to create new mechanisms for interaction between all rural territories, the need to optimize existing agricultural activities and introduce new productions. The author argues that there are important reasons for the diversification of development of rural territories, including low level of material well-being and employment of rural residents, low profitability of agricultural enterprises, environmental pollution and degradation of soils. Ensuring the diversification of the development of rural territories is suggested to be based on the principles of unity and integrity, taking into account the process of decentralization, with due consideration of geographical, economic, ecological, ethnic and demographic characteristics of each rural territorial entity. The factors of containment of the process of diversification of rural territories’ development in terms of decentralization are identified, including the insufficient legislation, limited natural resources, low level of public awareness, lack of financing of rural development programs from the State budget; lack of entrepreneurial experience of population; lack of start-up capital to start a business. The factors stimulating the process of diversification of the development of rural territories are allocated, including the reform of decentralization; conducting business trainings; providing consulting assistance in the legal and economic spheres. The directions of diversification of development of rural territories are determined including the diversification of agricultural production, diversification of non-agricultural activities and diversification of sources of financing.
Introduction. In Ukraine over the past decades there has been an extremely difficult situation with the renewal of fixed assets. The level of wear of fixed assets at the disposal of public authorities is more than 50%. In this circumstances, the issue of finding resources for financing capital expenditures for updating of the infrastructure, creation of new fixed assets becomes a topical issue. An important role in this process is given to local budgets, which, under decentralization, have broad powers in many areas, including those related to the implementation of capital expenditures. Local borrowing has a significant potential for revenue mobilization, which practically does not used by local authorities. Therefore, the study of this institute is an extremely important area of justification for further improvement of the budgetary system of Ukraine. Purpose. The purpose of the article is to study legal norms and practices for the implementation of local borrowing, as well as to develop recommendations on how to improve this institution. Results. As a result of the review of the current legislation, it was discovered that the main drawbacks that inhibit the development of local borrowing in Ukraine are the lack of a methodology for issuing external local loan bonds and the limited access of local councils to the borrowing market. The analysis of statistical data showed a low state of development of the local borrowing market in Ukraine. The main reasons for this situation are the inability of local councils to compete on an equal footing with the state in the financial market; long period of the crisis state of the national economy; low level of experience in the issue of municipal bonds; a large number of bureaucratic procedures and restrictions. Conclusions. The research showed that the institution of local borrowing in Ukraine is, in fact, at the stage of formation. There are significant shortcomings both in the legislation and in the practice of local borrowing. The least developed in Ukraine is a segment of municipal bonds. The frequency of issuing such loans is low and they are carried out irregularly. The fact that the municipal bonds market is the most active segment in the market of municipal borrowings of developed countries, gives grounds to assert about its considerable untapped potential in Ukraine. Reforming the budgetary system of Ukraine and increasing the financial autonomy of local authorities can be an impetus for its development in Ukraine. In order to make this possible, it is necessary to stimulate the development of financial market institutions, especially the stock market. The ways of development of local borrowings are offered as follow: establishment of objective and flexible criteria for obtaining the opportunity to enter the loan market; increase in the number of types of bonds; creation of an intermediary underwriter for bond issue; developing a system of incentives for investors in municipal bonds. Implementation of the proposed directions, together with a set of measures designed to develop the financial market and increase financial literacy of the population, will ensure greater efficiency of the use of local budgets and the development of the economy.
Introduction. In the context of budget decentralization in Ukraine, local governments are trying to make effective use of their powers and financial potential of the territorial community in order to increase local budget revenues and funding of services at the local level. The purpose is to find out the essence of the financial potential of territorial communities and to analyze its current state in the context of existing and potential sources of financial resources that can be used by local governments for the realization of their goals and perspectives. Methods. To achieve goal, a system of general scientific and special methods of research was used: analysis, synthesis and generalization - in the processing of literary, statistical, legislative and Internet sources on the topic of research; methods of systematizing and generalizing data, comparing and detailing were used when conducting analysis of local budget revenues; graphical, tabular and visualization methods were used for visual representation of the processed data; abstract-logical method was used for summarize the material presented and formulate conclusions. Results. It has been found out that financial potential of a local community is a collection of available and potential sources of financial resources that local governments can attract through budgetary, investment, credit and grant mechanisms to ensure the effective functioning of the community. It is proved that budgetary funds is gradually increasing and prevail in the structure of financial resources of local self-government bodies in Ukraine. Despite the positive dynamics, local budget revenues have not yet become the basis of financial independence of territorial communities, and tax revenues make up 88% of the structure of local budget own revenues. Possibilities of attracting private sector investment funds on the basis of public-private partnership as a potential source of financial resources of territorial communities are analyzed. It has been found out that the sources of growth of the financial potential of local self-government are credits and grants, which provide financing for infrastructure projects for the development of territorial communities. It is proved that the specific reserve of resource provision of territorial communities is human capital, with the participation of which the formation, distribution and use of financial resources of the community takes place. Emphasis is placed on revenues from the disposal of municipal waste as an inexhaustible financial resource of territorial communities. Proposals for increasing the efficiency of utilization of the financial potential of territorial communities at the present stage of development have been developed. Conclusions. The subject of further scientific exploration is the search for and in-depth study of ways to effectively use the financial potential of local communities to improve the quality and accessibility of public services at the local level.
The article is devoted to the identification of the higher education development trends on the basis of the key analytical documents analysis of the following international organizations in higher education: United Nations Educational, Scientific and Cultural Organization (UNESCO), Organisation for Economic Cooperation and Development (ОЕCD), World Bank, European University Association. UNESCO documents are focused on the autonomy of higher education institutions and academic freedom. Autonomy means that degree of self-governance necessary for effective decision making by institutions of higher education regarding their academic work, standards, management and related activities consistent with systems of public accountability, especially in respect of funding provided by the state, and respect for academic freedom and human rights. However, the nature of institutional autonomy may differ according to the type of establishment involved. Autonomy is the institutional form of academic freedom and a necessary precondition to guarantee the proper fulfilment of the functions entrusted to higher-education teaching personnel and institutions. The World Bank Analytical reports are emphasized on the financial autonomy as an integral part of the higher education financing system. The OECD reports are devoted to the university autonomy in the context of financing, quality assessment and management of higher education institutions. The tendencies of the development of higher education systems in Europe are defined. They are increasing of the role of higher education in ensuring the competitiveness of countries in the world economic community; increasing of the universities competition in market economy and controlling over the public financial resources effective using; increasing demands for higher education quality; decentralization of higher education institutions management; development of the institutional autonomy and academic freedom; the interconnection of institutional autonomy, accountability and responsibility for the quality of higher education; the educational paradigm changing in terms of learning and teaching recognition as key institutional priorities.
The article defines the initial conceptual provisions of budget federalism in interaction with budgetary centralism in the order of the problem statement. The main ideas and plans of pilot project «State regulation of regional human development in the administrative region» (on the example of Khmelnitsky region) are revealed. The rights and responsibilities (main powers) of the regional state administrations and the regional councils in regulating the volume and structure of local budgets for financing the components of the Regional Human Development Index are considered. The financial self-sufficiency of regional and local authorities, local governments and united territorial communities is regulated by expenditure powers within the limits of fiscal revenues to local budgets. The ratios of budget funds of local and state levels in the Consolidated Budget of Ukraine, which are built on the basis of harmonious proportions of the «Golden Intersection», are considered. It is proposed that direct budget transfers should be carried out in accordance with the norms of financial provision of social standards for human development. Budgetary federalism in a unitary state is to regulate such scales of the financial self-sufficiency of regional authorities and local governments to assess and forecast the sources and volumes of local finances on the basis of budget and fiscal decentralization of revenues, which are determined based on expenditure powers in socio-economic development.
James Gresham, Diego Ambasz, Suhas Parandekar, Moreno, Juan Manuel · 5 authors
Ukraine has embarked on an ambitious reform agenda with great potential to transform and reposition the education system as a driver for economic growth and social prosperity. The reforms introduced following the Euromaidan Revolution have generated great optimism by decentralizing and democratizing the education system, while laying the foundations for greater alignment and integration with European norms and standards in education. Despite Ukraine's impressive foundations in and history of education, the system appears misaligned with the changing needs of the economy and the population. Skills demanded by the expanding sectors of the economy are different than those supplied by the education system, and change has been slow. Despite high levels of educational attainment in Ukraine, human capital remains a small share of national wealth, suggesting disparities in quality and relevance of learning. Furthermore, the system remains inefficient and slow to adjust to the declining student-age population, which also allows equity gaps to persist. Although the ongoing reform agenda is moving in the right direction, systemic imbalances and the inertia of history threaten to undermine Ukraine's education reform agenda. This review identifies five priority areas for reform going forward related to vision, governance, financing, incentives, and information. Advancing the reform agenda while attending to these priority areas will help to ensure the transformation and modernization of the education system that Ukrainians want and deserve.
It has been identified that in the process of decentralization reform, united territorial communities have a very important strategic task - the creation of an educational management mechanism. It is stated that the purpose of reforming education under decentralization is first and foremost the transfer of powers and responsibility for managing education to local governments and directly to schools. An important aspect of the decentralization of the education system is the study of the principles of decentralization in education. The transfer of authority and responsibility for financing and managing education to territorial communities is a key aspect of reform. The decentralized type leaves most of the educational tasks to local governments and is based on the principle that each member of the community (parent, educator, teacher and teacher), as a taxpayer, alone addresses the educational needs of children in local communities and schools, and will be an impetus to improving the level of education in institutions of one community. It is established that the principles of decentralization in the management of education are based on: financial motives, efficiency motives, political motives. The financial aspect of the decentralization of the education system in Ukraine is fundamental, because not all communities are currently capable. The main objective of the CTA is to reduce the costs of maintaining educational institutions along with improving the quality of educational services. For this purpose, the process of establishing reference schools is actively ongoing in Ukraine. The problem of a small number of students in small towns and villages will be solved by such optimization of the school network. Decentralization of government diminishes the amount of decision-making by the state, delegating some powers in individual areas to nonexecutive and non-executive regional authorities. Decentralization of governance is one aspect of the application of European experience in the development of education. The redistribution of functions by the education system has a great influence on improving the level of higher education in Ukraine and bringing it closer to the European level of education. We believe that decentralization in the management of education can be accomplished only in complex: between the head of the educational institution and the educators, between the authorities and consumers of educational services, between the state and civil society, between the state executive power and local self-government.
Over the past few years, there has been an exponential increase in interest in cryptocurrencies and the ideas that they carry and which have a huge impact on the marketing environment, economic and social relations now, and in the future possibly on the whole structure of society as a whole. It is proved that in the future, cryptocurrency will face a rapid rise and formation of it as a self-regulating and full-fledged participant in electronic money or a complete collapse and degeneration of this system into something else, but with slight differences in the functioning mechanism. Today, cryptocurrency has a large number of opportunities and strengths, which was proved during the SWOT analysis, the rapid growth rate of capitalization and exchange rate and the great interest of the Ukrainian population in it, as evidenced by the results of our survey.
Volodymyr Tkachenko, Olеks, r Korystin, Taras Voloshchuk · 6 authors
The article reviews the peculiarities of cryptocurrency circulation in the world and domestic financial systems. It is determined that scientific researches of the recent years are devoted to the specifics of cryptocurrency, the risks associated with the circulation of cryptocurrency and government instruments for their minimization. The general risks associated with the circulation of cryptocurrency, including the possibility of its use for the legalization of criminal proceeds. The peculiarities of the policy of the USA, Singapore, Argentina, Canada, the Czech Republic, and China in the direction of minimization the risk of legalization of incomes through cryptocurrency, in particular, criminalization of fraud with digital currency, restrictions on operations with cryptocurrency are revealed. Particular attention is paid to the experience of Ukraine in the field of legal regulation of cryptocurrency circulation. It is concluded that the key for minimizing the risk of money laundering through cryptocurrencies is the lack of a generally accepted cryptocurrency status, given that its definition is a priority in the direction of safe circulation of cryptocurrency in the world and domestic financial systems.
Альона Ільдусівна Гнатовська, А. І. Гнатовська, Алена Ильдусовна Гнатовская, Alona I. Hnatovska · 16 authors
The article deals with the problems of determining the place of the cryptocurrency in the system of financial instruments and the study of its legal status in Ukraine and in the world. The problems of influence of cryptocurrencies on the economy of Ukraine and other countries across the world, potential threats posed by the cryptocurrency system for users of such systems and ways of legal regulation of cryptocurrency transactions are considered. The terminology that is widely used in the cryptocurrency field is analyzed, the main types of cryptocurrencies and the technologies on which they function are considered. Their characteristic features, positive and innovative concepts, which were introduced with their appearance, are identified. The legal status of cryptocurrencies and their prevalence has been investigated. The modern concepts of regulation of the cryptocurrency market in Ukraine and in the world are characterized. In the course of researching the subject of the article, the authors conclude that it is necessary to establish state control over the regulation of the legal status of cryptocurrency and prevent its possible negative impact on the country's economy. It was also concluded that a draft law would be considered that would address the issue of regulation and control of cryptocurrency transactions.
Аргументовано різний підхід ЄС до правового статусу криптовалют – одні країни визнали доцільність їх використання та працюють над створенням законодавчої бази, яка закріплює правовий статус віртуальних валют, а інші країни відмовляються від криптовалют та забороняють їх обіг. Пропонувалося розробити окремий законопроект із залученням активної частини криптовалютної спільноти, який містив би положення про визначення криптовалюти як валюти, відмову від бартерного характеру криптовалюти, встановлення Національного банку України як головного регулятора таких відносин, відмова від обмеження придбання криптовалюти лише в спеціалізованих фінансових регуляторах через можливі корупційні ризики, встановлення порядку ліцензування та проведення процедур AML та KYC, прогнозування реальних практичних кроків щодо запровадження пільгової системи оподаткування видобутку корисних копалин з подальшим внесенням змін до податкового законодавства.
Relevance. In modern conditions of integration with the EU countries, the regulatory framework of the socio-economic development of the regions of Ukraine is supplemented from the standpoint of decentralization of local authorities in accordance with European requirements for reforming the domestic economy. The main reasons for improving regional management, taking into account the experience of developed countries of the world, are: unsatisfactory level of financial support for the regions of Ukraine; improper delineation of administrative-territorial powers; unproductive distribution and redistribution of income and expenses between the state and regions; imperfect management of the processes of formation and use of financial resources at the local level. All this makes the balanced development of both the regions of Ukraine and territorial communities, the main subject of socio-economic progress of a certain territory, virtually impossible.Goal and tasks. Identification of challenges and threats to stimulate the socio-economic development of regions on the basis of financial decentralization.Results. The article presents the results of a theoretical and practical study of the process of stimulating the socio-economic development of the regions of Ukraine based on financial decentralization. The most significant problems of socio-economic development of Ukraine are identified. The role of state regional policy in solving these problems is revealed. The role of decentralization as a factor in regional development is substantiated. The essence of the concept of "decentralization" and its types is revealed, its mission is indicated. The results of observations of the processes of financial decentralization of local governments and territorial communities are presented. Positive changes and threats were identified regarding the stimulation of the socio-economic development of the regions based on financial decentralization.Findings. The financial decentralization of power has created new opportunities for the development of territories through new approaches to financing and managing the areas of community life (education and health), increasing the sources of local budgets, expanding the managerial powers of local governments and opportunities for publicprivate and inter-municipal partnerships, increasing the volume of supporting the implementation of projects of socio-economic and infrastructural development of territories. However, the issues of relations between such levels as the territorial community – district – region – state; financing of territorial development programs. The issue of economic self-sufficiency of territorial communities is not considered, which could, provided the rational use of the resource base, strengthen it and improve the financial situation. Consequently, the development of a territorial community at the local level is possible only if the correct state policy and the policy of local authorities based on financial decentralization are formed.
Svetlana Drobyazko, Roman Blahuta, V. Gurkovsky, Volodymyr Marchenko · 10 authors
The article discusses the issues of the legal control of cryptocurrency in the system of civil rights under Ukrainian law and bills submitted to the Parliament of Ukraine. It is proved that the emergence of cryptocurrency in developed countries is an evolutionary stage of the cash form. This requires changes in the legislation of legal and tax control, which are able to form a protective mechanism against cybercrime and fraud in the field of cryptocurrency circulation. The possibility of evaluating cryptocurrency as electronic means, currency values, information, money, intellectual law and other property is being considered. The risks of possible fraud of transactions with cryptocurrency as the consequences of unregulated legislation were analyzed. The prospects of the settlement of cryptocurrency circulation in Ukraine were considered.
The article investigates the theoretical foundations of the financial capacity of territorial communities. Parameters of estimation of territorial communities’ financial capacity in the context of achievement of administrative-financial decentralization results are characterized. The necessity of improvement of criteria of territorial communities’ financial capacity is determined in terms of identification of sources of personal income tax, number of operating enterprises in the territory of the territorial community and the number of payers. Attention is paid to the need of improvement of the methodological basis for calculating the taxability index by taking into account the size of the able-bodied population, the median distribution of income tax per capita weighted by the population, and inclusion in the calculation of Kyiv city budget. The peculiarities of formation and use of financial resources of the territorial communities of Lviv and Poltava regions are clarified. The scientific and methodological approach to the evaluation of the financial capacity of territorial communities is improved by determining the priority of their expenditures, the interdependence of their own revenues and transfers with the financing of public services at the level of territorial communities. The directions of increasing the efficiency of functioning of territorial communities are outlined. Based on the assessment of the interdependence of the amount of generated financial resources and the financing of public services at the level of the territorial communities of Poltava region, it is determined that the growth of own revenues should be ensured for their proper functioning, first of all, through efficient use of their own financial and economic potential; parity in the ratio of economic and social expenditures in order to generate long-term positive effects of socio-economic development of territorial communities; diversification of functional expenditures for comprehensive provision of public services at the level of territorial communities.
Использование криптовалют в международной практике говорит о том, что страны отличаются ее реализацией в обращении. Это объясняется, прежде всего, новизной этого инструмента и отсутствием единого определения категории «Криптология», которое бы раскрыло его суть. Положительное отношение к биткойнов характерно для развитых стран, а в развивающихся странах, есть некоторые ограничения в этой области. Также появление нового товара на рынке инновационных технологий привело к появлению нового объекта учета - электронных денег.
Поэтому страны на глобальном уровне должны регулировать систему налогообложения операций с криптовалютой; ввести методику ведения учета операций с ними для дальнейшего развития предприятий и их интеграции в глобальную экономическую среду.
The research is aimed at substantiating, defining and systematizing the theoretical and methodological basis for the formation of the fiscal space for the local self-government in the conditions of decentralization of public finance. The interrelation of principles of decentralization of the State power and the provision of fiscal independence of local self-government is defined. The article determines the desirability of supplementing the system of basic and key provisions presented in the studies on the redistribution of authorities in the financial sphere and the expansion of fiscal space in the context of of decentralization of the State power and the provision of fiscal independence of local self-government. The author’s own hypothesis concerning formation of the theoretical and methodological basis for the expansion of the fiscal space for the local self-government in conditions of financial decentralization is formulated. The main elements of the theoretical and methodological basis for the expansion of the fiscal space for the local self-government, characterizing the key issues and contradictions, which are manifested in the context of the implemented process of expansion of the fiscal space, the solution of which requires scientific substantiation and practical elaboration, are defined.
У статті на основі аналізу причин стрімкого падіння цінності криптовалют у 2018 р. і особливостей 17 альткоїнів з найбільшою ринковою капіталізацією зроблено висновки про вектори розвитку криптовалют і перспективи цього феномену. Виявлено вектори розвитку криптовалют: 1) валюти платформ для створення і функціонування децентралізованих додатків (Ethereum та альтернативні платформи: Eos (позиціонується як швидша, простіша, дешевша); Cardano (для фінансових додатків, що використовуються у щоденній діяльності); Neo (валюта платформи, дружньої до регуляторів (зокрема, китайських); Ehereum Classic – більш децентралізована, з більш строгою незворотністю транзакцій, ніж у Ethereum); 2) платформи для більш ефективних транскордонних платежів (Ripple та більш децентралізована альтернатива – Stellar); 3) вирішення технічних проблем біткоїна (Litecoin – більш зручна для дрібних трансакцій, Bitcoin Cash – альтернативне вирішення проблеми масштабування трансакцій); 4) полегшення торгівлі криптовалютами і вирішення проблеми їхньої волатильності – Tether; 5) внутрішні валюти криптовалютних бірж (Binance Coin); 6) збільшення анонімності трансакцій: Monero, Dash; 7) забезпечення транзакцій в Інтернеті Речей – IOTA; 8) універсальна валюта для віртуальних розваг – TRON. Обґрунтовано гіпотезу, що, не впоравшись з амбітною роллю альтернативи суверенним грошам ієрархічної природи, криптовалюти частково зійдуть до ролі віртуальних валют для локальних віртуальних просторів, а частково перенесуть частину своїх властивостей у традиційні платіжні системи, аби полегшити, скажімо, транскордонні транзакції. Загалом, процес поширення криптовалют синхронізується з процесом поширення інформаційно-мережевої економіки.
Maryna Dubinina, Svitlana Syrtseva, О. В. Буганов, N. Tusova
Introduction. Due to the rapid development of computer technology, their active implementation in all spheres of life, people began to solve everyday problems much faster. IT-technology is one of the most relevant branches of science at the modern stage of development of society, because today every company keeps records of its activities using computers. \n \nThus, in the future, the accounting sector is expected to undergo major changes, because the technology “Вlockchain” is actively implemented in the financial sector of the country. The investigated platform has an important property for accounting work, because the information created in this database can be trusted, even if there is no trust in the counterparty. The transaction is carried out only if it is approved by both parties. \n \nPurpose. The purpose of the article is to substantiate the feasibility of implementing Blockchain technology in accounting. \n \nResults. Proponents of technology believe that the new tool will be able to replace not only accountants, but also banking institutions and many financial intermediaries. According to the Blockchain Research Institute, Ukraine is included in the list of 14 countries which were recognized as leaders in the implementation of Blockchain. However, the state has to restructure huge systems with a large number of people to use this tool. It is also necessary to prepare legislation properly and take into account the fact that high energy costs are needed to support technology. \n \nThe technology aims to put an end to the traditional methods of invoicing, documentation, processing, registration, inventory systems and business payment. Вlockchain allows companies to record both sides of the transaction simultaneously in a shared workbook in real time and not store the reconciled entries of financial transactions in separate private created databases y or for the account books. The need for traditional double-entry accounting will be eliminated, as the verification of the legality of accounting will be fully automated. \n \nConclusions. Directions of use of technology in accounting require, first of all, proper preparation of legislation. Taking into account the prospects of using this tool, we can assume that the Blockchain will be used in Ukraine in 10-15 years and only when the national legislation is adapted to the new realities of the use of information technologies.