Blockchain Papers

Sinelnikova-Muryleva Elena

The concept of the emission and circulation of the digital ruble published by the Bank of Russia, suggests the active implementation of the intermediary functions between the end users and the digital ruble platform by credit institutions. In this regard, the risks of an outflow of deposits from the banking sector, strengthening of the regulator’s role in the payment and financial sector, as well as a wide range of technological risks due to the need to build a new ramified payment system based on distributed ledger technology remain relevant. The concept of digital ruble consolidates the significant advantages of its circulation: reducing the costs of making payments and increasing the availability of financial services for individuals and businesses through the use of the offline transactions and smart contracts. To assess the balance of risks and benefits from using the digital ruble, the Bank of Russia plans a phased launch of a pilot project for its digital currency.

Amalia Artavazdovna Arzikyan

No abstract is available for this record.

Nataliya A. Amosova, Anna Yu. Kosobutskaya, О.В. Лускатова, Annie V. Ravohanginirina

The chapter studies the problem of a possible influence of the unregulated use of blockchain technology on financial markets and regulation. The authors proceed from the assumption that development of new technologies used in financial markets is of great importance and, at the same time, see a threat to the stable functioning and regulation of financial institutions, primarily credit institutions. The correct solution of the question of the necessity and the limits of regulation of the blockchain technology usage in financial markets, in the authors' opinion, should be considered a factor of the financial markets' competitiveness improving.

Alexander Samoylov, Svetlana M. Molchanova

The article deals with the application of distributed ledger technologies in the material, information and financial flows of companies. The ability of the company to integrate and cooperate, to increase the efficiency and effectiveness of business processes when using blockchain technologies is substantiated. The factors affecting the stability of the supply chain are studied, the advantages and disadvantages of the implementation of systems based on the design of architecture and the creation of flowcharts for analyzing the suitability of applications for control systems for product promotion are highlighted. It explores the relationship between buyer-supplier relationships in cross-border e-commerce and the benefits of successful implementations of blockchain solutions in an interorganizational supply chain environment.

Olga Korobeynikova, Dmitry Korobeynikov, Mariya I. Kuzmina, Aleksandr V. Malofeev · 5 authors

No abstract is available for this record.

В. А. Бородин, E.A. Nagaeva

The article is devoted to the development of a methodology for using distributed ledger technology to identify unscrupulous counterparties of companies in the digital economy. In order to identify unscrupulous counterparties of companies, it is proposed to use the latest modern technology of distributed registries, namely, blockchain technology. The scheme of the "blockchain" operation at the conclusion of a transaction by companies and an example of identifying an unscrupulous counterparty on the example of four companies are presented. The advantages of using blockchain technology are the security and confidentiality of access to information, the guarantee of the correct reflection of the results of transactions for all participants of the distributed registry; automation of many processes of concluding transactions using an electronic digital signature.

М.Р. Хаджиев, Л. С.-Э. Батукаева, Х. Б. Межиева

На сегодняшний день создание и обращение негосударственных денежных знаков строго регламентируется на законодательном уровне в большинстве стран, и купить товар официально на данные средства достаточно проблематично. Одним из способов является возможность заказать товар через неофициальные каналы поставок. Появление подобных частных валют имеет свою историю. Появление Интернета неразрывно связано с возможностью беспрепятственного обращения материальных ценностей и реализации идей между людьми и различными субъектами. Этому способствовало появление криптовалют как виртуальных денежных единиц. Криптовалюта является финансовой негосударственной банкнотой, используемой в обращении индивидуальными субъектами. Смыслом существования таких денежных единиц является обеспечение преимущества перед государственной валютой. На всем протяжении существования нашей цивилизации имело место возникновение иных денежных форм. В середине 19 века в США и других развитых капиталистических странах появлялись массы денежных знаков, отличных от официальных государственных денег. Их выпускали не только крупные компании вроде банков, муниципалитетов и магазинов, но и частные лица. Ценность современных активов определяется их рыночной стоимостью, регулируемой продавцом и покупателем. Во многих странах криптовалюта сегодня является цифровым товаром. Однако важным вопросом на этапе создания криптовалюты является ее базовая стоимость. Для продуктивного использования криптовалют создаются блокчейн-технологии для их интеграции в проекты, решающие проблемы современного общества - это важный фактор успешного развития криптоэкономики. Nowadays the creation and circulation of non-state banknotes is strictly regulated at the legislative level in most countries and it is quite problematic to buy goods officially with these funds, one of the ways is to order goods through unofficial supply channels. The emergence of such private currencies has a history. The emergence of the Internet is inextricably linked with the possibility of the unhindered circulation of material assets and the implementation of ideas between people and various subjects. This was facilitated by the emergence of cryptocurrencies as virtual monetary units. Cryptocurrency is a financial non-government banknote used in circulation by individual entities. The raison d’être of such monetary units is to provide an advantage over the state currency. Throughout the existence of our civilization, other forms of money have emerged. In the middle of the 19th century, masses of banknotes, different from official state money, appeared in the United States and other developed capitalist countries. They were produced not only by large companies like banks, municipalities and shops, but also by individuals. The value of modern assets is determined by their market value, regulated by the seller and the buyer. In many countries, cryptocurrency is a digital commodity today. However, an important issue at the stage of cryptocurrency creation is its base value. For the productive use of cryptocurrencies, blockchain technologies are being created for their integration into projects that solve the problems of modern society - this is an important factor in the successful development of cryptoeconomics.

Krzysztof Marecki, Agnieszka Wójcik-Czerniawska

The purpose of the article is to show how to use relatively new and very innovative Blockchain technology to improve the food supply chain. In countries such as the United States or Thailand is starting to be an indispensable element in the agri-food sector. At the outset, it should be said what the Blockchain technology is, the use of which is becoming very broad in many sectors of the economy, including in the area of monetary policy of the state. It is used when creating virtual money, i.e. cryptocurrencies, which, despite the controversy they arouse, as well as the world of virtual finance in the COVID-19 era, begin to play a significant role. Blockchain (BCT) in the case of the food supply chain, despite the fact that it is a relatively new digital technology, may revolutionize its functioning. This technology is designed to provide the possibility of storing information in a database of transactions and products, which is decentralized and distributed and not susceptible to changes and manipulations. BCT believes it can play a positive role in ensuring food safety and quality. The main benefit of using this technology is the increased transparency of food supply chains. BCT makes it possible to increase the efficiency of tracking systems and identification of agri-food products in the supply chain. This means that thanks to BTC, it is possible to reduce the number of cases of food adulteration and the unauthorized use of food quality certificates. Nevertheless, BCT, due to the fact that it is a new technology, is not fully developed, i.e. the possibility of scaling BCT may turn out to be ineffective in more extensive and complex supply chains including multi-component products. In addition, it should be remembered that this technology is associated with barriers of a social, economic, legal and financial nature, which may adversely affect the further use of BCT in food supply chains. Despite the growing interest of agri-food sector enterprises in using BCT, its implementation in food supply chains may progress slowly.

V. V. Godin, А. Е. Терехова

No abstract is available for this record.

O. A. Ageeva, Marina V. Karp, Anton Sidorov

No abstract is available for this record.

Anton D. Bezdelov, Е. Логинова

Changing behavioral skills of consumer financial services and the growing competitive pressure of startups are destroying traditional business models and prompting the creation of new strategies. For this reason, banks and other regulated financial intermediaries strive to quickly master developments in the field of financial technologies and change the formats of customer service, taking into account the capabilities of their budgets. The existing methods of making cross-border transfers and non-cash payments using their traditional forms, as well as new-generation digital financial instruments, are not supported by a high-quality regulatory framework. In this regard, it is important to study the stages of transformation of forms of interaction between participants of non-cash payments under the influence of the scientific and technical process, a comparative analysis of modern methods of international payments, and justification of mechanisms for integrating digital financial instruments based on distributed Ledger technology into cross-border settlement and payment operations. We also analyzed internal Bank programs for organizing internal control and managing Bank risks, using the example of Sberbank. The results of the study of these problems are reflected in this article.

U. M. Kaplanov

In this article, the author considers the role of distributed registries in improving the modern payment system. The essence of the distributed ledger mechanism is analyzed. The advantages and disadvantages of using distributed registries in the development and implementation of payment systems are identified.

S. E. Demidova

The article is devoted to the consideration of the features of the financial system development in the conditions of technological change, total digitalization of economic activity and social relations. The study presents current Russian and foreign practices and trends in the development of digital technologies in the financial system. The author critically examines the formation of institutions, the use of new tools and mechanisms in the decentralized sphere and the sphere of public Finance. The risks of digitalization that pose threats to certain elements of the financial system are identified. There is no conflict of interests.

A. V. Reshetniak, В. И. Дравица

The article covers the possibilities of comprehensive use of identification technologies and Distributed Ledger Technology (DLT) for increasing the efficiency of electronic services provided through multi-purpose student cards. The main advantages and disadvantages of the existing intellectual document emission systems in the Belarusian education system are assessed, including: centralized (the “Student Card” project) and decentralized (the electronic student card) ones. The proposal to use the DLT-model for issuing multi-purpose electronic student cards combined with bank payment cards has been grounded. Such model makes it possible to implement new functional capabilities when providing electronic services and has a number of advantages over the existing systems of electronic student documents issuance. The article describes how Public Blockchain and Private Blockchain can be used to issue and control intellectual documents, to accelerate the development of the electronic services provided through Smart Contract, and how the Smart Contract technology can be used to promote fair competition among electronic services providers. The methodology of evaluating the electronic services provider rating basing on the weighting factor of “usefulness” or “being in demand” is proposed. The article provides information on the expected effects of the proposed DLT-model implementation, obtained through the comprehensive use of identification technologies and distributed ledger technology.

Marina Afanasievna Lapina, Ekaterina Alexandrovna Pogrebinskaya, В. Н. Назаров, Petr Katys

The article is devoted to studying the current state of legal regulation of cryptocurrency circulation. Cryptocurrency has appeared relatively recently and immediately gained popularity among a certain part of users of modern financial services, as well as a misunderstanding or even complete rejection by others. In different states, the attitude to cryptocurrency also varies. Some countries, while allowing for the circulation of cryptocurrency, are developing its legal regulation, others have failed to find a better solution than to impose restrictions or even a complete ban.

Alexander Smirnov, Leonid Sheremetov, Nikolay Teslya

No abstract is available for this record.

Yulia Vertakova, Т. А. Головина, A.V. Polyanin

No abstract is available for this record.

Mariia Sigova, Valery Alexandrovich Dolbezhkin, Artem Koltsov

The article is devoted to the discussion of urgent problems of developing financial services projects of retail. They are based on a combination of the capabilities of existing social networks and distributed ledger technology (DLT), as new subjects of competition in the banking sector of the market. The threat to commercial banks is determined by the risk of loss of income, in particular, commission income from transfer transactions that are already being executed in the social media environment, and which have the potential for growth in turnover. Despite the active development of crypto-innovations (algorithms, platforms, actually cryptocurrencies), the use of distributed ledger technologies by the banks themselves in the financial sector is still very modest. At the same time, social networks with a huge client base show an obvious interest in fintech prospects. These two components of the projects under discussion are contradictory and the success of integration is not obvious. Therefore, it is of interest to researchers in the financial sector. The author consider the main, from their point of view, properties of social networks, payment services and distributed ledger technologies that are significant for the projects under consideration and the issues of banks' competition with them.

Dmitrii Gubanov, Матвей Оборин

The digitization of economic activity creates new opportunities for increasing the goods production level in conditions of severe resources limitation. Significant optimization can be achieved due to, firstly, reduction the costs of transactions, and, secondly, engagement in the economic turnover of poorly low nondistributable assets (for example, real estate). The paper studies the problems regarding applicability of smart contract in economic activities at the regional and federal levels. An attempt is being made to form a decentralized system of smart contracts. Based on the component-based analysis, the key trends of this system effect on the gross output at the federal and regional levels are determined. The authors propose a quantitative assessment of the impact of each of these factors. The macroeconomic model IS-LM is used, which takes into account the impact of digitalization processes in terms of implementing the smart contracts system, on the aggregated output indicators of the economic system.

Dmitriy Nazarov, Антон Назаров, Elena Kulikova

No abstract is available for this record.

Leyla Gamidullaeva, Alexey Finogeev, Alexey Finogeev, Антон Финогеев · 7 authors

No abstract is available for this record.

M. R. Pinskaya, K. N. Tsagan-Mandzhieva

The subject of the research is the tax burden of organizations engaged in new types of activities using digital information and communication technologies. The purpose of the research was to determine the specific features of the crypto economy to be taken into account in the development of measures for the tax regulation of organizations in the digital economy. It was established that the transformation of approaches to information exchange allowing economic agents to make transactions on the basis of digital platforms not linked to the geographical borders of states makes legal entities and individuals more reluctant to delegate some of the powers to the state as an institution of power. The paper classifies foreign practices of direct taxation of incomes from purchase and sale of crypto-currency, which made it possible to identify prospects for the development of tax regulation in Russia. The conceptual scenarios of taxation of cryptoproducts are analyzed and it is concluded that in creating a cryptocurrency the deferred recognition of the object of taxation is advisable in order to reduce the tax risks of users.

I. D. Buldin, Mikhail Gorodnichev, S. S. Makhrov, Elena Denisova

The article presents a study in the field of development of next generation industrial blockchain-based wireless sensor networks. These sensor networks allow you to transfer and store data in accordance with the concept of the blockchain, ensuring the immutability of data and the use of smart contracts. A model of blockchain capable of working in the networks of the Internet of things, part of which are wireless sensor networks, has been developed.

Alexey Finogeev, Sergey Vasin, Leyla Gamidullaeva, Данила Парыгин

The paper covers the issues of development of a mechanism for ensuring reliable and secure interaction among participants in regional innovation systems based on the establishment of smart contracts in the blockchain. The technology allows to reduce the possibility of fraud by dishonest participants, as well as to exclude the need for a third party by transferring its functions to a smart contract. This mechanism is important for ensuring confidential and transparent relations between participants in innovative projects, as well as with all interested stakeholders in regional economic system.