The article considers current legal issues of implementation and use of smart contracts in the sphere of capital construction. It is shown that an objective need of capital participants to conduct electronic transactions, store and process legally significant information, and conclude smart contracts has been formed. The rapid development of high technologies has inevitably led to the need to use smart contracts in the sphere of capital construction as a mechanism for quick transactions. A smart contract is a legal form of obligatory relations in the sphere of capital construction, a special means of forming and expressing the will of participants aimed at creating the desired legal consequences. The use of smart contracts will allow developing and simplifying the interaction of participants in the construction process itself, increasing their level of trust, and accelerating mandatory procedures.
Mazkur ilmiy tezisda blokcheyn texnologiyasining xavfsizlik jihatlari, ayniqsa markazlashmagan tarmoqlarda yuzaga keladigan asosiy tahdidlar va ularni bartaraf etish usullari tahlil qilinadi. Tadqiqot davomida 51% hujumi, Sybil hujumi, Double Spending, smart-kontrakt zaifliklari, kriptografik kalitlar bilan bog'liq muammolar hamda DDoS hujumlarining blokcheyn infratuzilmasiga ta'siri o'rganildi. Shuningdek, Proof-of-Work, Proof-of-Stake, Multi-signature, shifrlash algoritmlari va audit mexanizmlarining xavfsizlikni ta'minlashdagi roli ilmiy manbalar asosida tahlil qilindi. Tadqiqot natijalari blokcheyn texnologiyasining yuqori darajadagi himoya imkoniyatlariga ega ekanligini ko'rsatsa-da, inson omili va dasturiy zaifliklar sababli xavfsizlikka tahdidlar saqlanib qolayotganini ko'rsatadi.
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2 source records
Economic and Industrial Development
Advanced Computational Techniques in Science and Engineering
The development of small business at the regional level is one of the key factors ensuring sustainable economic growth, employment expansion, and reduction of territorial disparities. In emerging economies, particularly in Uzbekistan, small business entities play a significant role in generating income, stimulating entrepreneurial activity, and strengthening regional economic resilience. However, despite large-scale reforms aimed at supporting entrepreneurship, substantial differences remain among regions in terms of access to finance, infrastructure quality, market opportunities, and institutional efficiency.This article examines the economic mechanisms of small business development in the regions of Uzbekistan through a comparative analysis of international practices, including the experiences of the United States, Germany, and South Korea. The study applies comparative, statistical, institutional, and analytical methods to evaluate the effectiveness of financial-credit instruments, tax incentives, innovation infrastructure, and decentralized governance models.The findings demonstrate that successful regional small business development depends on the coordinated interaction of three major factors: effective financial mechanisms, adaptive institutional systems, and developed entrepreneurial infrastructure. The study identifies the main constraints in Uzbekistan, including centralized management, weak regional financial institutions, and uneven territorial development.Based on the results, several policy recommendations are proposed, including decentralization of support mechanisms, expansion of regional financing instruments, development of business incubators and technology parks, and implementation of differentiated regional entrepreneurship strategies. The practical significance of the study lies in developing proposals aimed at improving the competitiveness and sustainability of small business entities in the regions of Uzbekistan.
А. А. Kalinin, А. V. Oleynikova, А. V. Bashirov, Т. А. Khanov
This article presents the development of a blockchain-based smart contract aimed at addressing key issues in Kazakhstan’s energy sector. The research demonstrates the effectiveness of blockchain technology in automating energy transactions and improving transparency, security, and efficiency in the industry. A smart contract prototype was designed on the Ethereum platform using the Solidity language to automate electricity supply agreements, including energy delivery recording, payment handling, and tariff management. The contract was developed with consideration of local regulatory and infrastructure specifics and incorporates features like role-based access control and automatic enforcement of penalties for overuse. The proposed solution was thoroughly tested for functionality and security. The results show that the smart contract operates reliably under various scenarios and can significantly streamline settlements between energy providers and consumers, reduce operational costs, and increase trust. The scientific novelty of the work lies in adapting smart contract technology to the conditions of Kazakhstan’s energy market. The practical significance is that energy companies and regulators can implement this blockchain solution to enhance efficiency and transparency. The findings provide a foundation for further digitalization of the energy sector, including future integration of renewable energy sources and development of decentralized energy markets. Keywords: blockchain, smart contract, Ethereu, energy sector, energy market.
В работе исследуется трансформация рынка факторинга под влиянием внедрения технологии смарт-контрактов на основе технологии блокчейна. Рассматриваются финансовые аспекты: изменение структуры транзакционных издержек, минимизация рисков, повышение ликвидности за счет выхода на глобальные рынки капитала через DeFi-протоколы. На основе анализа данных Национального статистического комитета Республики Беларусь (Белстат) за 2025 г. и прогнозов на 2026 г. демонстрируется взаимосвязь между цифровизацией и ростом эффективности факторинговых операций. Особое внимание уделяется сравнению традиционной модели с инновационной моделью смарт-контрактинга. Проведенный анализ показывает, что применение смарт-контрактов позволяет не только ускорить оборот денежных средств, но и решить проблему асимметрии информации, что особенно критично для финансирования малого и среднего бизнеса.
This article explores the role of digital financial instruments in increasing the availability and sustainability of financing in the construction industry. These instruments are characterized as a set of innovative solutions and mechanisms based on the use of digital platforms, distributed ledgers, and smart contracts to optimize the processes of attracting, distributing, and monitoring financial resources in the investment and construction cycle. The study illustrates the impact of digital transformation on the financial availability of construction projects and the evolution of new forms of capital raising. It emphasizes that financial stability and availability of financing are key benchmarks that construction companies aim to achieve through the digitalization of financial processes. The final section summarizes the role of digital financial instruments in transforming the construction industry and ensuring sustainable economic growth.
Ushbu maqolada blokcheyn texnologiyasining kelib chiqisht ishlash mexanizmi, kriptografik asoslari va real sektor uchun taqdim etayotgan ustunliklari yoritilgan shuningdek, blokcheynning tranzaksiyalarni tasdiqlash jarayoni, minerlarning vazifalari hamda xesh funksiyalari orqali ta'minlanadigan xavfsizlik mexanizmlari ko'rib chiqiladi. Maqolada pul o'tkazmalari misolida blokcheynning an'anaviy tizimlardan ustun jihatlari tahlil qilinadi va turli sohalarda qo'llanilishiga doir amalty misollar keltiriladi
Актуальность исследования обусловлена стремительным развитием криптовалютного рынка и растущим интересом инвесторов к альтернативным способам получения дохода. Одним из таких инструментов становится стейкинг криптовалют, позволяющий получать вознаграждение за участие в поддержании блокчейн-сетей. Проблематика развития данного инструмента заключается в недостаточной осведомленности инвесторов о механизмах стейкинга, его разновидностях, рисках и потенциальной доходности, особенно на фоне высокой волатильности крипторынка. Цель статьи – проанализировать стейкинг как форму альтернативного инвестирования, определить его преимущества и уязвимости, а также оценить перспективность для различных категорий инвесторов. В рамках исследования авторами применены методы сравнительного анализа, теоретического обзора источников, а также произведена оценка рисков и доходности на примерах конкретных криптовалют и платформ. В статье рассматриваются основные виды стейкинга: фиксированный, гибкий, ликвидный и делегированный. Приведены примеры популярных криптовалют, таких как Tezos, Cardano, Algorand, Polkadot и Ethereum, использующих алгоритм консенсуса Proof-of-Stake (PoS - доказательство доли владения), и сопоставлены их потенциальные доходности. Результаты исследования показывают, что при грамотном подходе стейкинг может быть эффективным инструментом создания пассивного дохода. Выявлены ключевые риски: волатильность, ограниченная ликвидность, угроза потери активов и технические сложности. Научным результатом являются предложенные стратегии минимизации рисков, включающие диверсификацию, выбор ликвидных активов и использование проверенных платформ. Таким образом, стейкинг представляет собой перспективный и гибкий инвестиционный механизм в рамках цифровой экономики. The relevance of the study is due to the rapid development of the cryptocurrency market and the growing interest of investors in alternative ways of generating income. One of these tools is cryptocurrency staking, which allows you to receive rewards for participating in the maintenance of blockchain networks. The problem with the development of this tool lies in the lack of investor awareness about staking mechanisms, its varieties, risks and potential returns, especially against the background of high volatility of the crypto market. The purpose of the article is to analyze staking as a form of alternative investment, identify its advantages and vulnerabilities, and assess its prospects for various categories of investors. As part of the study, the authors applied methods of comparative analysis, a theoretical review of sources, and an assessment of risks and profitability based on examples of specific cryptocurrencies and platforms. The article discusses the main types of staking: fixed, flexible, liquid and delegated. Examples of popular cryptocurrencies such as Tezos, Cardano, Algorand, Polkadot, and Ethereum using the Proof-of-Stake (PoS proof of ownership) consensus algorithm are given, and their potential returns are compared. The results of the study show that, with the right approach, staking can be an effective tool for creating passive income. Key risks have been identified: volatility, limited liquidity, the threat of asset loss and technical difficulties. The scientific result is the proposed risk minimization strategies, including diversification, the choice of liquid assets and the use of proven platforms. Thus, staking is a promising and flexible investment mechanism within the digital economy.
This paper explores the transformation of traditional financial institutions under the impact of the development of decentralized finance (DeFi). It highlights how blockchain technology and DeFi are changing the way financial transactions are conducted, enabling transactions without traditional intermediaries such as banks. Key benefits, such as reduced transaction costs and increased accessibility to financial services, are discussed, while risks, including cryptocurrency volatility and smart contract vulnerabilities, are highlighted. Special attention is paid to the need for comprehensive legislation to protect market participants and maintain economic stability in the context of rapid development of decentralized finance.
A. N. ASAUL, M. A. ASAUL, I. V. DROZDOVA, G. F. TOKUNOVA
Based on an analysis of the Russian and international (European, American, and Chinese) investment and construction sectors, an assessment is made: the European investment and construction sector is socially responsible and regulated, the American sector i s market- efficient and decentralized, and the Chinese sector is large-scale and mobilized under state control. For Russia, the authors argue, it is valuable to implement best practices in long-term financing (e.g., green bonds), improve urban planning, while maintaining market dynamics and flexibility.
Historical advancements in science, Technology, transportation, and communication enabled the exchange of human civilizations, urged leisure and tourism growth, and stimulated economic and industrial development by shaping the development of modern cities. Traditional approaches for smart tourism management system had several challenges which includes, limited personalized recommendations, limited collaboration between stake holders, less robust security. Therefore, this paper proposes Smart Tourism Management System which is built on Java Enterprise Edition (EE)-Ethereum Virtual Machine (EVM) architecture. This application has a user-friendly front-end portal which provides tourists with features such as login, registration, personalized planning, and information on attractions and services. Then, the back-end portal is built which includes service registration, verification, secure wallet systems, booking, and payment processing. To guarantee security and transparency, the system incorporates smart contracts and block chain Technology by leveraging Java EE-EVM to interact with the block chain and execute logical operations. The proposed Java EE-EVM for smart tourism management system achieved better SDGs, SDG 8 achieved many indicators like T-1, T-2, T-3, T-4, T-5, T-6, T-7, T-8, T-9, TT-1, SDG 11 achieved important indicators like S-9, S-10, S-11, S-13, SDG 15 achieved relevant indicators are S-14, S-2, TE-3, TE-8 when compared with existing DMS-Java EE.
Anton Krivonogov, K. Starodubov, Andrey Elistratov, R. Doroshenko
The article deals with the use of LR-type fuzzy number methods for processing uncertain and fuzzy data on the parameters of criticality of a defect in a smart contract estimated using the direct expert assessment method. To assess the final defect criticality level of a smart contract, it is proposed to use a nonlinear optimization method including gradient descent method to formulate the problem as an optimization problem where the objective is to maximize the objective function (or fitness function) that reflects the defect criticality. The results of the study will enable smart contract designers to more accurately determine the criticality of the detected defects and take effective corrective measures to ensure the sustainability of the smart contract.
This article describes the role and importance of the investment climate in the economic development of the country, the content of the Investment Program for 2021-2023, sources of centralized financing of investments in fixed assets in the Republic of Uzbekistan, decentralized sources of financing. issues such as reforms in attraction, investments made by international financial institutions were considered and recommendations were made.
The article highlights the problems of improving technical and legal regulation in the field of placement, construction and operation of decentralized drainage systems on land plots provided for individual housing construction. The authors point out the need to improve regulation in the field of organization and use of autonomous wastewater disposal systems within the framework of two main directions – organizational and technical and legal. As part of the organizational direction of problem solving, the authors point out the need to ensure the coordinated development of settlements by ensuring the design and construction of new central sewer networks and reconstruction of existing ones. Improvement in the technical and legal sphere is aimed at optimizing technical and legal norms, in terms of amendments to the current legislation and modernization of technical and legal norms - standards (sets of rules).
Open access
Advanced Energy Technologies and Civil Engineering Innovations
Banking & financial sector in India is reshaping rigourously as the technological disruptions are spreading<br> through Fintech, RegTech, SupTech, Robo-advice & so on. Adoption of Machine learning, Artificial<br> Intelligence, Distributed Ledger Technologies are bringing paradigm shift in banking sector. RegTech is a<br> technology to be used for regulatory functions by financial authority say RBI whereas SupTech represents<br> technology for supporting regulatory supervision functions. Robo-advice is machine-based programme that<br> helps corporates to predict risk of project in advance & design pro-active & protective measures
The housing problem in the Russian Federation is one of the strategic and priority directions of social and economic policy of the state. According to the housing commissioning figures for the last three years, it can be concluded that the housing problem in the Russian Federation can be solved by building low-rise houses using large-panel housing construction technology. In the current phase of development, low-rise large-panel housing construction cannot function in the mode of self-sustained autonomous existence. The segment in question is not primarily experiencing a shortage of funds, but a lack of strategic and managerial component, which is expressed in the absence of a mechanism of interaction between the participants of the investment and construction process. To reduce management decision-making uncertainty in the implementation of large-scale low-rise construction projects, the article proposes a model of a large-scale low-rise construction consortium, which acts as an integrated organizational and production structure that seeks to find a balance between centralization and decentralization of management. The consortium model unites construction enterprises, manufacturers of building materials, suppliers of material, labor, scientific and investment resources organized into the main technological chain of value-added to ensure technological development of large-scale low-rise construction. The analysis of the developed consortium model allowed us to determine the effectiveness of the proposed measures, which lies in the possibility of significantly reducing the cost of construction and installation work and, consequently, increasing the competitiveness and profitability of the final product, both for consumers and for the consortium members.
Цифровая трансформация строительной сферы является одним из ключевых направлений государственной политики в России. Данное обстоятельство обуславливает актуальность выбранной темы. В статье предложено внедрение технологии смарт-контрактов для регулирования взаимоотношений между участниками инвестиционного процесса в жилищном строительстве. Внедрение данной технологии позволяет автоматизировать весь документооборот, в том числе связанные с условиями оплаты сделок между участниками. Также смарт-контракты подразумевают уменьшение числа вовлеченных людей; полную прозрачность ответственности и бюджета; способствуют повышению эффективности взаимоотношений всех участников договора в условиях цифровой трансформации национальной экономики. The article proposes the introduction of smart contract technology to regulate the relationship between participants in the investment process in housing construction. The introduction of this technology allows you to automate the entire workflow, including those related to the terms of payment of transactions between participants. Also, smart contracts imply a reduction in the number of people involved; full transparency of responsibility and budget; contribute to improving the effectiveness of relationships between all parties to the contract in the context of digital transformation of the national economy.
Блокчейн тақсимланган реестр технологияси (distributed ledger technology) номи билан ҳам кенг тарқалган бўлиб, ўзида турли транзакциялар ва операцияларни блоклар занжирида тарқатилган тартибда сақлайди ҳамда ушбу амалиётларни амалга оширишда учинчи тараф талаб этилмайди. Ҳозирги кунга қадар ушбу технология ўзгармас эканлиги (хавфсизлик нуқтаи назаридан), яхлитлиги ҳамда ишончлилик ҳолатларини аллақачон исботлаб улгурган. Ушбу мақолада мавжуд технологиянинг ақлли тизимлар хавфсизлиги ва ишончлилигини таъминлашда фойдаланиш ҳолатлари ўрганиб чиқилган.
Open access
Education, Innovation and Language Studies
Advanced Computational Techniques in Science and Engineering
Мaryna Chyzhevska, Olga TYMOFEIEVA, Hanna Sydorenko-Melnyk
The aim of the article is to substantiate the integral approach to residential property building state policy implementation in the context of the power decentralization. The objectives in the article are achieved using the following research general and special methods: analysis and synthesis, systematization and generalization, dialectical approach, causation. The integrated approach to implement the state policy on residential property building at the expense of the population has been further developed. This approach is based on decentralization of the state regulation of residential property building industry. Structural and logical scheme of the existing system of residential property building industry state regulation at the expense of population was formed. This will allow the solution of the problems in the process of residential property building on spots in a fairly short time due to the efficient distribution of functions among the various branches of state power and their assigned responsibility. The stages of renewal of financing the process of residential property building under the principle of decentralization are presented in the work. The article substantiates that the application of an integral approach to implement the state policy of residential property building, based on the principle of power decentralization. It will allow the increase in the level of public confidence in the residential property building industry. Given the experience of solving the housing problem in different countries, we suggest to build the state housing policy in Ukraine, taking into account the specific opportunities available and financial instruments already existing.
Jan 1, 2020·Proceedings of the 2nd International Scientific and Practical Conference “Modern Management Trends and the Digital Economy: from Regional Development to Global Economic Growth” (MTDE 2020)
Larisa Yuzvovich, Oksana A. Boytush, L.M. Pustovalova
The Russian economy is gradually evolving towards the Western model of financing of growth. The availability of sources of financing of investments is currently one of the main problems in investment activity. In many countries of the world, the number of sources of financing exceeds the number of sources of financing in Russia. With the transition of Russia to market relations, there is a heavy deficit of sources of financing. The system of financing of investments consists of an organic unity of sources of financing of investment activity and investment methods. Financing of investment projects can be carried out from either one or several sources. In general, all sources of financing are divided into: centralized (budgetary) and decentralized (extra-budgetary). Centralized sources usually include federal funds, funds from the budgets of the constituent entities of the Russian Federation and local budgets. All the rest are decentralized. Extrabudgetary funds include own funds of enterprises and organizations, borrowed, external funds, funds of extrabudgetary funds, private developers, foreign investments.
The problems of formation of revenues of local budgets are investigated in the article. It has been established that significant centralization has affected the reduction of financial independence of local selfgovernment bodies. Changes in the management of local budgets caused by the introduction of a decentralized model encourage local self-government bodies to attract additional financial resources and form a certain economic potential. The feasibility of introducing a public-private partnership through the application ofdifferent methods and tools based on the form of interaction of project participants is substantiated. Suchcooperation requires the organization of complex, mixed private-public structures that can provide largescale infrastructure projects with resources. The advantages of project financing of economic development ofterritories in the framework of public-private partnership (PPP) are revealed.In order to ensure the financial attractiveness of projects implemented on the basis of public privatepartnership and aimed at ensuring the sustainable economic development of regions, it is recommended touse organizational models such as DBFO (Design, Build, Finance, Operate) and DBO (Design, Build, Operate).