ПЕРСПЕКТИВИ РОЗВИТКУ БЛОКЧЕЙН ТЕХНОЛОГІЙ У СФЕРІ ГЛОБАЛЬНОГО ФІНАНСОВОГО РИНКУ

Olha Smahlo

doi:10.32782/2524-0072/2024-60-69

Olha Smahlo Vinnytsia Educational and Scientific Institute of Economics of the WUNU https://orcid.org/0000-0002-5856-6053

DOI: https://doi.org/10.32782/2524-0072/2024-60-69

Keywords: blockchain, financial technologies, cryptocurrency, innovation, smart contracts, transaction, digital economy

Abstract

This article is an attempt to open a framework for introducing and demonstrating the use of blockchain technology in many economic applications. These concepts are transferable to a wide range of industries, such as finance, government and manufacturing, where security, scalability and efficiency must be combined. Blockchain is a modern technology that provides trust and reliability in various business operations. This is because it has specific characteristics such as a decentralized, immutable ledger and cryptographic solutions. In addition, various critical business operations require security and privacy solutions and rely on blockchain technology to provide a feasible solution to mitigate security risks. However, it is difficult to decide which type of blockchain should be adopted to face security threats. Taking care of the above objectives, this chapter conveys the basics of blockchain technology, which briefly discusses blockchain and its architecture, as well as its needs and features. The financial sector also helps create retirement savings and generally provides jobs and income to millions of people. That is why the issue of studying blockchain technology is relevant, not only for practical work with cryptocurrencies, but also for analyzing its future implementation in the financial and economic sector. However, due to the novelty of the technology, there is a need to study existing problems and ways to solve them. The main and main feature of the blockchain is the use of software computing algorithms, as well as the exclusion of third-party intervention in the work and minimizing the influence of the human factor when making decisions by the system. In this regard, it is important to analyze how this technology is already used by leading companies and developed countries in the world. Blockchains are a rapidly evolving area of research and development, so an overview of this emerging technology is necessary to improve understanding, awareness of blockchains, and realizing their potential.

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