THE STATE OF IMPLEMENTATION OF BLOCKCHAIN TECHNOLOGY IN THE ECONOMY OF UKRAINE, TAKING INTO ACCOUNT THE CHALLENGES OF TODAY

Abstract

The purpose of this article is to analyze the readiness of Ukraine's economy to implement blockchain technology, taking into account the current state of the legislative framework, the development level of the IT sector, and the state's financial capabilities. The topic is highly relevant since blockchain technology is recognized as one of the key components of the digital transformation of the economy, contributing to greater transparency, reducing corruption risks, and stimulating innovative development. Given the current challenges of war and economic instability, studying this issue is particularly important to determine the prospects for adapting innovative technologies in Ukraine. The study employed methods of analysis, synthesis, comparison, and systematization, enabling a comprehensive evaluation of the state and prospects for implementing blockchain technology. The analysis of the legislative framework involved reviewing the law "On Virtual Assets" and other regulatory acts affecting the legal regulation of blockchain technologies in Ukraine. The assessment of the IT sector focused on examining its human capital, technical infrastructure, and the ability of the industry to adapt to the conditions of martial law. Financial aspects were analyzed through the availability of investments, state support for innovative projects, and the financial stability of enterprises capable of integrating blockchain solutions into their operations. The study revealed that despite certain achievements in digitalization, the implementation of blockchain technology in Ukraine faces numerous challenges. The legislative framework requires further refinement, particularly in developing mechanisms to protect user rights and address the taxation of virtual assets. The IT sector showcases a high level of professionalism among specialists; however, the technical infrastructure remains underdeveloped due to the impacts of military operations. Financial resources for large-scale blockchain implementation are limited, further complicating the integration of innovative solutions. The practical value of this article lies in identifying key barriers and opportunities for implementing blockchain technology in Ukraine. The findings can be utilized to develop strategies for digital economy growth, improve legislation, and attract investments in the blockchain field. Additionally, the conclusions can help raise awareness among government agencies, businesses, and the public about the potential of this technology in Ukraine's economic and social transformation.