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Blockchain Technology: The Concept, Scope and Impact on Business
Lapko O. O., Solosich O. S.

Lapko, Olena O., and Solosich, Oleksandr S. (2019) “Blockchain Technology: The Concept, Scope and Impact on Business.” Business Inform 6:77–82.
https://doi.org/10.32983/2222-4459-2019-6-77-82

Section: Information Technologies in the Economy

UDC 004.75:338.22

Abstract:
The economic essence of the concept of "blockchain" has been concretized. It is proved that today the key area of the implementation of the blockchain technology is the financial sector, namely, payment systems built on the use of crypto-currency. On the example of Bitcoin crypt-currency, a thorough analysis of the role of cryptocurrencies in the financial system has been conducted. The prospects for using the blockchain technology in food production have been identified, where, through the development of modern systems of integrated supply chains, consumers will be able to control product quality, its organic origin, production technologies, concentrations of harmful substances. The possibility of using the blockchain technology in the real estate market, where it is possible to form electronic registries of land and real estate ownership with ensuring the security of this data, has been substantiated.

Keywords: blockchain technology, crypto-currency, bitcoin, payment systems, financial sector, food products, real estate market.

Bibl.: 11.

Lapko Olena O. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Finance and Accounting, International University of Finance (37 Peremohy Ave., Kyiv, 03056, Ukraine)
Email: [email protected]
Solosich Oleksandr S. – Student, Faculty of Management and Marketing, National Technical University of Ukraine «Igor Sikorsky Kyiv Polytechnic Institute» (37 Beresteiskyi Ave., Kyiv, 03056, Ukraine)
Email: [email protected]

List of references in article

Vakhrushev, D. S., and Zhelezov, O. V. “Kriptovalyuta kak fenomen sovremennoy informatsionnoy ekonomiki: problemy teoreticheskogo osmysleniya“ [Cryptocurrency as a phenomenon of the modern information economy: problems of theoretical understanding]. Naukovedeniye. 2014. https://cyberleninka.ru/article/n/kriptovalyuta-kak-fenomen-sovremennoy-informatsionnoy-ekonomiki-problemy-teoreticheskogo-osmysleniya
Petruk, O. M., and Novak, O. S. “Sutnist kryptovaliuty yak metodolohichna peredumova yii oblikovoho vidobrazhennia“ [The essence of the crypt is a methodological prerequisite for its accounting reflection]. Visnyk Zhytomyrskoho derzhavnoho tekhnolohichnoho universytetu. Seriia «Ekonomika, upravlinnia ta administruvannia», no. 4 (2017): 48-55.
“Finansovyi instrument“ [Financial instrument]. Natsionalnyi bank Ukrainy. 2018. https://bank.gov.ua/control/uk/publish/article?art_id=123708
All Cryptocurrencies. 2018. https://www.investing.com/crypto/currencies
“Bitkoin-statistika: skolko uzhe dobyto i skolko ostalos“ [Bitcoin statistics: how much has already been extracted and how much is left]. Cryptellect. 2018. https://cryptellect.net/bitkoin-statistika-skolko-uzhe-dobyto-i-skolko-ostalos/
“Is it worth worrying about bitcoin's growing electricity use?“ Quartz. 2018. https://qz.com/1281850/bitcoins-energy-consumption-is-as-much-a-year-as-all-of-ireland-says-the-first-peer-reviewed-study-on-the-subject/
“Poteryannyye sokrovishcha: kuda propali bitkoiny na neskolko milliardov dollarov“ [Lost treasures: where the bitcoins were lost for several billion dollars]. Forbes. 2017. http://www.forbes.ru/tehnologii/351153-poteryannye-sokrovishcha-kuda-propali-bitkoiny-na-neskolko-milliardov-dollarov
“Ukraina planiruyet do 2021 goda legalizovat kriptovalyuty. 2018“ [Ukraine plans to legalize cryptocurrencies by 2021.2018]. https://112.ua/obshchestvo/ukraina-planiruet-do-2021-goda-legalizovat-kriptovalyuty-467307.html
“Kitay obvalil tseny na vse osnovnyye kriptovalyuty: chto proiskhodit“ [China has fallen off prices for all major cryptocurrencies: what is happening]. UBR. 2018. https://ubr.ua/finances/exchange-market/kitaj-obvalil-tseny-na-vse-osnovnye-kriptovaljuty-chto-proiskhodit-3862982
“Cryptocurrency thefts, scams hit $1.7 billion in 2018: report“. Reuters. 2019. https://www.reuters.com/article/us-crypto-currency-crime/cryptocurrency-thefts-scams-hit-1-7-billion-in-2018-report-idUSKCN1PN1SQ
“Blockchain Gains Traction in the Food Supply Chain“. Forbes. 2018. https://www.forbes.com/sites/stevebanker/2018/07/25/blockchain-gains-traction-in-the-food-supply-chain/#614e57f81cf9

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