Blockchain technology use in economic practice

Authors

  • Alexander S. Pryakhin I.T. Trubilin Kuban State Agrarian University, Krasnodar, Russia
  • Maxim S. Komarov I.T. Trubilin Kuban State Agrarian University, Krasnodar, Russia
  • Oksana V. Kosnikova I.T. Trubilin Kuban State Agrarian University, Krasnodar, Russia

Keywords:

blockchain, distributed data ledger technology, decentralisation, distributed data, digital technology, information technology, digitalisation

Abstract

This paper discusses the application and impact of blockchain in economic models. An economic model is a group of relations, rules, and models reflecting economic relations in society. They are formed at the stage of production activity formation, exchange, consumption of economic goods. It allows one to focus on the main elements of the system and their interrelationships. The economic model has many classifications and patterns applied in macroeconomics. Blockchain is a computer paradigm represented by a chain of consecutive blocks. This technology is based on peer-to-peer networks. According the model, trust to the participants is embedded at the level of the protocol, which initially builds economic relations between the participants. The use of distributed registry technologies in a wide range will effectively expand economic models.

References

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Published

2023-12-30

How to Cite

Alexander S. Pryakhin, Maxim S. Komarov, & Oksana V. Kosnikova. (2023). Blockchain technology use in economic practice. JOURNAL OF REGIONAL AND INTERNATIONAL COMPETITIVENESS, 4(4), 63. Retrieved from http://jraic.com/index.php/tor/article/view/150