АНАЛІЗ ВПЛИВУ ТЕХНОЛОГІЇ БЛОКЧЕЙН НА ФІНАНСОВУ СИСТЕМУ

Abstract

The development of modern science does not stop, and new approaches and technologies are constantly appearing. A vivid example of new technologies is blockchain technology and its application in the financial sector. The article presents an analysis of the future development of blockchain technology. A review of modern studies in the field of application of blockchain technology in financial systems is given. The need for a long-term impact analysis of this technology on the financial system is justified because the technology's potential is not yet fully disclosed. Of course, because existing financial sectors, in particular, cryptocurrency generation, have incomprehensible prospects from economic and legal points of view. In the study, an analysis of this technology was conducted compared to the development of other fundamental technology that has changed the way of life and worldview over the past 30 years, namely the Internet. It was noted that a significant variation in the modern development of blockchain technology is that the early Internet was completely non-commercial. Internet was developed for military goals and used by scientists for communication between research institutes and universities. This difference was critical and allowed to form of the modern network architecture of the Internet. To make it in commercial conditions was problematic. The natural commercialism of the blockchain has led to the situation that today there are no general principles for regulating and use of modern financial technologies based on blockchain, both globally and nationally. The technological bases of cryptocurrency generation and the economic consequences of their circulation on the financial system are also considered in the work. So, need to develop basic principles for the generation, accounting, and circulation of cryptocurrencies at the national level, considering aspects of information and financial security. The need for further research is determined by the high speed of technology development. Areas of promising research in this context may be the use of technology in the commercial activities of enterprises and in the field of public administration and regulation in the financial sector.