Opportunities for the Development in Russia of the Use of Blockchain Technologies in the Financial Sector

Abstract

Currently, currency, commodity, and stock exchanges have come under the influence of the introduction of a new instrument for concluding and executing transactions. An alternative to traditional markets is beginning to form, whose lack is a low level of security and congestion by intermediaries. The article is devoted to the current issue of the development of financial transactions through the introduction of blockchain technologies, which offer the openness of information to participants in transactions and its protection from external influence. The authors distinguish three levels of regulatory regulation of the introduction and use of blockchain technology, as well as its target guidelines. Prospects for the development of blockchain technology are considered on the example of such areas of application as the commodity exchange, attracting financing, and investing in cryptocurrencies. The high role of blockchain technologies in increasing transparency and corruption resistance of the entire system of trade in retail goods due to duplication of data in all distributed registries was noted. A comparative analysis of ICO and IPO had revealed the advantages of accumulating financial resources by placing tokens over traditional methods, which was particularly relevant for startups. The study of the possibilities and reasons for investing in cryptocurrencies had led to the identification of the key factors for the potential success of this new digital financial instrument, which, in addition to the high ratio of propriety and risk, could be useful to its owner in conducting fast and secure payment operations with the appropriate development of the regulatory framework.