ADVANTAGES OF USING BLOCKCHAIN TECHNOLOGY IN THE CONDITIONS OF DIGITIZATION OF FINANCIAL INSTRUMENTS

Анотація

Introduction. The decentralized system for accounting and data storage, which is known as blockchain, has received and continues to be widely used in the financial sector, being the basis for the functioning of cryptocurrency. The article presents the institutional foundations of managing financial and economic security in the context of digitalization, the relationship of the influence of internal and external threats, determines the internal and external factors that have both direct and indirect effects on the security of the subjects of payment transactions in the development of blockchain technologies.

The purpose is to justify the introduction of equilibrium indicators between permissive and prohibitive measures to regulate the blockchain industry and its products, to study the nature and intensive development of the cryptocurrencies within its adaptation to global financial systems, taking into account the risks that arise in this area when applying blockchain technology to Ukrainian economic realities.

Results. The article reveals modern trends in the development of cryptographic technologies based on decentralized databases, and the possibilities of their direct implementation in the field of financial and payment instruments, both at the level of private decisions and state financial institutions. The features of conducting ICOs and IEOs, as well as the emergence of new forms of cryptocurrency, such as stablecoin and digital money of state governments, are disclosed.

Conclusions. To regulate this innovative field of activity, today there is an objective need to create legal acts that can protect against external and internal threats, while balancing and establishing the interests, rights and obligations of all parties to the issue and circulation of cryptocurrency.