UDC 336.743:336.027:004.4; JEL G11, G15, G23
Sloboda, L., & Senkovych, Yu. (2018). Rozvytok ta implementatsiya tekhnolohiyi blokcheyn u provedenni rozrakhunkiv finansovykh ustanov [Development and implementation of blockchain technology in financial institutions’ payments]. In Sotsial'no-ekonomichni problemy suchasnoho periodu Ukrayiny [Socio-Economic Problems of the Modern Period of Ukraine]: Vol. 130 (2) (pp. 40-47). Retrieved from http://ird.gov.ua/sep/doi/sep2018.02.047. [in Ukrainian].
Sources: 13

Authors



Sloboda Larysa Yaroslavivna

Ph.D. of Economics, Associate Professor

Associate Professor of the Department of finance, banking and insurance of the Lviv Institute of the University of Banking

Contacts: -larisasloboda2006@rambler.ru, larisabaht@gmail.com

Webpages:

Senkovych Yuriy Andriyovych

Master's student of the Lviv Institute of University of Banking

Contacts: yusenkovych@gmail.com

Webpages:

Resume

In the article modern approaches of the blockchain technology development are considered in relation to the determination of the essence and types of cryptocurrencies. The features of innovative blockchain technology are exposed and an analysis over of development these technologies in providing payment transactions of financial institutions to satisfy of the society necessities in the different spheres of socio and economic life. The authors describe the main followers’ stages in basic model of blockchain system redarding to the trusting approach and security functions. The schemes of financial transactions in correspondent banking relationships based on the blockchain technology model are created. In addition, the analysis of the banking operations in cryptocurrencies is conducted and the features of regulation this activity of financial institutions in Europe and globally are exposed. The classification of the stages of blockchain technology development is carried out by authors. The forecast of the blockchain technology development is presented in relation to the application in a digital economy on the basis of forming an alternative financial infrastructure. An assessment of the legal base of implementation blockchain technology in Ukrainian financial relationships is conducted. As a result of the research, the authors note that the legal base of the blockchain technology implementation in development status in Ukraine, therefore the concept of the financial payments based on the blockchain needs to be finalized and mandatory consolidated in Ukrainian regulations, especially in guidelines created by National Bank of Ukraine.

Keywords:

digital economy, financial institutions, cryptocurrency, innovative technology, blockchain, bitcoin, regulation of the financial payments in cryptocurrencies

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