scholarly journals Blockchain Technology: The Essence and Prospects for Use in the Public Finance System of Ukraine

2021 ◽  
Vol 3 (518) ◽  
pp. 126-131
Author(s):  
O. O. Solodovnik ◽  
◽  
K. I. Dokunina ◽  
Keyword(s):  
Public Finance ◽  
Public Administration ◽  
Distributed Database ◽  
Smart Contracts ◽  
Information Transparency ◽  
Finance System ◽  
Investment Projects ◽  
The Public ◽  
Advantages And Disadvantages ◽  
Blockchain Technology

Historically, new investment projects, advanced technologies and financial innovations appear during the crisis period. However, the issues of using modern technologies in the public finance system are at the formation stage, which actualizes the task of arguing the use of innovative technologies that can provide simplicity, speed, and most importantly, the security of most financial transactions in the sphere of public finance. The article is aimed at researching and systematizing existing approaches to defining the essence of the concept of «blockchain» in order to substantiate the directions of improvement of the public administration system and the implementation of blockchain technology in the sphere of public finance. The definition of «blockchain» is studied and its interpretation is proposed as follows: this is a distributed database with registered and ordered economic transactions which, subject to certain conditions, can be connected and to which a specific transaction can be performed. The advantages and disadvantages of using blockchain technology are determined. It is established that blockchain has significant potential for use in various spheres of public life and, despite certain shortcomings, allows to improve the system of public administration. It is argued that to ensure the efficiency, information transparency and security of operations with budget funds, it is advisable to use innovative blockchain technology. It is proved that the implementation of this technology in the sphere of public finance will contribute to solving accumulated problems. It is determined that the modern paradigm of blockchain technology has become the basis for the implementation of smart contracts, but the issue of the use of this technology in such contracts is under formation and needs to be improved in terms of developing the conceptual basis for signing smart contracts by various economic entities.

scholarly journals Third Party Certification of Agri-Food Supply Chain Using Smart Contracts and Blockchain Tokens

Sensors ◽  
2021 ◽  
Vol 21 (16) ◽  
pp. 5307
Author(s):  
Ricardo Borges dos Santos ◽  
Nunzio Marco Torrisi ◽  
Rodrigo Palucci Pantoni
Keyword(s):  
Supply Chain ◽  
Mobile Application ◽  
Consumer Behaviour ◽  
Economic Incentives ◽  
Third Party ◽  
Smart Contracts ◽  
Proof Of Concept ◽  
Socially Responsible ◽  
The Public ◽  
Blockchain Technology

Every consumer’s buying decision at the supermarket influences food brands to make first party claims of sustainability and socially responsible farming methods on their agro-product labels. Fine wines are often subject to counterfeit along the supply chain to the consumer. This paper presents a method for efficient unrestricted publicity to third party certification (TPC) of plant agricultural products, starting at harvest, using smart contracts and blockchain tokens. The method is capable of providing economic incentives to the actors along the supply chain. A proof-of-concept using a modified Ethereum IGR token set of smart contracts using the ERC-1155 standard NFTs was deployed on the Rinkeby test net and evaluated. The main findings include (a) allowing immediate access to TPC by the public for any desired authority by using token smart contracts. (b) Food safety can be enhanced through TPC visible to consumers through mobile application and blockchain technology, thus reducing counterfeiting and green washing. (c) The framework is structured and maintained because participants obtain economical incentives thus leveraging it´s practical usage. In summary, this implementation of TPC broadcasting through tokens can improve transparency and sustainable conscientious consumer behaviour, thus enabling a more trustworthy supply chain transparency.

Blockchain Technology and Its Uses in the Tourism Industry

2020 ◽  
pp. 24-42
Author(s):  
Yunus Topsakal
Keyword(s):  
Artificial Intelligence ◽  
Internet Of Things ◽  
Global Economy ◽  
Tourism Industry ◽  
The Internet ◽  
Public And Private ◽  
The Public ◽  
Advantages And Disadvantages ◽  
Blockchain Technology ◽  
The Internet Of Things

The public and private sectors will undergo a significant transformation with the use of blockchain technology, and this potential of blockchain technology will be influential in all areas of life. In addition, blockchain technology can help ease the integration of the Internet of Things, augmented reality, and artificial intelligence applications. The question of how such a technology that is in the process of development will be applied in areas such as taxation, notary operations, and banking, arises simultaneously. Studies related to blockchain technology have mainly been carried out in the fields of finance, logistics, banking, and education. However, there is a paucity of studies on blockchain technology in the tourism industry which has an important role in the global economy. Therefore, the potential of using blockchain technology in the tourism industry is evaluated in this chapter. For this purpose, the features, advantages, and disadvantages of blockchain technology are explained. The potential uses of blockchain technology in the tourism industry are then discussed.

scholarly journals Public Trust and Financial Transparency of E-Government Implementation in Bandung City

2019 ◽  
Vol 2 (2) ◽  
pp. 136-143
Author(s):  
Dini Arwati ◽  
Dini Verdania Latif
Keyword(s):  
Public Administration ◽  
Research Method ◽  
Global Level ◽  
Information Transparency ◽  
The Public ◽  
Survey Results ◽  
Financial Transparency ◽  
The Government ◽  
High Level ◽  
Descriptive Method

Indonesia government, at the time, is now trying to implement e-government in each of the Organization. E-government is a technology and information-based system that aims to improve the function of public administration and relations with the public. With e-government, it hoped that information transparency would be created, especially financial information. A transparent system can prevent the misuse of the budget, which affects the high level of corruption. Survey results at the global level show that there are cases of fraud that cause distrust of the government. The study is intended to determine the level of trust of society towards transparency finance in e-government. The research method used is the descriptive method by distributing questionnaires to 200 people of Bandung residents. The results showed that financial transparency in e-government affected people's trust.

scholarly journals Information and Communication in Public Administration in the Context of Management Control Functioning in the Public Finance Sector in Poland

2016 ◽  
Vol 16 (2) ◽  
pp. 181-196
Author(s):  
Ambroży Mituś
Keyword(s):  
Public Finance ◽  
Public Administration ◽  
Public Information ◽  
Management Control ◽  
The Public ◽  
Essential Component ◽  
Proper System ◽  
Information And Communication ◽  
The Law ◽  
Types Of Information

Summary The aim of this article is to present the essence and significance of information and communication in public administration in the context of the management control. Broadly understood information in public administration allows both to control the activity of this administration and to make correct decisions and actions in order to perform public tasks effectively. Therefore, the existence of a proper system for sharing and exchanging information is an essential component of the management control, ensuring the execution of the tasks and objectives in a way that is consistent with the law, effective, efficient and timely. The article points to i.a. the types of information and means of communication that may be deemed effective or legally acceptable tools for conveying information and communicating in public information. In this context it should be emphasised that - in particular - sharing public information requires that a relevant form be retained and a proper sharing procedure be followed.

scholarly journals Smart Contract: The Concept, Legal Nature, Features of Conclusion and Execution

Legal Concept ◽  
2019 ◽  
pp. 54-60
Author(s):  
Nizami Safarli
Keyword(s):  
Russian Federation ◽  
Legal Regulation ◽  
Smart Contracts ◽  
Advantages And Disadvantages ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Legal Nature ◽  
Domestic Legislation ◽  
The Russian Federation ◽  
Statutory Regulation

Introduction: the paper is devoted to a new phenomenon in business activity in the conditions of IT development that contribute to the creation of secure contractual relations on the Internet on the basis of transactions executed through smart contracts. The author notes that the need for amendments that could fill the loopholes in the current legislation is obvious. And, first of all, it concerns Blockchain technology – the algorithm that mediates the safe development, conclusion and execution of smart contracts. Blockchain technology is considered in the paper as one of the safest means for concluding and executing smart contracts. The author argues that the study of the concept, legal nature and essence of smart contracts is relevant in the light of spreading their share in the total array of transactions in the world economy in conjunction with the changing domestic legislation governing the relevant sphere, as well as the international integration processes affecting the intensification of foreign economic activity of the Russian Federation. The smart contract concepts formulated by the Russian legislator in the process of upgrading the array of statutory regulation under conditions of economy digitalization are studied and compared. The features of conclusion and protection of the smart contract in the civil legislation of the Russian Federation are analyzed. In order to fully articulate the concept of the smart contract, reflecting its essence, functional purpose and legal nature, it is proposed to create a special law that would focus on the conclusion and implementation of “the smart contract” and the specification of the general norms of the civil code. At the same time, the norms of other special laws would supplement and correct the provisions fixed by this act depending on the sphere of managing and the legal regulation branch. The concept of the smart contract is formulated; its value for economic and contractual activity, and also the advantages and disadvantages of its application are established. The possible classifications of smart contracts are given.

scholarly journals THE ESSENCE OF BLOCKCHAIN TECHNOLOGY AND ITS APPLICATION IN THE FINANCIAL SPHERE

2021 ◽  
Author(s):  
Viktor Stepura
Keyword(s):  
Business Processes ◽  
Banking Sector ◽  
New Technologies ◽  
Distributed Database ◽  
Smart Contracts ◽  
Process Step ◽  
Customer Data ◽  
Legal Norms ◽  
Theoretical Substantiation ◽  
Blockchain Technology

The constant demand of society to improve the speed and security of business processes is the driving force behind the emergence of new technologies and solutions, one of which is the blockchain. The article provides a theoretical substantiation of the essence of blockchain technology as an economic category. The object and subjects of the blockchain are defined, its inherent functions and principles are formed. The article also proposes an approach to the classification of blockchain types, all this allows a comprehensive approach to the study of the process of using blockchain technology in the financial sphere. The paper describes and reveals the blockchain process step by step. The process is described in a universal way, suitable for working with any projects based on a distributed database. The article provides examples of the use of blockchain technology in various areas of financial activity. In the banking sector, blockchain can improve the security and speed of domestic and international payments, and such payments will also be practically free for the parties. In insurance, the introduction of blockchain technology will help companies instantly exchange customer data, and the use of smart contracts will speed up the work with insurance policies. Thanks to the blockchain in accounting, information about transactions, contracts, etc. will be recorded in the general register in real time, so the verification of compliance with legal norms will occur automatically. This will significantly increase the operational efficiency of organizations. The use of blockchain in audit will make this process more transparent, and the time of its implementation will be significantly reduced due to reliable and up-to-date accounting records between counterparties. In the securities market, the blockchain will digitize securities, which will increase their liquidity, as well as help to better comply with the law, and will allow flexible transfer and accounting of ownership of such assets. In working with smart contracts, thanks to the code running on the blockchain, the contract can be executed automatically. At the end of the article, the conclusions are formed and the forecast of the development of the blockchain market for the coming years is given.

scholarly journals An Oracle-Based On-Chain Privacy

Computers ◽  
2020 ◽  
Vol 9 (3) ◽  
pp. 69
Author(s):  
Yu-Jen Chen ◽  
Ja-Ling Wu ◽  
Yung-Chen Hsieh ◽  
Chih-Wen Hsueh
Keyword(s):  
Homomorphic Encryption ◽  
Distributed Database ◽  
Smart Contracts ◽  
Logic Function ◽  
Sensitive Data ◽  
Privacy Issue ◽  
The Public ◽  
Smart Contract ◽  
Privacy Issues ◽  
Real Assets

In this work, we demonstrate how the blockchain and the off-chain storage interact via Oracle-based mechanisms, which build an effective connection between a distributed database and real assets. For demonstration purposes, smart contracts were drawn up to deal with two different applications. Due to the characteristics of the blockchain, we may still encounter severe privacy issues, since the data stored on the blockchain are exposed to the public. The proposed scheme provides a general solution for resolving the above-mentioned privacy issue; that is, we try to protect the on-chain privacy of the sensitive data by using homomorphic encryption techniques. Specifically, we constructed a secure comparison protocol that can check the correctness of a logic function directly in the encrypted domain. By using the proposed access control contract and the secure comparison protocol, one can carry out sensitive data-dependent smart contract operations without revealing the data themselves.

Innovative Processes and Managerial Effectiveness of e-Procurement in Healthcare

2012 ◽  
pp. 206-229 ◽  
Author(s):  
Ubaldo Comite
Keyword(s):  
Public Finance ◽  
Public Administration ◽  
State Sector ◽  
The Public ◽  
Goods And Services ◽  
New Models ◽  
Model Of Management ◽  
Procurement Reform ◽  
Procurement Procedure ◽  
Levels Of Service

Procurement reform, launched in the last few years, offers prospects of consistent and permanent expense saving. The urgency to reduce expenses and achieve a recuperation of efficiency of the public sector suggests the intervention of modernization and reorganization of the acquiring procedures of goods and services of the public administration. This work describes how the new models function, which indicates an important step forward in the reorganization process of the procurement procedure of the public administration, not only in terms of a “new model of management,” but also relative to the “burden,” in terms of contributions towards saving, which is foreseen. The results obtained in terms of savings, the simplification of the procedures of procurement, and initially the levels of service of the State Sector suggest the extension of the new procedure even to other compartments of public expenses, amongst which the healthcare system, whose reform of the policies of acquisition is called upon to combine with both the objectives of public finance and the objectives of re-qualification of the health authority.

Smart kontrakty w prawie umów

2021 ◽  
Author(s):  
Krzysztof Kowacz ◽  
Kamil Wielgus
Keyword(s):  
Distributed Database ◽  
Smart Contracts ◽  
Advantages And Disadvantages ◽  
Legal Science

Chapter I of the paper focuses on introducing the reader to terminology relevant to the issues of smart contracts and distributed database (i.e. blockchain). It presents the historical and technical outline of these two technologies. The most important advantages and disadvantages (risks) associated with the use of these instruments in trading are briefly pointed out, and the reasons for the wide interest in the discussed technologies within the contemporary legal science are generally explained.

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