Blockchain Technology Is Changing the Innovation Aspect in the Digital Economy

2020 ◽  
pp. 103-112
Author(s):  
Dmitry Davydov ◽  
Inna Pitaikina
Keyword(s):  
Basic Concept ◽  
Digital Economy ◽  
High Tech ◽  
Technical Design ◽  
Blockchain Technology ◽  
Digital Era ◽  
Third Person ◽  
Digital Transactions ◽  
Or Organization ◽  
Expected Outcomes

In the digital era, banks are moving from their traditional methods of innovation to high-tech technologies. They have been working hard to provide a secure platform to their customers. With their continuous efforts and hard work, the concept of Blockchain technology came into notice. Blockchain technology is popularly known for Bitcoins. Nearly every third person or organization either knows about blockchain technology or uses it. Blockchain technology can address most of the issues related to Digital Transactions, Double Spending, and Currency Reproduction. The chapter will discuss the basic concept of Blockchain, its history, how its networks and technology work, and how its primary technologies evolved. By the end of the chapter, the technical design and expected outcomes will be clearly understood. The chapter also tries to review other research done in this domain.

scholarly journals Competitive advantage of the sustainable digital economy

2021 ◽  
Vol 250 ◽  
pp. 06004
Author(s):  
Oksana Nurova ◽  
Tatiana Freze
Keyword(s):  
Competitive Advantage ◽  
Vocational Training ◽  
Sharing Economy ◽  
Digital Economy ◽  
Green Economy ◽  
High Tech ◽  
High Quality ◽  
Banking And Finance ◽  
Blockchain Technology ◽  
Wide Range

This research focuses on factors that influence the competitive advantage of the sustainable digital economy. Digital economy helped to speed up the exchange of information flows which, in turn, impacted on the creation the new forms of business and socio-economic interactions. Such sectors as banking and finance or hospitality and services are all influenced by the advancements of the digital economy that include sharing economy or Blockchain technology and its related applications. In this article, we show that digital economy is more sustainable due to the fact that it requires less energy sources and can itself contribute to the formation of the green economy and the acceptance of the renewable energy. All these features constitute its competitive advantage that needs to be further supported and fostered. In addition, we discuss key strategies and the development of skills to adapt to a digital economy and provide an overview of high-quality training for high-tech workers. It was assumed that in future, people would be able to easily acquire new skills through vocational training and vocational training. However, the spread of digital technologies has changed the way we work and has increased the need for high-quality training for workers in a wide range of professions. To use such technologies effectively, workers in an increasing number of sectors and professions need both general and advanced ICT skills.

Bitcoin Generation using Blockchain Technology

2018 ◽  
Vol 2 (3) ◽  
pp. 127 ◽  
Author(s):  
Balajee Maram
Keyword(s):  
Distributed Model ◽  
Generation Process ◽  
Distributed Architecture ◽  
Digital Form ◽  
Client Server ◽  
Blockchain Technology ◽  
Digital Era ◽  
The World ◽  
Digital Transactions ◽  
A Chain

There are limitations in client-server model of communication. Distributed architecture provides good accessibility to all the nodes in the network. A blockchain technology is follows distributed model. In the digital era, all the transactions are available in the digital form is called a ledger. This ledger belongs to all the users in the network are shared by all the users in the network. Every transaction is monitored and verified by every user in the network. The blockchain is a chain of blocks that contains a collection of transactions. Bitcoin is a cryptocurrency, depends on blockchain technology. The Bitcoins are generated from the mining of a block for the miner. Every user knows about each and every Bitcoin transaction in the blockchain network. The block is immutable, because every block is verified by each customer in the blockchain network. This is the initiation for new trend for security to the digital transactions in the world. This paper presents the logic in the blockchain and Bitcoin generation process using blockchain technology.

scholarly journals Building a digital economy (the case of BRICS)

2021 ◽  
Vol 106 ◽  
pp. 01019
Author(s):  
Svetlana Gusarova ◽  
Igor Gusarov ◽  
Margarita Smeretchinskii
Keyword(s):  
Digital Economy ◽  
Digital Transformation ◽  
Industrial Robots ◽  
High Tech ◽  
Economic Potential ◽  
New Paradigm ◽  
Brics Countries ◽  
Blockchain Technology ◽  
The Impact ◽  
Further Development

The main direction of our research on building a digital economy includes the introduction of blockchain and cryptocurrency in the BRICS countries; advantages, obstacles, and prospects of the digital economy; the impact of robotization on the economic development of countries. The digital transformation of the economy of the BRICS group can be facilitated by the use of blockchain technology. The study identified the main advantages, threats and directions for the creation and use of a new cryptocurrency (BRICScoin) and blockchain technology by the BRICS countries. The digital economy is on the agenda around the world today, it is a new paradigm for the development of countries’ cooperation, and can become a driver of their economic growth. On the basis of the analysis, the advantages, obstacles and recommendations for the development of digital transformation in the BRICS countries were identified. Research in the development of robotics has revealed the benefits and challenges of this process. The use of a mathematical model made it possible to conclude that the growth of an existing fleet of industrial robots in the country affects the growth of its economy. The further development of robotics in the country will help increase its economic potential, product quality and export of innovative high-tech products.

Specifics of strategic financial planning of enterprise activity in the digital economy

2020 ◽  
Vol 26 (3) ◽  
pp. 499-507
Author(s):  
P.A. Levchaev ◽  
B. Khezazna
Keyword(s):  
Strategic Planning ◽  
Financial Planning ◽  
Financial Management ◽  
Digital Economy ◽  
Economic Life ◽  
Corporate Management ◽  
Economic Relations ◽  
Digital Era ◽  
Analysis And Synthesis ◽  
Corporate Management System

Subject. The article investigates the specifics of strategic financial planning of enterprise operations in conditions of digitalization processes, as well as the introduction of advanced technologies in all spheres of social and economic life. It determines unique opportunities for company development in the international market. Objectives. The study aims at reviewing a set of economic relations and problems emerging in the process of strategic financial planning of enterprise performance in the digital economy, and developing recommendations to improve the financial strategic planning of economic entities. Methods. We employ methods of economic analysis and synthesis, and comparison. The paper rests on works by academic economists on the problems of finance, financial management, and planning. Results. We investigated the most important features and problems of strategic financial planning of enterprises in the digital economy, and how the digital era increases the level of competition of participants for economic dominance. Identified features of financial strategic planning of the corporation's activities in the digital economy are recommended for use in the corporate management system of an industrial enterprise. Conclusions. Improving the strategic management process is a stage of transformations in the digital economy. Enterprises create new priorities through using management models. At the same time, the role of fixed assets is reduced, and intangible assets and information accelerate the business. The effectiveness of company operations is often determined by the availability of accurate and timely information that reflects the necessary aspects of financial and economic practice.

From Supply Chain Management to Blockchain-Based Management

2019 ◽  
pp. 59-63
Author(s):  
G. V. Zubakov ◽  
O D. Protsenko ◽  
I. O. Protsenko
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Digital Economy ◽  
Practical Implementation ◽  
Chain Management ◽  
Mutual Trade ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Supply Chain Management System ◽  
The Government

The presented study addresses the current problems in the implementation of the distributed ledger (blockchain) technology in supply chain management mechanisms in the context of the digital economy. Aim. The study aims to analyze the application of the blockchain technology in modern economic processes from the perspective of logistics.Tasks. The authors consider the possibility of using the blockchain technology in the supply chain management system and explore ways to use the findings of the Eurasian Economic Commission (EEC) in the fieldof digital economy to organize information standardization processes within the supply chains of foreign and mutual trade.Methods. This study uses general scientific methods of cognition to examine approaches to the implementation of the blockchain technology in transport and logistics processes and to find opportunities for the implementation of smart contracts to ensure the traceability of the entire chain of commodity and information fl ws.Results. Implementation of the distributed ledger (blockchain) technology in the logistics processes of foreign and mutual trade increases the transparency of information fl ws and the speed of decisionmaking. This technology would allow the parties to negotiate directly, minimizing potential risks and the time required to approve a supply deal.Conclusions. The authors consider the possibility of using a systematic approach to the digitalization of transport and logistics processes and the subsequent standardization of information interaction at the B2B, B2G, and G2G levels, segmented by separate fields of transport and foreign trade and individual economic sectors. As a conclusion, the study assesses the prospects of the practical implementation of blockchain mechanisms in the creation of industrial platforms — digital platforms that provide integrated services for businesses and the government using a single window system.

Tendencies of development of modern innovative technologies and the digital economy

2018 ◽  
Vol 35 (2) ◽  
pp. 40-47
Author(s):  
S. M. Doguchaeva
Keyword(s):  
Internet Of Things ◽  
Digital Economy ◽  
Digital Transformation ◽  
The Internet ◽  
Successful Development ◽  
Innovative Technologies ◽  
Digital World ◽  
Blockchain Technology ◽  
The Internet Of Things

The era of digital transformation provides the opportunity for leading companies to change priorities - to begin to take care of the support environment using innovative technologies and become a leading creative platform open for innovation. The successful development of the digital world, the blockchain technology, the Internet of things – the mechanism which will change the financial world. 

scholarly journals Corporate Entrepreneurship in the Digital Era: The Cascading Effect through Operations

2018 ◽  
Vol 28 (1) ◽  
pp. 4-34 ◽  
Author(s):  
Maheshkumar P. Joshi ◽  
Ravi Kathuria ◽  
Sidhartha Das
Keyword(s):  
Survey Data ◽  
Environmental Changes ◽  
Corporate Entrepreneurship ◽  
High Tech ◽  
Cascading Effect ◽  
Digital Era ◽  
New Research ◽  
Technological Intensity ◽  
Different Levels ◽  
Sequential Relationship

This study examines a firm’s response to perceived changes in the environment, such as the growth of the digital era, at different levels of a firm—beginning with the adoption of corporate entrepreneurship (CE) down to process renewal (PR). We further explore if the technological intensity of a firm, high-tech or low-tech intensity, influences its choice of mode for organisational renewal (OR)—use of internal competence or outside acquisition—to exploit the opportunities created by the digital era. Using survey data from 170 firms, we test a sequential relationship among environmental changes (growth of the digital era), CE, OR and finally PR that involves operating procedures at the functional level. We conclude by identifying the study’s interdisciplinary contributions, which open new research avenues in the field of CE.

scholarly journals THE POPULATION OF THE KALININGRAD REGION AND THE DIGITAL ECONOMY: A SOCIOLOGICAL ANALYSIS

Baltic Region ◽  
2021 ◽  
Vol 13 (3) ◽  
pp. 149-167
Author(s):  
Boris B. Podgorny
Keyword(s):  
Digital Literacy ◽  
Personal Information ◽  
Digital Economy ◽  
Digital Transformation ◽  
Survey Method ◽  
High Tech ◽  
Sociological Analysis ◽  
Programme Implementation ◽  
Digital Development ◽  
Kaliningrad Region

Since 2019, the Kaliningrad Region has run a regional programme for digital transformation as part of the national initiative The Digital Economy of the Russian Federation. The programme seeks to improve the quality of life by creating information infrastructure and streamlining public administration. The regional Ministry of Digital Development has presented a report on programme implementation, which placed emphasis on economic performance. The study employed the questionnaire survey method to carry out a sociological analysis of the regional population as a participant in digital transformation. Quota sampling was used to select 384 respondents. Slightly over a half of the population had a positive attitude to digitalisation, and about 20 per cent believed that the digital economy led to the degradation of society. The development of a high-tech economy was named the main advantage of digitalisation and proliferation of digital surveillance, its distinct disadvantage. Kaliningraders reported heavy use of digital technology. Yet, the low indices of digital literacy and personal information protection raise concerns. The findings, which supplement the regional digitalisation report with sociological data, may help in planning and delivering activities within the regional digital transformation programme.

scholarly journals INSTITUTIONAL PROVIDING OF GOVERNMENT CONTROL OF DEVELOPMENT OF SECTOR OF DIGITAL ECONOMY: NECESSITY AND DIRECTIONS OF PERFECTION

2021 ◽  
Author(s):  
Irina Tkachenko ◽  
Tetiana Shtets
Keyword(s):  
State Policy ◽  
Institutional Support ◽  
Digital Economy ◽  
State Regulation ◽  
High Tech ◽  
Government Control ◽  
Economic Management ◽  
Digital Platforms ◽  
Infrastructural Support ◽  
Economic Bloc

The article identifies and characterizes the components of the architecture of institutional support for the development of the digital economy sector in Ukraine. The structure of institutional support consists of the elements we have identified: the institutional and legal basis, the institutional and organizational platform, the institutional and infrastructural support, and the institutional and economic block, the institutional and psychological environment. To form an institutional and psychological environment, it is necessary to form a single digital environment of trust, to promote the development of infrastructure for the protection and safeguarding of intellectual property, to promote the benefits and opportunities of digitalization of the economy. In order to work effectively in the environment of the institutional and economic bloc, the implementation of public-private partnership programs, development of infrastructure to support high-tech start-ups and support of investment infrastructure for specialization is relevant. The essence of institutional and infrastructural support is the creation of digital platforms for business, state and public, the formation of unified digital cloud platforms, the development of the institutional environment of research and development in the digital economy and the construction of information infrastructure. The development of the institutional and organizational platform is the formation of institutional support for planning the state policy of development of the digital sector, creating institutions to coordinate the activities of stakeholders in the digital economy and introducing the institution of monitoring the development of the digital economy and public policy. The formation and implementation of state policy on the development of the digital economy sector is argued. For a more systematic approach to the growth of state regulation of the dynamics of the digital economy sector, a conceptual hierarchy of institutional support for certain strategic and program documents at different levels of economic management has been developed.

scholarly journals MINING AND BUSINESS ACTIVITIES: IN SEARCH OF THE BALANCE

2019 ◽  
pp. 73-82 ◽  
Author(s):  
I. V. Ershova ◽  
E. V. Trofimova
Keyword(s):  
Legal Regulation ◽  
Digital Economy ◽  
State Regulation ◽  
Entrepreneurial Activity ◽  
Advantages And Disadvantages ◽  
Layer Cake ◽  
Blockchain Technology ◽  
Private And Public ◽  
The Republic ◽  
Definition Of

The article reveals the content and outlines approaches to the definition of the legal nature of mining. Attention is drawn to the necessity of legal regulation of this activity, which is predetermined by the Federal Program «Digital Economy of the Russian Federation» — a project that provides for normative regulation of the digital environment. In order to support the mission to eliminate digital illiteracy, which is also envisaged in the National Program, the author elucidates the etymology and meaning of the term «mining» and considers various doctrinal interpretations of this concept. The paper presents such analogies of the blochchain technology as the public ledger, DNA, and a layer-cake for a better understanding of the blockchain technology that is associated with mining. Material-technical and organizational foundations of mining are revealed. The author demonstrates advantages and disadvantages of solo mining, pool mining, and cloud mining. The results of comparative monitoring of the attitude to the recognition of cryptocurrency as a means of payment are presented. Attention is drawn to the liberal legal regulation of blockchain technology and mining under the laws of the Republic of Belarus. The paper determines the stages of a law-making process aimed at legal support of mining in Russia. Based on the results of comparison of concepts of entrepreneurial activity and mining, it is concluded that mining represents one of new types of entrepreneurship brought to life due to the needs of digital economy. The author suggests thatmining participants be recognized as self-employed persons. It is noted that the entrepreneurial nature of mining arises questions concerning measures of its state regulation which is difficult within the framework of the existing paradigm, but should be built on the basis of a balance between private and public interests.

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