ELECTRONIC BLOCKCHAIN PLATFORM AS A TOOL TO REDUCE RISKS IN DOING BUSINESS

Abstract

The article examines the use of blockchain
distributed ledger technology in various sectors of the
economy. The study found that this technology has
been developed since 2008 to regulate actions related
to the existence of the bitcoin cryptocurrency. The
technology of distributed ledgers has experienced
both ups and downs during the period of its existence
in modern history. Further, large transport companies
engaged in cross-border transportation, expanding
the scope of blockchain technology, began to use this
technology in accounting for the transportation of
goods. Experiments in this area have proven the
convenience and economic feasibility of its use. This
technology has made it possible to track cargo in real
time, which is convenient for both the shipper and the
consignee, the carrier and regulatory authorities. In
2018, at the World Economic Forum in Davos,
Switzerland, it was noted that Ukraine is among 14
countries actively developing and using Blockchain
distributed ledger technology.
Scientists have been researching the Blockchain
distributed ledger technology in various sectors of the
economy, such as: IT, electricity, pharmaceuticals,
agriculture, food, finance, space, transport, cargo,
etc. All of them note the positive developments from
the use of Blockchain distributed ledger technology in
various industries. It makes it easier for businesses to
conduct business, helps to track the quality of services,
and makes business more transparent.
Unfortunately, there is no legislative regulation of the Blockchain distributed ledger technology in the current national legislation. If legislatively regulated, Blockchain technology can be used as a tool to: stimulate transparent business, reduce negative risks in conducting business and eliminate unlawful interference in business activities by regulatory authorities.

Key words: distributed ledger technology Blockchain, transparent economic activity, stimulating economic regime, government agencies.