Blockchain - an Innovation Technology of the Post-Industrial Economy

Article English OPEN
Arkhireiska Natalia V. (2017)
  • Publisher: Research Centre of Industrial Problems of Development of NAS of Ukraine
  • Journal: Bìznes Inform (issn: 2222-4459, eissn: 2311-116X)
  • Subject: Bitcoin | cryptocurrency | blockchain | decentralization | miners | investment activities | Business | HF5001-6182

The article is aimed at studying the innovation technology of the post-industrial economy - blockchain. It has been found that blockchain is a multifunctional and multi-level information technology designed to reliably account for different assets. It has been proved that the most important today is blockchain for Bitcoin. The article explores the opportunities, prospects and risks associated with investment in cryptocurrency. It has been determined that the main advantages of investment in Bitcoins are: steadily growing rate, confidence in currency, liquidity, anonymity, decentralization. However, there are significant downsides, such as: scaling problem, uncertainty about the status of the cryptocurrency on the part of the State, and excessive processing time for payments (approximately 10 minutes). It has been proved that the main benefits of Blockchain 1.0 and 2.0 are economic efficiency and cost savings through the use of decentralized network models, which do not require trust in a single transactional center, while Blockchain 3.0 is a freedom that will enable blockchain technology to implement solutions that are not related to monetary turnover and market transactions.
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