BLOCKCHAIN TECHNOLOGY AND THE POSSIBILITIES OF ITS USE

Abstract

With the development of digital technology, most familiar processes are changing. Without information technology, it is already impossible to imagine either medicine or the field of education. Big data and artificial intelligence come to almost every area of society, everything around is becoming “smart”. According to the forecasts of the participants of the St. Petersburg International Economic Forum, held in 2019, the global market for products using artificial intelligence and advanced information technologies can grow by almost 17 times by 2024. A national strategy for the development of technologies in the field of artificial intelligence and information technologies has been prepared in the Russian Federation, and a detailed action plan has been integrated into the national program “Digital Economy”. Digitalization today covers almost all aspects of the interaction of the citizen and business with authorities. Digitalization of business processes takes place, technologies are introduced into the activities of industrial enterprises, in the organization of public services and financial institutions.

Aim. Consider the technology of blockchain, its origin, advantages and disadvantages, as well as the possibilities and prospects of using this technology.

Materials and methods. As part of the materials and methods, one should point to an analysis of the theoretical foundations of the blockchain technology, the practical results of its implementation and use in various fields of activity: from public life to business. Since it is blockchain technology that occupies a special place among the promising information technologies and is increasingly used in business, as well as government, and will undoubtedly affect the familiar picture of the world, how the Internet has changed the world of information exchange in its time.

Results. The article makes an attempt to assess the origin, current state, the possibilities of using blockchain technology, as well as its impact on traditional business processes and socio-economic transformation as a result of the digitalization process.

Conclusion. It is believed that blockchain technology can be a real breakthrough in the field of finance, secure databases and the reliability of certain facts. For the largest foreign and domestic companies, this is not just a concept from an approximate future, but now it is part of the business, and the future life of society as a whole depends on how well it is to use and manage blockchain technology.