A CLUSTER ANALYSIS OF ARMENIA'S STRATEGIC ROLE IN THE GLOBAL BLOCKCHAIN LANDSCAPE

Abstract

The aim of the study is to quantitatively assess Armenia’s strategic role in the global blockchain ecosystem, revealing the country’s position relative to global competitors. The study was conducted on a selection of 50 countries, using a number of other elements: cryptocurrency adoption, innovation potential, and digital infrastructure. For practical analysis, the K-means clustering method was used, which allows classifying countries into homogeneous groups, as well as Principal Component Analysis (PCA).

As a result of the cluster analysis, three main clusters were identified: “Global Leaders”, “Emerging Integrators” and “New Entrants”. Armenia falls into the “Emerging Integrators” cluster, which is characterized by an above-average innovation potential (≈ 0.53) and a strong digital infrastructure (≈ 0.8), but a relatively low crypto adoption rate (≈ 0.019).

In addition to cluster analysis, an optimization model was also used, which showed that Armenia’s transition to the “Global Leaders” cluster will require capital investments, a sharp improvement in the legislative framework, and human resource development.

This research fills a scientific gap by providing a quantitative assessment of Armenia’s position on the global blockchain map and forming a practical basis for developing targeted state policies, optimal resource allocation, and technological integration strategies.