Danish scientific journal
Published June 30, 2022 | Version v1
Journal article Open

BLOCKCHAIN IN THE DIGITAL ECONOMY

Authors/Creators

  • 1. PhD in education (Information Technologies) Blockchain Technology and Data Science specialist of PLATINUM SOFTWARE DEVELOPMENT COMPANY Australia

Description

Abstract

This article examines the development of the digital economy - economy 4.0, in which the key factors and means of production are digital data (binary, information, etc.) and network transactions. Digitalization of the economy allows increasing the efficiency of production and the quality of the resulting products and services. However, the realization of this opportunity is not possible without a change in approaches to management. Relevant is the need for "mobile management (cashless storage, digital transfers), minimum time and money for management without intermediaries, the possibility of independent management regardless of time and location. The article proves that such opportunities as a distributed data registry, all transactions of which are transparent, secure and take place without intermediaries, are provided by blockchain technology. The characteristics of blockchain, the possibility of reducing risks, including fraud, crises, corruption and the negative manifestation of the human factor are considered. The possibilities of blockchain convergence with the practices of scrum, Extreme programming, Feature driven development, Lean Software development, Kanban and others are substantiated. It is concluded that the transfer of governance to blockchain information platforms can completely transform the economy and the market, as all the unique characteristics of resources or objects that are invested in a transaction by each party are converted into digital assets and are clearly recorded by the software code.

Notes

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