№ 2017/4
Institutional problems of economic developmentKORNIVSKA Valeriia O.1
1Institute for Economics and Forecasting, NAS of Ukraine
Bitcoin and blockchain through the prism of the underlying conditions of financial and socio-economic development
ABSTRACT ▼
The article presents the results of a study on the relationship between the basic financial phenomenon of liquidity and its realization in the bitcoin system. It is proved that bitcoin is a natural phase of financialisation trends developing in the global financial space as a result of the activities of financial intermediaries, aimed at ensuring the maximum liquidity of their transactions. Author displays the basic principles of operation of the blockade technology in the context of relations with the underlying conditions of social and economic development (information asymmetry and trust). Characterized the potential of value-institutional changes connected with the circulation of cryptocurrencies and the blockchain technology, which may indicate to the fundamental social uncertainty of the modern stage of technological development.
Keywords:bitcoin, blockchain, cryptocurrencies, information asymmetry and trust.
JEL: E40, E44
| Article in Russian (pp. 60 - 75) | Download | Downloads :466 |
| Article in Ukrainian (pp. 60 - 75) | Download | Downloads :461 |
REFERENCES ▼
1. Hrytsenko, A. (2005). The development of forms of exchange, value and money. Kyiv [in Russian].
2. Minski, H. (2017). Stabilizing an unstable economy. Moscow; St.-Petersburg: Izd-vo Instituta Gajdara, Fakul'tet svobodnyh iskusstv i nauk SpbGU [in Russian].
3. Myshkin, F.S. (1999). Economy of money, banking and financial markets. Kyiv: Osnovy [in Ukrainian].
4. Chaum, D. (1983). Blind signatures for untraceable payments. In Chaum, D., Rivest, R.L., & Sherman, A.T. (Eds.). Advances in Cryptology. Proceedings of Crypto 82, 199-203. New York, NY: Springer US. doi:
https://doi.org/10.1007/978-1-4757-0602-4_18">doi.org/10.1007/978-1-4757-0602-4_18">https://doi.org/10.1007/978-1-4757-0602-4_18
English
Ukrainian 
