Assessment Technique of the Impact of Blockchain Technology Diffusion on the Sustainable Development of the National Economic System (on the Example of the Russian Federation Economy)

Marat Safiullin, Marat Safiullin, Leonid Elshin, Leonid Elshin, Leonid Elshin, Aliya Abdukaeva, Aliya Abdukaeva, Aliya Abdukaeva

2021

Abstract

Blockchain technologies arouse intense interest in both business entities and government regulators with a certain level of uncertainty about generated effects both for themselves and for the national economy as a whole. The distributed data storage technologies are becoming an integral part of the modern economy and have an increasing impact on the prospects and competitiveness of its development. To understand the "depth" of their impact, possible changes in socioeconomic dynamics under the action of blockchain technology diffusion, it is very important to develop methodological approaches to a formalized assessment of risks and opportunities for the national economic system in the context of the issue. The purpose of this study is to strengthen the positions of formalized approaches to the stated scientific and practical problem. The paper proposes an impact algorithm of the blockchain technology on GDP dynamics through the transformation of key parameters of economy financial and real sectors. The implemented analysis and argumentation, it was substantiated that the integration of blockchain technology into economic processes of the national economic system will most significantly affect the change in the financial results of credit institutions, increase the capital availability of economic agents, as well as accelerate the processes of socialization of access channels of business entities to financial markets (greater access of economic agents to stock trading platforms) Based on proposed and tenable hypotheses, a cointegration model has been developed, making it possible to determine the main effects and potential impact of possible transformations of economic activity (most susceptible to changes as a result of blockchain technology diffusion) on GDP dynamics. The resulting estimates of the sensitivity of economic dynamics to considered adjustments made it possible to identify the potential for economic growth as a result of possible integration of blockchain technology into the economic environment.

Paper Citation

in Harvard Style

Safiullin M., Elshin L. and Abdukaeva A. (2021). Assessment Technique of the Impact of Blockchain Technology Diffusion on the Sustainable Development of the National Economic System (on the Example of the Russian Federation Economy). In Proceedings of the International Scientific and Practical Conference on Sustainable Development of Regional Infrastructure - Volume 1: ISSDRI, ISBN 978-989-758-519-7, pages 325-331. DOI: 10.5220/0010590103250331

in Bibtex Style

@conference{issdri21,
author={Marat Safiullin and Leonid Elshin and Aliya Abdukaeva},
title={Assessment Technique of the Impact of Blockchain Technology Diffusion on the Sustainable Development of the National Economic System (on the Example of the Russian Federation Economy)},
booktitle={Proceedings of the International Scientific and Practical Conference on Sustainable Development of Regional Infrastructure - Volume 1: ISSDRI,},
year={2021},
pages={325-331},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010590103250331},
isbn={978-989-758-519-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Scientific and Practical Conference on Sustainable Development of Regional Infrastructure - Volume 1: ISSDRI,
TI - Assessment Technique of the Impact of Blockchain Technology Diffusion on the Sustainable Development of the National Economic System (on the Example of the Russian Federation Economy)
SN - 978-989-758-519-7
AU - Safiullin M.
AU - Elshin L.
AU - Abdukaeva A.
PY - 2021
SP - 325
EP - 331
DO - 10.5220/0010590103250331