Blockhain impact on economic security

Main Article Content

Yurii Matyskevic
Zaneta Simanaviciene
Iryna Belova
Kateryna Fen
Yevheniia Skljar
صندلی اداری

Abstract

The aim of this paper is to review impact of the one of the most modern cutting edge technologies‘, namely Blockchain on Economic Security. First of all article describes concept - technological background of Blockchain technology nature, emphasizing main features that have most significant and even disruptive impact on separate industries and even whole Economy including Economic Security. Secondly contemporary challenges of this technology are provided. Thirdly multifaced concept of Economic security is explained, followed by importance of this phenomenon specifically within modern mega trends such as Globalization and Information Society. Blockhain impact has been researched through three main industries/functions – eCommerce, Payments and Logistics. Finally conclusions of the paper suggest to use Blockhain with another Industry 4.0 technologies (such as Big Data and Internet of Thing) to reach maximum possible synergy.

Downloads

Download data is not yet available.

Article Details

Section
Integration System of Education, Science and Production
Author Biographies

Yurii Matyskevic, Mykolas Romeris University

Experienced Business development/Program and Contract manager with international expertise within technology and banking industries with key competence and skills: commercial experience within technology industry; extensive skills in business, contract and IP (Intellectual Property) law  - managing legal risks, negotiations, drafting commercial contracts, NDAs, SLAs, MOUs, LOIs, etc within technology company; demonstrated skills in networking, account management, leading negotiations and presentations to C level managers; experience in working within EU institutions and drafting EU legislation on IT policy (IT security, personal data protection, eGovernment, etc); and etc.

Scientific interests: IT policy, risk management, business management, economic and finance security.

Zaneta Simanaviciene, Mykolas Romeris University

Professor, Head of Laboratory Business Innovation University of Mykolas Romeris

Professor of Social sciences at Mykolas Romeris University,  She has more than 40 years of experience in delivery of business regulation, supervision, economic security. She specialized in economic security and business policy.

She teaches disciplines taught: economic security, business policy, corporate social responsibility.

Scientific interests: economic security, business policy, corporate social responsibility.

Author of more than 100 scientific works.

Web of Science ResearcherID W-3675-2019
ORCID 0000-0001-6008-2405



Iryna Belova, West Ukrainian National University

PhD, Assoc. Professor

Kateryna Fen, Yuriy Fedkovych Chernivtsi National University

Ph.D. in Economics, Department Business, Trade and Stock Activity, Yuriy Fedkovych Chernivtsi National University, Сhernivtsi, Ukraine She teaches disciplines taught: Business. Scientific interests: Economic security of food industry enterprises. Author of more than 20 scientific papers.

Yevheniia Skljar, Yuriy Fedkovych Chernivtsi National University

Ph.D. in Economics, Associate Professor, Department Business, Trade and Stock Activity, Yuriy Fedkovych Chernivtsi National University s, Сhernivtsi, Ukraine. She teaches disciplines taught: Corporate governance, Exchange market analysis and forecasting, Organization of production, Exchange activity, Management and diagnostics of business projects. Scientific interests: Problems and prospects of world trade regulation, development of strategic potential of food industry, organization of production. Author of more than 70 scientific works. 

References

Adams, R., Parry, G., Godsiff, P., & Ward, P. (2017). The future of money and further applications of the blockchain. Strategic Change, 26(5), 417-422. DOI: 10.1002/jsc.2141.

Augutis, J., Krikštolaitis, R., Martišauskas, L., Ušpuras, E., & Žutautaitė, I. (2016). Energetinio saugumo tyrimų raida Lietuvoje. Energetika, 62(4), 232–246.

Baldzhy, M. D. (2017). Economic risks management in projects of development and environmental & economic security. Economic Processes Management. International Scientific Journal, 2, 1-14. Retrieved from: http://epm.fem.sumdu.edu.ua/download/2017_2/epm2017_2_7.pdf

Banker, S. (2016). Will Blockchain Technology Revolutionize Supply Chain Applications. Retrieved from: https://logisticsviewpoints.com/2016/06/20/

Bickauske, D., Simanaviciene, Z., Jakubavicius, A., Vilys, M., & Mykhalchyshyna, L. (2020). Analysis and Perspectives of the Level of Enterprises Digitalization (Lithuanian Manufacturing Sector Case). Independent Journal of Management & Production, 11(9)., 2291-2307. DOI: 10.14807/ijmp.v11i9.1404.

Capgeminy. (2016). Consumers set to save up to sixteen billion dollars on banking and insurance fees thanks to blockchain-based smart contract. Retrieved from: https://www.capgemini.com/news/consumers-set-to-save-up-to-sixteen-billion-dollars-on-banking-and-insurance-fees-thanks-to/

Chizhov, S. F. (2015). Kraudsorsing v upravlenii proektami i rossijskie realii ego primenenija. Belgorodskij jekonomicheskij vestnik, 3(79), 94–99.

Conti, M., Kumar, S., Lal, C., & Ruj, S. (2018). A Survey on Security and Privacy Issues of Bitcoin. IEEE Communications Surveys & Tutorials, 99, 1-36. DOI: 10.1109/COMST.2018.2842460

Cuthbertson, A. (2015). Bitcoin Now Accepted by 100,000 Merchants Worldwide. Retrieved from: http://www.ibtimes.co.uk/bitcoin-now-accepted-by-100000merchants-worldwide-1486613.

European Central Bank (2018). Fifth report on card fraud. Retrieved from: https://www.ecb.europa.eu/pub/cardfraud/html/ecb.cardfraudreport201809.en.html.

Franki, V., & Viskovic, A. (2015). Energy security, policy and technology in South East Europe: Presenting and applying an energy security index to Croatia. Energy, 90(P1), 494-507.

Ghotbifar, F., Marjani, M., & Ramazani, A. (2017). Identifying and assessing the factors affecting skill gap in digital marketing in communication industry companies. Independent Journal of Management & Production, 8(1), 1-14. DOI: 10.14807/ijmp.v8i1.507.

Habib, K., Torjusen, A., & Leister, W. (2015). Security Analysis of A Patient Monitoring System for the Internet of Things ine-Health. Telemedicine, and Social Medicine), 73-78.

Hackius, N., & Petersen, M. (2017). Blockchain in Logistics and Supply Chain: Trick or Treat. Hamburg International Conference of Logistics. Digitalization in Supply Chain Management and Logistics, 1-18.

Henriques, A. C. V., Meirelles, F. S., Cunha, M. A. C. (2020). Big data analytics: achievements, challenges, and research trends. Independent Journal of Management & Production, 11(4), 1201-1222. DOI: 10.14807/ijmp.v11i4.1085.

Hileman, G., & Rauchs, M. (2017). Global cryptocurrency benchmarking study. Retrieved from: https://www.jbs.cam.ac.uk/faculty-research/centres/alternative-finance/publications/global-cryptocurrency/#.Xi_asNjgodW.

Hipp, L. (2016). Insecure times? Workers' perceived job and labor market security in 23 OECD countries. Social Science Research, 60, 1–14.

IBM (2018). Top Five Blockchain Benefits Transforming Your Industry. Retrieved from: https://www.ibm.com/ blogs/blockchain/2018/02/top-five-blockchain-benefits-transforming-your-industry.

International Labor Organization (2004). Economic security for a better world. Retrieved from: https://www.ilo.org/global/publications/books/WCMS_069016/lang--en/index.htm.

IP, C. (2020). GDPR has led to $126 million in fines over data privacy. Retrieved from: https://www.gdpr.associates/gdpr-has-led-to-126-million-in-fines-over-data-privacy/.

Johnstone, C. M., Pratt, D., Clarke, J. A., & Grant, A. D. (2013). A techno-economic analysis of tidal energy technology. Renewable Energy, 49, 101–106.

Kahler, R. (2004). Economic security in an era of globalization definition and provision. The Pacific Review, 17(4), 485-502. DOI: https://doi: 10.1080/0951274042000326032

Khorunzhak, N., Brukhanskyi, R., & Ivanyshyn, V. (2019). Logic-statistical information models in control function of Accounting. Independent Journal of Management & Production, 10(7), 846-871. DOI: 10.14807/ijmp.v10i7.906.

Kiviat, T. (2015). Beyond Bitcoin: Issues in Regulating Blockchain Transactions. Duke Law Journal, 65, 569-608.

Knutsen, C. H. (2011). Security Threats, Enemy-Contingent Policies, and Economic Development in Dictatorships. International Interactions, 37(4), 414-440.

Kremer-Matyškevič, I., & Černius, G. (2019). Country's economic security concept: Theoretical insights. Whither Our Economies - 2019: International Scientific Conference: Conference Proceedings, 6, 78-98.

Kubaienko A. (2018). Activation of the Economic Security of Ukraine in Terms of the European Integration. Montenegrin Journal of Economics, 14(2), 91-114. DOI: 10.14254/1800-5845/2018.14-2.6.

Lee, H., Sung, K., Lee, K., Lee, J., & Min, S. (2018). Economic Analysis of Blockchain Technology on Digital Platform Market. IEEE 23rd Pacific Rim International Symposium on Dependable Computing, 1, 94-103. DOI: 10.1109/PRDC.2018.00020.

Litke, A., Anagnostopoulos, D., & Varvarigou, T. (2019). Blockchains for Supply Chain Management: Architectural Elements and Challenges Towards a Global Scale Deployment. Logistics, 3(1), 1-17. DOI: 10.3390/logistics3010005.

Liu M., Wu K., & Xu J. J. (2019). How will Blockchain technology impact Auditing and accounting: Permissionless vs Permissioned Blockchain. Current issues in auditing, 13(2), 19-29. DOI: 10.2308/ciia-52540.

Mattila, J., & Seppälä, T. (2015). Blockchains as a Path to a Network of Systems—An Emerging New Trend of the Digital Platforms in Industry and Society. ETLA Reports, 45, 1-17.

Mattila, J., Seppälä, T., & Holmström, J. (2016). Product-centric Information Management: A Case Study of a Shared Platform with Blockchain. Industry Studies Association Conference, 1, 1-18.

MHI (2020). MHI 2020 Annual Industry Report. Embracing the Digital Mindset. Retrieved from: https://www.mhi.org/publications/report.

Morris, L., & Deprez, L. (2013). The faltering safety net in a reluctant nation: Women's economic security at risk in America. Women's Studies International Forum, 47. DOI: 10.1016/j.wsif.2013.11.002.

Muller, C. (2015). Demographics, Economic Security, And Social Equity. California State University, JHHSA SUMMER, 108–159.

Mutchler, J., E., Shih, Y. C., Lyu, J., Bruce, E. A., & Gottlieb, A. (2015). The Elder Economic Security Standard Index: A New Indicator for Evaluating Economic Security in Later Life. Soc Indic Res, 120, 97–116.

Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. Retrieved from: https://bitcoin.org/en/bitcoin-paper.

Parthasarathy, P., Dailey, D. E., Young, M. D., Lam, C., & Pies, S. (2014). Building Economic Security Today: Making the Health–Wealth Connection in Contra Costa County’s Maternal and Child Health Programs. Matern Child Health, 18, 396–404.

Perez, Y. (2015). Santander - Blockchain tech can save banks 20 billion a year. Retrieved from: https://www.coindesk.com/santander-blockchain-tech-can-save-banks-20-billion-a-year.

Peters, G., & Panayi, E. (2015). Understanding Modern Banking Ledgers through Blockchain Technologies: Future of Transaction Processing and Smart Contracts on the Internet of Money. Retrieved from: https://arxiv.org/pdf/1511.05740v1.pdf.

PMI (2014). PMI‘s pulse of the Profession: The High Costs of Low Perfomance. Retrieved from: https://www.pmi.org/learning/thought-leadership/pulse/the-high-cost-of-low-performance-2014

Popescu, M., F. (2014). Energy Security – A Part of The Economic Security. Managementul Intercultural Volumul, 2(31), 289–296.

Popov, E. V., & Semjachkov, K. A. (2018). Problemy jekonomicheskoj bezopasnosti cifrovogo obshhestva v uslovijah globalizacii. Jekonomika regiona, 14(4), 88-101. DOI: 10.17059/2018–4–3.

Puraite, A., Zuzeviciute, V., Bereikiene, D., Skrypko, T., & Shmorgun, L. (2020). Algorithmic Governance in Public Sector: Is Digitization a Key to Effective Management. Independent Journal of Management & Production, 11(9), 2149-2170. DOI: 10.14807/ijmp.v11i9.1400.

PWC. (2018). Pulling Fraud out of the Shadows, Global Economic Crime and Fraud Survey. Retrieved from: https://www.pwc.com/gx/en/forensics/global-economic-crime-and-fraud-survey-2018. pdf.

Robinson, A. (2016). What is Blockchain Technology, and What Is Its Potential Impact on the Supply Chain? Retrieved from: https://cerasis.com/blockchain-technology/.

Semenyshena, N., Khorunzhak, N., & Zadorozhnyi, Z.-M. (2020). The Institutionalization of Accounting: the Impact of National Standards on the Development of Economies. Independent Journal of Management & Production, 11(8), 695-711. DOI: 10.14807/ijmp.v11i8.1228.

Siciliano, R. (2019). Identify theft crimes by numbers. Retrieved from: https://www.thebalance.com/identity-theft-crimes-by-the-numbers-4157714 .

Sternberg, E. (2009). Prospects for Building Regional Clusters of Economic Strength in Security Technologies: The Case of New York State. Journal of Applied Security Research, 4(3), 341-362.

Tijan, E., Aksentijevic, S., Ivanic, K., & Jardas, M. (2019). Blockchain Technology Implementation in Logistics. Sustainability, 11(4), 1-13. DOI: https://doi:10.3390/su11041185.

UK Finance (2019). Fraud the facts 2019. Retrieved from: https://www.ukfinance.org.uk/policy-and-guidance/reports-publications/fraud-facts-2019.

Umbach, F. (2010). Global energy security and the implications for the EU. Energy Policy, 38, 1229–1240.

Vivchar, O. (2016). Management system interpreting financial and economic security business in economic processes. IEJME – Mathematics Education, 11(4), 947–959.

Wood, G. (2014). Ethereum: A Secure Decentralized Transaction Ledger. Retrieved from: http://gavwood. com/paper.pdf 2017.

World Economic Forum (2013). Enabling Trade. Valuing Growth Opportunities. Retrieved from: http://www3.weforum.org/docs/WEF_SCT_EnablingTrade_Report_2013.pdf.

Zalizko, V. D., Kanan, S. H., & Poprozman, N. V. (2018). Economic and financial security of Azerbaijan in the Context of Institutional Convergations. Financial and Credit Activity-Problems of Theory and Practice, 25(2), 278-287. DOI: 10.18371/fcaptp.v2i25.136867

Zheng, Z., Xie, S., Dai, H., & Chen, X. (2017). Blockchain Challenges and Opportunities: A Survey. International Journal of Electric and Hybrid Vehicles, 14(4), 352-375. DOI: https://doi: 10.1504/IJWGS.2018.095647.

Zuzevičiūtė, V., Šlapkauskas, V., Simanavičienė, Ž., Simanavičius, A., Vasiliauskienė, V., Paurienė, G., & Viduolienė, E. (2018). Visuomenės saugumas ir darni plėtra: visuomenės saugumo aktualijos ir probleminiai klausimai: monografija. II tomas. Kaunas: Mykolo Romerio universitetas.

Most read articles by the same author(s)

فروشگاه اینترنتی