Regional Economics: Theory and Practice
 

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Blockchain technology in public administration in the context of digitalization of the economy: Prospects for use

Vol. 17, Iss. 7, JULY 2019

PDF  Article PDF Version

Received: 26 June 2019

Received in revised form: 28 June 2019

Accepted: 1 July 2019

Available online: 15 July 2019

Subject Heading: ECONOMIC SECURITY

JEL Classification: А14, Е03, Е42, G23, О33

Pages: 1368–1376

https://doi.org/10.24891/re.17.7.1368

Rebrova V.V. Financial University under Government of Russian Federation Moscow, Russian Federation
vika.rebrova@mail.ru

https://orcid.org/0000-0002-6114-6666

Subject This article discusses the blockchain technology and the possibilities of its application in the sphere of public administration in the digital economy.
Objectives The article explores the possibilities of using the blockchain technology in the sphere of public administration as a tool for economic growth. It examines the pros and cons of the new technology and analyzes the factors of the change in the bitcoin exchange rate.
Methods For the study, I used the methods of empirical, comparative research, analysis and synthesis, generalization, and scientific literature and statistical data review.
Results The article identifies factors of the change in the bitcoin exchange rate and shows the advantages and disadvantages of the new technology. It also offers directions for introducing the blockchain technology into public administration.
Conclusions In the context of the digitalization of the economy, there is a need to make changes to the established model of state administration through the introduction of the latest information systems based on the blockchain technology. The issue of legislative regulation and determining the legal status of cryptocurrencies still remains open.

Keywords: bitcoin, blockchain, cryptocurrency, public administration, digital economy

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