Authors: V.V. Guzyr’

Title of the article: Blockchain as the digital basis of economy networkization

Year: 2019, Issue: 4, Pages: 4-19

Branch of knowledge: 08.00.01 Economic Theory

Index UDK: 330.341.424

DOI: 10.26730/2587-5574-2019-4-4-19

Abstract: To date, networkization of the economy is becoming the most promising form of structural transformations of economic systems at both the national and global levels. The driving force behind networkization is the emergence of a digital economy. Since the 1990s, in the first four decades of the Internet, e-mail, the global electronic network – the World Wide Web, Internet shops and companies – (the dotcoms), social networks, mobile Internet access, world computing power ("Big Data", cloud computing and the formation of unmanned technologies of machine-to-machine interaction – the "Internet of Things". This had a significant positive effect on reducing the costs of information exchange and market interactions for subjects of the national and world economies, reduced barriers to access to new media and entertainment, new forms of distribution of goods and organization of managerial activities, as well as created opportunities for manifestation of fully digital enterprises producing only information. Thanks to the technologies of augmented and virtual reality, digitalization encompasses production, trade and finance, fashion, cars, buildings, cities and even the vital functions of the human body. The saturation with digital technologies of various processes of life of modern man and society is so great that access to digital arrays and virtual reality is not on demand, i.e. occasionally, and constantly, in the course of combining routine activity and its digital reflection in computer systems. The digitalization and networkization of the economy in the 21st century may result in a significant acceleration of economic growth due to an unprecedented surge in business activity and radical changes in national reproduction systems.

Key words: network economy blockchain cryptocurrencies economic structure entrepreneurship digitalization

Receiving date: 05.11.2019

Publication date: 30.12.2019

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