SOME ASPECTS OF INNOVATIVE BLOCKCHAIN TECHNOLOGY APPLICATION

Ivanov R.
DrSc., Associate Professor
ivanov.r@ef.dnulive.dp.ua
Busygin V.
Postgraduate student
Oles Honchar Dnipro National University (Ukraine)

Презентація

The innovative blockchain technology is still in its infancy, and some researchers still treat it with a degree of distrust. However, among the characteristics of its application and its inherent characteristics, one can identify a serious potential that eliminates the existing level of distrust. Studies have shown that blockchain technology can be implemented in accordance with two main schemes, namely: it is “technology one – problem two”, or “problem one – technology two”. An analysis of these two schemes allowed us to note that enterprises that work with extensive experience in implementing blockchain tools, as a rule, work according to the second scheme. In this case, the corresponding problem is considered, and then the process of substantiating the solution to the problem through the use of technology such as blockchain is already ideas. Researchers note that this approach is more effective [2-4].

The purpose of the research is aimed at bridging the identified knowledge gap between potential areas of application of blockchain technology and the necessary configuration of enterprise resources. This will allow the company to use blockchain technology as an effective resource for solving production problems. At the same time, the relevance of the research is that blockchain technology must be used in conjunction with its other resources. In addition, we note that the main processes for choosing a blockchain as a technology should be aimed at recognizing that it is best suited to solve a specific problem.

Blockchain application. Studies have shown that hype and a low level of understanding of blockchain technology are the main reasons when it is introduced to many problems that are poorly suited, or not at all appropriate. So, in [5], the author claims that the blockchain is close to the peak of the hype cycle for new technologies and indicates that the expectations of this technology are currently exaggerated. This often significantly slows down a large number of start-up companies with hypothetical cases of blockchain use, which are using growing excitement for their marketing benefits. As for the specific areas of application of the blockchain, literary sources do not indicate which areas are ultimately the best to use blockchain technologies, except, perhaps, in cases of using the currency that are obvious, as is the case with Bitcoin. However, today there are many publications that aim to reflect and list possible cases of use and application for blockchain technologies. Although the capabilities of such a technology are hardly fully explored, in [1] the author claims that there is a “potentially countless number” of blockchain applications, which underlies its paradigm. On the other hand, there is a list of software that today is really focused on the use of blockchain technology. At the same time, despite the fact that the lists of application areas may seem very different, there is a general consensus as to which prominent application areas are based on today’s use of blockchain. The division of such applications is usually carried out into four categories. These four most consistent categories further expand the subcategories that create an ordered list of areas of their application. We note these categories and give them the corresponding characteristic.

  1. Finance. Blockchain technologies are involved here to form a distributed ledger program and various financial services. The focus is on the original and first tested use of the blockchain – Bitcoin, or an alternative application, which is to have financial institutions create their own private blockchain programs.

  2. Property. Blockchain technology is being used here to create a smart and autonomous ownership program. Intellectual property allows you to check, program and trade on the blockchain ownership of its physical and non-physical components. Real examples of smart property include vehicles, telephones, and homes that can be activated, deactivated, tracked, and maintained.

  3. The right. Here, blockchain technology is used to create programmable and self-executing contracts. The concept of decentralized autonomous corporations (DAC), decentralized autonomous organizations (DAO), which provide opportunities for authors to expand ownership of their work, is discussed. The use of blockchain in matters of real estate allows for unprecedented updates on how the relevant records on the ownership of property are stored and generated.

  4. Identity. Blockchain technologies are involved here to form programmable and self-executing contracts. At the same time, the concept of blockchain identity applications is introduced, which allows continuous verification of identification, authorization and contract management, which leads to significant efficiency of the real identity process and the reduction of various types of fraud.

Conclusions. The conducted research helps to eliminate the identified knowledge gap between the potential areas of application of the blockchain and the necessary configuration of enterprise resources. In particular, it is shown that it is possible to increase the efficiency of an enterprise by using a blockchain together with other enterprise resources. Using the proposed approach to analyze how enterprises use blockchain together with other resources to increase its effectiveness, the research’s authors emphasize the relevance of the configurations of the resources themselves.

REFERENCES

  1. Atzori, Marcella (2015) Tecnologia Blockchain E Governance Decentralizzata: Lo Stato È Ancora Necessario? (Blockchain Technology and Decentralized Governance: Is the State Still Necessary?) (December 1, 2015). Available at SSRN: https://ssrn.com/abstract=2731132 or http://dx.doi.org/10.2139/ssrn.2731132
  2. Bjørnstad, M.V., Harkestad, J.G. and Krogh, S.A. (2016). What are Blockchain Applications? Use Cases and Industries Utilizing Blockchain Technology. Project Thesis – Blockchain Technology. NTNU, Retrieved from: http://www.blockchaintechnologies.com/blockchain-applications
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  5. Gartner, G. (2016). Hype Cycle for Emerging Technologies Identifies Three Key Trends That Organizations Must Track to Gain Competitive Advantage. Retrieved from: http://www.gartner.com/newsroom/id/3412017