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Blockchain came because of the occurrence of incredulity to single authorities by introducing the concept of network decentralization and data distribution saved in a ledger. Decentralization is used to validate discrepancies in the majority of data. The consensus mechanism collectively maintains the consistency of the ledger. A blockchain is a set of blocks containing transaction data interconnected to each other using the concept of cryptography. A mining process is an effort to add new blocks to the blockchain. The mining computer carries out the process after passing several complex mathematical problems. The fastest miner is rewarded with crypto coins. Some consensus mechanisms commonly used in blockchain are proof of work, proof of stake, practical byzantine fault tolerance, and proof of elapsed time. Blockchain network is designed and implemented in such a way that it can guarantee the security of its data, is easy to be audited, is robust to denial of service and majority attacks, and is private and confidential. The application of blockchain is not limited to finance systems; it can also be applied in health, education, supply chain, and state democracy systems.

In recent years there has been a significant growth of interest and investment in Blockchain technology with a many companies and government organisations, large and small, proposing applications of this technology across a range of social, financial, industrial, and governmental sectors. Blockchain technology is seen as providing opportunities to disrupt traditional products and services. This is mainly due to features such as the absence of a single trusted third party, the immutability of the blockchain record, the distributed, decentralised nature of blockchains, and the ability to run smart contracts. The International Data Spaces (IDS) reference architecture focuses on the concept of 'data sovereignty', allowing organizations to share datasets in a secure and controlled way using the International Data Spaces Connector concept. Some of the features of blockchain technology are consistent with features of the International Data Spaces architecture, such as the absence of a single trusted party (e.g. where all data is being stored) and the decentralized nature. Other features are complementary, such as the permanence of the blockchain record. This makes it highly interesting to explore how IDS and blockchain technology fit together and how blockchain technology could be used in future versions of the International Data Spaces reference architecture. IN THIS DOCUMENT WE WILL HIGHLIGHT: • The core concepts of blockchain technology • Potential usage scenarios for blockchain technology in an IDS context • Possibilities for implementing IDS architectural concepts using blockchain technology • How several projects currently use IDS in combination with blockchain technology

In recent years there has been a significant growth of interest and investment in Blockchain technology with a many companies and government organisations, large and small, proposing applications of this technology across a range of social, financial, industrial, and governmental sectors. Blockchain technology is seen as providing opportunities to disrupt traditional products and services. This is mainly due to features such as the absence of a single trusted third party, the immutability of the blockchain record, the distributed, decentralised nature of blockchains, and the ability to run smart contracts. The International Data Spaces (IDS) reference architecture focuses on the concept of 'data sovereignty', allowing organizations to share datasets in a secure and controlled way using the International Data Spaces Connector concept. Some of the features of blockchain technology are consistent with features of the International Data Spaces architecture, such as the absence of a single trusted party (e.g. where all data is being stored) and the decentralized nature. Other features are complementary, such as the permanence of the blockchain record. This makes it highly interesting to explore how IDS and blockchain technology fit together and how blockchain technology could be used in future versions of the International Data Spaces reference architecture. IN THIS DOCUMENT WE WILL HIGHLIGHT: • The core concepts of blockchain technology • Potential usage scenarios for blockchain technology in an IDS context • Possibilities for implementing IDS architectural concepts using blockchain technology • How several projects currently use IDS in combination with blockchain technology

The article is devoted to the coverage of the use of Blockchain technology in the field of public administration. The foreign experience of using Blockchain technology (Estonia, USA, Japan, Brazil, Ghana, Honduras, Georgia, UAE, the Netherlands and Sweden) has been analyzed, as well as prospects for its introduction in Ukraine. Examples of the implementation of Blockchain technology in Ukraine in providing public and public services to legal entities and individuals are presented. The main advantages and disadvantages of this technology are defined, the main principles of work of the Blocckhain are formulated. In addition, the main problems with which the Ukrainian government can meet, when using the distribution register (Blockchain) in public administration is indicated. Particular attention is paid to Blockchain technology as a means of bureaucracy and corruption in public authorities.

In the digital age, intelligent devices produce data intensively. There is a need for protection in the transmission and storage of this data. Blockchain is a record of encrypted data transfers on the Internet. This new technology uses complex mathematical functions. As the blockchain grows, the solution of these operations becomes more difficult. Since it creates strong encryption on digital identity, it has started to be used in internet of objects, big data, artificial intelligence and robot technology. There is no need for a central authority in blockchain technology. Transactions are carried out directly between the buyer and the seller and in a safe manner. The history of all transactions is publicly available on the network. It provides the opportunity to use secure technologies in critical areas such as finance, health, education, insurance, industry, energy and military. Due to the opportunities it provides, different sectors adapt their business practices to the blockchain technology. In this study, encryption algorithms of blokchange encryption technology will be examined.

Block chain technology is becoming more and more important as it is being applied in many fields of business. Blockchain serves as a continuing book of records enabling transactions to develop in decentralized circumstances. Although it is a relatively new technology (first theoretical work dates from 2008), developed and applied primarily in payment systems (Bitcoin), it appeared that its potentials are far beyond it. Within the period from its beginning until the present day, this technology has been considerably improved, applied algorithms perfected and accommodated to contemporary business environment. Research in the field of application concerning this technology was made on the basis of available literature and papers published in relevant journals. The paper represents a comprehensive review of possibilities in Blockchain technology application in contemporary business environment, its benefits and shortcomings as well as security problems appearing in theory and practice. This paper also deals with the analysis of possible trends in the mentioned field.

The article examines the features of blockchain technology and the construction of its structural elements. It is based on the principle of structuring and working with databases, which was developed by Satoshi Nakomoto in 2008. A feature of its model is the reliability of transactions and the creation of a decentralized register of data accounting and key blocks of information. The article also examines the main types of operation of the blockchain system, from Blockchain 1.0 to the concept of Blockchain 4.0. Given the high level of interest of the world in building reliable information accounting, the blockchain has become an important tool for ensuring reliability both for the financial world and for the wider areas of application considered in the work. The stages of development are characterized and the process of formation of blockchain technology on the world market is analyzed. The paper presents examples of major cryptocurrencies in the world, which are currently considered the most stable and relevant for investment or settlement. The study shows a tendency to accelerate the emergence of various types of cryptocurrencies developed by the world's largest digital giants, such as Libra 2019 from Facebook, Gram from the most popular messenger Telegram, and many others. The wide range of cryptocurrencies on the market encourages users to increasingly use the blockchain system and increase the turnover of cryptocurrency, because as of 2019 the market value is about 420.5 billion dollars, which is growing every year. The basic principles of information protection and ensuring the reliability of its accounting are considered. Considerable attention in the article is paid to the peculiarities of the construction and operation of the blockchain system itself. The operating model is the most important for improving the operation of the blockchain system and encouraging users to use modern technologies. Much attention is paid to the system of accounting for information blocks, access to it, the use of hashes and ensuring the reliability of the connection of chains of blocks with each other. An important area of work is the analysis of accounting systems PoW and PoS, as well as combining them into a single, which provides more effective protection of information. Prospects for further development of Blockchain technology at the corporate and state levels are outlined. The paper identifies the main prospects for the use of blockchain technology at the corporate level, provided the use of effective financial instruments and ensuring the transparency of financial transactions, increasing the number of innovative technologies and calculation methods based on this technology. At the state level, among the promising areas of blockchain technology, attention is paid to social security, accounting and registration of tax information, introduction of the system in the military-industrial complex, archive of vehicle operation, issuance of certificates, voting system and other areas

Blockchain technology has become more common in the audit industry, posing new problems for traditional audit work. Researchers have been studying the effect of customers' use of blockchain technology on audits, especially on audit risk and audit methods. This paper examines audit cases of Chinese enterprises that use blockchain technology. It analyzes the effect of the use of blockchain technology on the audit and the new audit problems. It also examines an Australian blockchain audit case using a questionnaire. This case study showed that the application of new technologies to the audit industry may lead to increased inherent risks and control risks. The audit methodology is uncertain and there are two possible approaches: (1) a combination of direct, indirect, account-level, and entity-level evidence and (2) an increase in indirect and entity-level evidence. This paper puts forward the reference case of the Australian blockchain audit experience and suggestions for developing blockchain audits in China.

It has been more than 10 years since Satoshi Nakamoto published his famous paper entitled 'Bitcoin: a peer-to-peer electronic cash system', which set the foundation of blockchain technology. Accompanied by the price volatility of bitcoins from 2017 to 2018, blockchain has been a hot word on the internet, and particularly hot in China. Blockchain offers a distributed and secure system for data storage and value transactions. Its applications are springing up in multiple fields. The Chinese government is considering these trends with great caution. Initial coin offering has been banned in China since September 2017. By contrast, an official white paper on China's blockchain technology, which was released in May 2018, said that blockchain technology will be widely applied in the real economy of China within 3 years. In a recent panel discussion held by National Science Review, experts talked about related topics. Their opinions may provide a quick view of the future development of blockchain in China and abroad. [Image: see text] Jing Chen Assistant Professor of Computer Science Department, Stony Brook University and Chief Scientist at Algorand LLC, USA [Image: see text] Xiaotie Deng Professor of School of Electronics Engineering and Computer Science, Peking University, China [Image: see text] Guohua Gan Vice President of Beijing Tai Cloud Technology Corp., China [Image: see text] Xiaoyun Wang Professor of Institute of Advanced Study, Tsinghua University, China [Image: see text] Zhiming Zheng Professor of School of Mathematics and Systems Science, Beihang University, China [Image: see text] Lei Guo (Chair) Professor of Academy of Mathematics and Systems Science, Chinese Academy of Sciences, China

AbstractSimilar to the early days of the Internet, today, the effectiveness and applicability of legal regulations are being challenged by the advent of blockchain technology. Yet, unlike the Internet, which has evolved into an increasingly centralized system that was largely brought within the reach of the law, blockchain technology still resists regulation and is thus described by some as being "alegal", i.e., situated beyond the boundaries of existing legal orders and, therefore, challenging them. This article investigates whether blockchain technology can indeed be qualified as alegal and the extent to which such technology can be brought back within the boundaries of a legal order by means of targeted policies. First, the article explores the features of blockchain-based systems, which make them hard to regulate, mainly due to their approach to disintermediation. Second, drawing from the notion of alegality in legal philosophy, the article analyzes how blockchain technology enables acts that transgress the temporal, spatial, material, and subjective boundaries of the law, thereby introducing the notion of "alegality by design"—as the design of a technological artifact can provide affordances for alegality. Third, the article discusses how the law could respond to the alegality of blockchain technology through innovative policies encouraging the use of regulatory sandboxes to test for the "functional equivalence" and "regulatory equivalence" of the practices and processes implemented by blockchain initiatives.