Analysis of the Application Blokchain Technology

This dissertation is devoted to the study of blockchain technology and its practical application in economic and financial areas. Blockchain technology represents well-structured database of transactions with specific rules for registration and information disclosure of records. Blockchain is based on cryptographic hash functions, decentralized network where each participant has an access to transaction blocks and opened distributed ledger, which makes the system transparent and protected from any possible fraud. Blockchain technology can be implemented in any sphere where transparency is vital. Dissertation describes several areas where blockchain was used for cryptocurrency transactions, up till now the most popular area for technology application. Another interesting instrument derived from blockchain technology is smart contact which is in essence a program code controlling execution of contact agreements. The idea of smart contracts can only be implemented using blockchain technology with addition of electronic signatures for each participant. Today the idea of smart contracts is only implemented in Ethereum cryptocurrency. Dissertation consists of 2 chapters including 18 illustrations and 26 references to bibliographical sources. First chapter describes theoretical aspects of blockchain technology and also contain detailed analysis of different possible sources of information. Second chapter investigates areas for blockchain technology application with main emphasis on cryptocurrency and supply chains.