Blockchain as an Infrastructure Solution for Digital Economy - Products for Financial Sector and Public Administration

Student: Ibragimov Sanjarbek

Supervisor: Natalia Milovantseva

Faculty: Faculty of World Economy and International Affairs

Educational Programme: World Economy (Bachelor)

Year of Graduation: 2019

Currently, the blockchain technology is widely known mainly due to the cryptocurrencies, especially Bitcoin. Although the emergence of smart contracts has given a significant breakthrough in the development of technology of distributed ledgers, the application of technology has not yet been realized on a large production scale. The paper presents a detailed analysis of the use of blockchain technologies in the financial sector and public administration. The paper outlines the benefits of using the blockchain in cross-border transfers, trade finance, digital ID and land registries. It includes the solution to optimize compliance procedures by creating an interbank KYC platform running on blockchain. Additionally the author suggests a project and mechanism on the use of blockchain in e-voting.

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