New quality of financial institutions and business management

Economic processes in the world are characterized by a high level of dynamism, change and innovative approaches to addressing key issues in nowadays. In a context of globalization and European integration of Ukraine into a high-tech competitive environment in order to financing innovative projects, it is necessary to use Blockchain technology as an effective tool for digital economy. Purpose of scientific research is to find out key priorities and functionalities of Blockchain’s application for solving business and government tasks. The object of scientific research is the latest financial technology Blockchain and a system of cult-technologies: crowdsourcing, crowdfunding, crowdinvesting. Methodology. In the process of re-search, the following methods are used: generalization – in studying the nature, pre-conditions and principles of Blockchain technologies; formalization – when compar-ing characteristics of the latest forms of financing, such as crowdsourcing, crowd-funding, crowdinvesting. In the course of scientific research, key qualitative charac-teristics of digital economy are described and the dominant components of its devel-opment are investigated. The result of the article. The priorities, new principles of business management and possibilities of Blockchain technology as an effective digi-tal economy tool for solving business and government tasks are revealed. Future pro-spects from the implementation of crowd-technologies as an effective management tool in progress for solving the problems of innovative business are substantiated. Interconnection in the latest financial institution of creative initiatives realization is presented. The comparative analysis of management of new institutes of innovative development for Ukrainian economy in the course of doing business is carried out. The result of the research is presentation of the relationship in the latest financial in-stitution implementing creative initiatives and a comparative analysis of new insti-tutes of innovative development in the sphere of finance for the Ukrainian economy. Practical implications. The components of digital economy identified by the authors in the article are accelerators of the socio-economic life of Ukrainian society in the modern world and are capable of rapidly increasing Ukraine’s GDP. The described new forms of financing of Ukrainian start-ups (crowdsourcing, crowdfunding, crowdsourcing) are today quite interesting and effective tool for solving business problems in the financial, economic, innovative, marketing and marketing spheres. Value/originality. Blockchain technology, as an effective tool for Ukraine’s digital economy, is able to address the challenges of business and government, uncover the relationship between crowdsourcing, crowdfunding, crowdsourcing, and explain the content of innovative financial institutions for Ukraine’s economy

Philanthropy on the Blockchain

Part 1: Security in Emerging SystemsInternational audienceOne of the significant innovations that came out of Bitcoin is the blockchain technology. This paper explores how the blockchain can be leveraged in the philanthropic sector, through charitable donation services in fiat currency or Bitcoin via a web-based donor platform. The philanthropic model is then used for a case study providing humanitarian aid for a community living in a challenging geographical environment with limited internet availability. An SMS based mobile payment system is proposed for provisioning the received donations using the existing GSM network, very basic mobile phones and One Time Password (OTP) security tokens. The proposed scheme is finally evaluated for security while discussing the impact it has on charities and donors

Sustainable Development Report: Blockchain, the Web3 & the SDGs

This is an output paper of the applied research that was conducted between July 2018 - October 2019 funded by the Austrian Development Agency (ADA) and conducted by the Research Institute for Cryptoeconomics at the Vienna University of Economics and Business and RCE Vienna (Regional Centre of Expertise on Education for Sustainable Development).Series: Working Paper Series / Institute for Cryptoeconomics / Interdisciplinary Researc

Sustainable Development Report: Blockchain, the Web3 & the SDGs

This is an output paper of the applied research that was conducted between July 2018 - October 2019 funded by the Austrian Development Agency (ADA) and conducted by the Research Institute for Cryptoeconomics at the Vienna University of Economics and Business and RCE Vienna (Regional Centre of Expertise on Education for Sustainable Development).Series: Working Paper Series / Institute for Cryptoeconomics / Interdisciplinary Researc

The transformation of traditional banking activity in digital

Purpose: This article investigates specifics of the transformation of banking activity in the conditions of digitalization of the economy. In the light of penetration of digital technologies into all the spheres of our life, the rapid development of financial technologies and their active implementation in the banking sector of the economy, digital financial innovations are formed at the intersection of the concepts of "financial technologies" and "financial innovations". Design/Methodology/Approach: In order to investigate the process of transformation of the banking sector in the context of digitalization, it is necessary to consider this issue from three points of view: 1) theoretical understanding of the concept of "financial technologies"; 2) the need to ensure the efficiency and sustainability of the banking sector; 3) the change in the IT- architecture of banking activities and the formation of the digital ecosystem with banks in the center. It is also reasonable to analyze promising areas of implementation of financial technologies into the banking sector. Findings: The main directions of the development of financial technologies in the banking sector, aimed at further transformation of traditional banking services through digital technologies. Practical Implications: The results of the study can be applied in the development of the legislative regulation of the FinTech industry in Russia. Originality/Value: The main contribution of this study is to determine the prospects for the development of the domestic banking sector in the context of digitalization, the need to transform in order not only to improve the competitiveness and efficiency of functioning, but also to stay in the banking business.peer-reviewe

Blockchain Solutions for Multi-Agent Robotic Systems: Related Work and Open Questions

The possibilities of decentralization and immutability make blockchain probably one of the most breakthrough and promising technological innovations in recent years. This paper presents an overview, analysis, and classification of possible blockchain solutions for practical tasks facing multi-agent robotic systems. The paper discusses blockchain-based applications that demonstrate how distributed ledger can be used to extend the existing number of research platforms and libraries for multi-agent robotic systems.Comment: 5 pages, FRUCT-2019 conference pape

Trends in Banking 2017 and onwards

The changing nature of the relationship between a retail bank and its customers is examined, particularly with respect to new financial concepts, debt and regulation. The traditional image of a bank is portrayed as a physical building a classical Doric portico. This image conveys concepts of service, soundness, strength, stability and security ("five-S"). That "five-S" concept is changing, and the evidence for changes that affect customers directly is considered. A fundamental legal problem associated with those changes is highlighted: a bank is no longer solely responsible for the safeguard of customer monies. A solution to this problem is proposed: banks should be jointly liable with perpetrators of criminal activity in the event of frauds as an encouragement to recognise and mitigate fraud.Comment: Proceedings 29th SASE Conference, Lyon France, June-July 201