The use of innovative blockchain technology in the public finances of Ukraine in the conditions of the formation of the digital economy

Анотація

The article reveals the essence of innovative blockchain technology and the features of its application in the management of financial processes in the country. The positive effects of the introduction of this technology in the field of public finance have been determined, in particular: it allows to improve the quality of control over monetary transactions, ensures information transparency and security of financial relations, reduces or eliminates transaction costs, creates a high level of trust in the participants of agreements, provides quick access to the database on financial transactions, etc.
 The following promising areas of application of blockchain technology in the public finance system are substantiated: the mechanism of public procurement, management of state investments and assets, improvement of state registers, public administration, state financial control, payment of certain taxes and fees, increase in the level of financial security of the country.
 The use of blockchain technology in public administration for the organization of electronic document flow and the formation of various registers to overcome corruption is argued. The prospects for the introduction of this platform in the field of state financial control are outlined to increase its transparency, and effectiveness and increase public trust in government institutions.
 It is proposed to expand the application of blockchain technology in the domestic taxation system, in particular, to improve the mechanism of value-added tax, which will increase the effectiveness of the fight against the use of various schemes for evading its payment. To create a favorable investment climate and attract capital investments in the country's strategic industries, the expediency of introducing the blockchain platform into the system of protection of foreign direct investments in the national economy has been substantiated.

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