The potential of applying blockchain technologies in various sectors of the digital economy

Abstract

The objective of the article is to determine the potential of blockchain technologies in various sectors of the digital economy, in the case of the countries of the European Union. Methodology. The research assesses the use of digital technologies to ensure the country's digital development, based on data from the European Commission and the Digital Economy and Society Index (DESI). On the basis of DESI, a cluster diagram was created to determine the potential for the use of blockchain technology in the countries of the European Union. Results. The potential for the use of blockchain technology in each country depends and is significantly connected with the introduction of different technologies and the availability of the Internet, the provision of digital services by the government, the development of human capital. The main potential advantages of the technology include the following: acceleration of globalization processes, ensuring the country's transition from real production to technological development, change of established business models, transformation and optimization of value chains of different sectors of the economy by reducing costs; transformation of the nature of mediation due to technological changes; the use of cryptocurrency to achieve the consensus of economic agents on the allocation of scarce resources on a global scale.