IDEAS home Printed from https://ideas.repec.org/a/ers/ijebaa/vviiy2019i2p279-289.html
   My bibliography  Save this article

The Development of Blockchain Technology in Russia: Outlook and Trends

Author

Listed:
  • M.E. Karapetyan
  • L.P. Timoshenko
  • I.A. Stroganov
  • I.V. Pronina

Abstract

Purpose: The article addresses the issue of new scientific decisions shaping with respect to the study of problems, current trends and perspectives of blockchain technology usage in the Russian Federation. Design/methodology/approach: To achieve the objectives of this study the increasing interest to blockchain technology in Russia was discussed. Findings: The article determined main problems in blockchain technology which includes gaps in legislative regulation; the existence of a considerable number of projects that are undergoing the development stage and that have not proved own economic feasibility yet; incomplete understanding of the blockchain spheres’ implementation by state officials, society and business representatives as well as expected outcomes according to the amount and time of their receiving; disputes on cryptocurrencies turnover in the country’s territory and their influence in the national economy. Practical implications: The study has demonstrated the interest growth mainly by businesses to the usage of blockchain technology in order to improve own competitiveness and to obtain additional benefits, including the form of their profits. Originality/value: The research has also determined the area of further key studies in blockchain technology usage in Russia and the world.

Suggested Citation

  • M.E. Karapetyan & L.P. Timoshenko & I.A. Stroganov & I.V. Pronina, 2019. "The Development of Blockchain Technology in Russia: Outlook and Trends," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 279-289.
    • Handle: RePEc:ers:ijebaa:v:vii:y:2019:i:2:p:279-289
    as

    Download full text from publisher

    File URL: https://ijeba.com/journal/244/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jiani Wu & Nguyen Khoi Tran, 2018. "Application of Blockchain Technology in Sustainable Energy Systems: An Overview," Sustainability, MDPI, vol. 10(9), pages 1-22, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Feng Xue & Kang Chang & Wei Li & Qin Wang & Haitao Zhao & Hui Zhang & Yiyang Ni & Wenchao Xia, 2022. "Blockchain Smart Contract-Enabled Secure Energy Trading for Electric Vehicles," Energies, MDPI, vol. 15(18), pages 1-15, September.
    2. Ernest Barceló & Katarina Dimić-Mišić & Monir Imani & Vesna Spasojević Brkić & Michael Hummel & Patrick Gane, 2023. "Regulatory Paradigm and Challenge for Blockchain Integration of Decentralized Systems: Example—Renewable Energy Grids," Sustainability, MDPI, vol. 15(3), pages 1-27, January.
    3. Dongdong Zhang & Jun Tian & Hui-Hwang Goh & Hui Liu & Xiang Li & Hongyu Zhu & Xinzhang Wu, 2022. "The Key Technology of Smart Energy System and Its Disciplinary Teaching Reform Measures," Sustainability, MDPI, vol. 14(21), pages 1-29, October.
    4. Ahl, A. & Yarime, M. & Goto, M. & Chopra, Shauhrat S. & Kumar, Nallapaneni Manoj. & Tanaka, K. & Sagawa, D., 2020. "Exploring blockchain for the energy transition: Opportunities and challenges based on a case study in Japan," Renewable and Sustainable Energy Reviews, Elsevier, vol. 117(C).
    5. Yahia Baashar & Gamal Alkawsi & Ammar Ahmed Alkahtani & Wahidah Hashim & Rina Azlin Razali & Sieh Kiong Tiong, 2021. "Toward Blockchain Technology in the Energy Environment," Sustainability, MDPI, vol. 13(16), pages 1-20, August.
    6. Ahl, Amanda & Yarime, Masaru & Tanaka, Kenji & Sagawa, Daishi, 2019. "Review of blockchain-based distributed energy: Implications for institutional development," Renewable and Sustainable Energy Reviews, Elsevier, vol. 107(C), pages 200-211.
    7. Thomas Puschmann & Christian Hugo Hoffmann & Valentyn Khmarskyi, 2020. "How Green FinTech Can Alleviate the Impact of Climate Change—The Case of Switzerland," Sustainability, MDPI, vol. 12(24), pages 1-30, December.
    8. Esther Salmerón-Manzano & Francisco Manzano-Agugliaro, 2019. "The Role of Smart Contracts in Sustainability: Worldwide Research Trends," Sustainability, MDPI, vol. 11(11), pages 1-16, May.
    9. Furqan Jameel & Uzair Javaid & Wali Ullah Khan & Muhammad Naveed Aman & Haris Pervaiz & Riku Jäntti, 2020. "Reinforcement Learning in Blockchain-Enabled IIoT Networks: A Survey of Recent Advances and Open Challenges," Sustainability, MDPI, vol. 12(12), pages 1-23, June.
    10. Ahl, Amanda & Goto, Mika & Yarime, Masaru & Tanaka, Kenji & Sagawa, Daishi, 2022. "Challenges and opportunities of blockchain energy applications: Interrelatedness among technological, economic, social, environmental, and institutional dimensions," Renewable and Sustainable Energy Reviews, Elsevier, vol. 166(C).
    11. Gangjun Gong & Zhening Zhang & Xinyu Zhang & Nawaraj Kumar Mahato & Lin Liu & Chang Su & Haixia Yang, 2020. "Electric Power System Operation Mechanism with Energy Routers Based on QoS Index under Blockchain Architecture," Energies, MDPI, vol. 13(2), pages 1-22, January.
    12. Sławomir Bielecki & Tadeusz Skoczkowski & Lidia Sobczak & Marcin Wołowicz, 2022. "Electricity Usage Settlement System Based on a Cryptocurrency Instrument," Energies, MDPI, vol. 15(19), pages 1-35, September.
    13. Amitkumar V. Jha & Bhargav Appasani & Deepak Kumar Gupta & Bharati S. Ainapure & Nicu Bizon, 2023. "A Blockchain-Enabled Approach for Enhancing Synchrophasor Measurement in Smart Grid 3.0," Sustainability, MDPI, vol. 15(19), pages 1-20, October.
    14. Adele Parmentola & Antonella Petrillo & Ilaria Tutore & Fabio De Felice, 2022. "Is blockchain able to enhance environmental sustainability? A systematic review and research agenda from the perspective of Sustainable Development Goals (SDGs)," Business Strategy and the Environment, Wiley Blackwell, vol. 31(1), pages 194-217, January.
    15. Teng, Sin Yong & Touš, Michal & Leong, Wei Dong & How, Bing Shen & Lam, Hon Loong & Máša, Vítězslav, 2021. "Recent advances on industrial data-driven energy savings: Digital twins and infrastructures," Renewable and Sustainable Energy Reviews, Elsevier, vol. 135(C).
    16. Sepideh Mollajafari & Kamal Bechkoum, 2023. "Blockchain Technology and Related Security Risks: Towards a Seven-Layer Perspective and Taxonomy," Sustainability, MDPI, vol. 15(18), pages 1-24, September.
    17. Florentina Magda Enescu & Nicu Bizon & Adrian Onu & Maria Simona Răboacă & Phatiphat Thounthong & Alin Gheorghita Mazare & Gheorghe Șerban, 2020. "Implementing Blockchain Technology in Irrigation Systems That Integrate Photovoltaic Energy Generation Systems," Sustainability, MDPI, vol. 12(4), pages 1-30, February.
    18. Bogdan Cristian Florea & Dragos Daniel Taralunga, 2020. "Blockchain IoT for Smart Electric Vehicles Battery Management," Sustainability, MDPI, vol. 12(10), pages 1-25, May.
    19. Kumar, Sourabh & Barua, Mukesh Kumar, 2023. "Exploring the hyperledger blockchain technology disruption and barriers of blockchain adoption in petroleum supply chain," Resources Policy, Elsevier, vol. 81(C).
    20. Nan Jiang & Qi Han & Guohua Zhu, 2023. "A Three-Dimensional Analytical Framework: Textual Analysis and Comparison of Chinese and US Energy Blockchain Policies," Sustainability, MDPI, vol. 15(6), pages 1-28, March.

    More about this item

    Keywords

    Bitcoin; blockchain; cryptocurrency; legal basis of regulation tendencies in market development.;
    All these keywords.

    JEL classification:

    • O00 - Economic Development, Innovation, Technological Change, and Growth - - General - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:ijebaa:v:vii:y:2019:i:2:p:279-289. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ijeba.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.