Open AccessTheoretical comprehension of the reasonableness of application of blockchain technology in budgetary relations (on the experience of Netherlands)
Author(s) -
Кинсбурская Вероника Андреевна
Publication year - 2020
Publication title -
finansy i upravlenie
Language(s) - English
Resource type - Journals
ISSN - 2409-7802
DOI - 10.25136/2409-7802.2020.1.32113
Subject(s) - blockchain , transparency (behavior) , procurement , audit , database transaction , process (computing) , business , order (exchange) , subsidy , industrial organization , economics , accounting , computer science , finance , computer security , marketing , market economy , programming language , operating system
The object of this research is the expected positive and negative effects resulting from use of blockchain technology in operations of budgetary allocations. This paper analyzes the stance of Russian research on the question of need for improving the information and technological component of the budgetary process in order to ensure adherence to the principle of transparency of budgets, as well as improvements to the tools of auditing and evaluating the efficiency of budget spending in the Russian Federation. The author explores the foreign experience of practical implementation of blockchain technology into budgetary procedures. The main conclusion of the conducted research consists in substantiation of the prospects of implementing blockchain technology into the process of state (municipal) procurement, as well as process of completing a transaction involving inter-budgetary transfers, subsidies and budget investments. A blockchain model is proposed, which can be allowable as a technological platform in the aforementioned spheres of budgetary relations. The author describes the expected positive effects from use of blockchain functions and its built-in smart contracts within the indicated spheres of budgetary relations.