Open AccessTHE TREASURY SERVICING PROCESS MANAGING OF BUDGET EXECUTION BASED ON BLOCKCHAIN TECHNOLOGY
Author(s) -
Оксана Савастєєва,
Larysa Borysova,
Тetiana Zhuravlova
Publication year - 2021
Publication title -
ìnfrastruktura rinku
Language(s) - English
Resource type - Journals
ISSN - 2519-2868
DOI - 10.32843/infrastruct54-37
Subject(s) - treasury , blockchain , distributed ledger , ledger , business process , process (computing) , business , accounting , computer science , industrial organization , computer security , work in process , marketing , operating system , archaeology , history
The article explores the possibilities and international experience of using multi-functional and multi-level information blockchain technology, the main purpose of which is reliable accounting of financial transactions with various assets. A mechanism for determining the legitimacy of transactions sequence carried out using distributed ledger technology is considered. The main directions of the distributed ledger technology application by the business community in all spheres and sectors of the global economy are identified. The mechanism of using smart contracts based on block-technology in the Treasury servicing system was designed and presented. The preformed mechanism covers the management process of all Treasury servicing procedures of the estimates expenditure part of budget managers. The complex of advantages from the implementation of distributed ledger technology to the Treasury servicing system for state and local budgets is determined.