Blockchain technology in the banking sector

2021 ◽  
Vol 20 (1) ◽  
pp. 136-143
Author(s):  
Olga A. Skiba
Keyword(s):  
Banking Sector ◽  
Blockchain Technology ◽  
Russian Economy ◽  
Development Prospects

The newly invented blockchain technology is beginning to show its capabilities and occupy many sectors of the economy. One of these is the banking sector. Considering the opportunities, development prospects, and challenges of introducing blockchain technology into the economy, will blockchain technology be able to meet its expectations? And how blockchain technology finds its application in the Russian economy.

ANALYSIS OF APPLICATION OF BLOCKCHAIN TECHNOLOGIES FOR THE BANKING SECTOR

2017 ◽  
Author(s):  
Svitlana Ilkovych ◽  
◽  
Maryna Korol ◽  
Keyword(s):  
Banking Sector ◽  
Blockchain Technology ◽  
Current State ◽  
Global Banking ◽  
Banking Institutions ◽  
Pros And Cons ◽  
Further Development

The article considers the essence of blockchain technology and the possibility of its application in the banking sector. The current state of development and application of blockchain technologies in various industries is analyzed. The pros and cons of using blockchain technologies for the banking sector are identified. Emphasis is placed on the role of blockchain technologies in the further development of the banking sector. The most promising directions of development of this technology are considered. Particular attention is paid to examples of the use of blockchain technology by global banking institutions.

RISKS OF THE ECOSYSTEM MODEL OF DEVELOPMENT OF THE BANKING SECTOR OF THE RUSSIAN ECONOMY

2021 ◽  
Vol 1 (3) ◽  
pp. 153-140
Author(s):  
Назаренко Галина Владимировна ◽  
◽  
Лебедева Наталья Юрьевна ◽  
Keyword(s):  
Banking Sector ◽  
Ecosystem Model ◽  
Russian Economy

Russian competition law: history, current state and development prospects

2020 ◽  
pp. 6-15
Author(s):  
D. I. Seregin
Keyword(s):  
Competition Law ◽  
Internal Conflicts ◽  
Russian Economy ◽  
Current State ◽  
Protection Legislation ◽  
History Of ◽  
Development Prospects

The article is devoted to the study of prerequisites for the codification of competition protection legislation.The author starts from the history of competition law, which is divided into four stages, and comes to the conclusion that Russian competition law was formed after the transition of the Russian economy to the market and does not have continuity with pre-existing legislation.The study of the current state of competition law allowed the author to draw a conclusion about the relevance of its codification. This conclusion is justified, in particular, by the considerable volume of regulatory material that is devoted to the protection of competition, its distribution on different legislative acts, as well as the presence of internal conflicts and inconsistencies in it.

scholarly journals Russia’s banking sector during the pandemic

2022 ◽  
pp. 157-163
Author(s):  
E. N. Gavrilova
Keyword(s):  
Systematic Approach ◽  
Banking Sector ◽  
Banking System ◽  
Policy Instruments ◽  
Graphical Methods ◽  
Real Economy ◽  
Good Test ◽  
Russian Economy ◽  
Monetary Authorities ◽  
The Impact

Quarantine and self-isolation have become a new challenge for the Russian economy, changed many areas of our life, revealed new weaknesses in the banking system and monetary regulation of the economy, and also become a good test for the post-crisis financial system. In this article using a systematic approach to the study of information, analytical and graphical methods the dynamics of the Russian banking sector during the development of the coronavirus pandemic and the specifics of recovery from the crisis have been investigated. The innovations and improvements brought about by the pandemic have been studied. The Central Bank of Russia’s monetary policy instruments used to mitigate the impact of the pandemic on the real economy in general and on the banking sector in particular have been reviewed. The features of anti-crisis measures taken by the monetary authorities in our country have been revealed. 

scholarly journals Analyzing Impact of Computer Attacks on the Banking System of the Russian Federation

2019 ◽  
pp. 202-210
Author(s):  
A. A. Salcutan
Keyword(s):  
Russian Federation ◽  
Banking Sector ◽  
International System ◽  
Banking System ◽  
Russian Economy ◽  
Computer Attacks ◽  
The Russian Federation ◽  
The Impact ◽  
Swift System

The article analyzes damage caused by attacking finance organizations in the Russian Federation through activization of hacker groups. The mentioned attacks were mainly directed at banking cards’ processing, cash machines and the SWIFT system, an international system of transmitting finance information and payments. The growth in hacker penetrations can be seen in all sectors of Russian economy, it is based on informational confrontation and aims at destabilization of considerable objects of critical information infrastructure. Today special attention is paid to attacks of hacker groups, which get financing from states and criminal groupings in order to exert influence on the leading banks of the world. The author investigated the key methods of attacks of finance organizations. The role of the Federal service on technical and export control and the Department of information security of the Bank of Russia was described. By assessing the impact of computer attacks the author came to the conclusion that the Russian banking sector is vulnerable to computer attacks on informational systems that could cause damage not only to small but also big credit organizations, which possess over 60% of the Russian banking sector assets.  

Blockchain Technology: Opportunities and Challenges for Small and Large Banks During COVID-19

2021 ◽  
pp. 2140001
Author(s):  
Grazia Dicuonzo ◽  
Francesca Donofrio ◽  
Antonio Fusco ◽  
Vittorio Dell’Atti
Keyword(s):  
International Institutions ◽  
Business Processes ◽  
Banking Sector ◽  
New Technologies ◽  
Social Systems ◽  
Emerging Technology ◽  
Case Study Methodology ◽  
Blockchain Technology ◽  
Study Methodology

New technologies are assuming a prominent role in the transformation of economic and social systems and are capturing the interest of many businesses and international institutions. Blockchain is an emerging technology that is relevant in all sectors, as its applications can be adapted to multiple contexts with possible significant advantages for business. The ability to perform transactions without a central entity acting as a trust guarantor, typical of blockchain, offers the opportunity to rethink the way business processes are managed. Based on the case study methodology, this work aims to understand how blockchain could affect the business model in the banking sector and how the COVID-19 pandemic impacts the implementation of blockchain.

Relative Importance of Blockchain in Cryptocurrency, Banking & Health Care

2020 ◽  
Vol 8 (12) ◽  
pp. 6-25
Author(s):  
Hari Priya Ponnakanti ◽  
Bilal Gonen
Keyword(s):  
Large Scale ◽  
Banking Sector ◽  
Trade Credit ◽  
Future Research ◽  
Large Database ◽  
High Scale ◽  
Blockchain Technology ◽  
Medical Sector ◽  
Recent Developments ◽  
Pros And Cons

This paper looks at the opportunities and challenges of implementing blockchain technology across medical, finance and banking sectors, and provides a clear view which can enable Blockchain for more extents. After going through few articles and papers related to applications of Blockchain, we gained a vivid knowledge on pros and cons on Blockchain applications from each article. Few drawbacks that we encountered are using Power of Work (POW) in medical sector which is destroying the computing ability at a stage when system is getting bigger and eventually which is wasting lots of resources. One study over conceptual proposal on blockchain is the idea of using trade credit as the value of transactions, and this trade credit is in the scope of trade secret which improves trade confidentiality and makes it more secure. Moreover, centralization systems have few risks owing to their dependence on a high scale which could tamper the data or can even block access, change the rules and might even completely shut down the system. Few more drawbacks are designing and building a secure blockchain system is much more difficult on large-scale of banking sector with large database. To address these challenges, recent developments in blockchain technology are enabling novel opportunities in every possible sector by using Trust-worthy cloud, IoT and artificial intelligence, which makes it more powerful and secure. After analyzing Blockchain implementations and identifying their limitations, we conclude with several promising directions for future research.

New Tools for Cyber Security Using Blockchain Technology and Avatar-Based Management Technique

2019 ◽  
pp. 105-122 ◽  
Author(s):  
Vardan Mkrttchian ◽  
Leyla Ayvarovna Gamidullaeva ◽  
Yulia Vertakova ◽  
Svetlana Panasenko
Keyword(s):  
Cyber Security ◽  
Digital Economy ◽  
Management Technique ◽  
Closed Model ◽  
Security Issues ◽  
Blockchain Technology ◽  
Current State ◽  
Management Techniques ◽  
Visualization Techniques ◽  
Development Prospects

The chapter introduces the perspectives on the use of avatar-based management techniques for designing new tools to improve blockchain as technology for cyber security issues. The purpose of this chapter was to develop an avatar-based closed model with strong empirical grounding that provides a uniform platform to address issues in different areas of digital economy and creating new tools to improve blockchain technology using the intelligent visualization techniques. The authors show the essence, dignity, current state, and development prospects of avatar-based management using blockchain technology for improving implementation of economic solutions in the digital economy of Russia.

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