DEVELOPMENT OF BLOCKCHAIN TECHNOLOGY FOR EFFECTIVE INTERACTION OF CIVIL SOCIETY AND STATE

Maryna Burdonosova

doi:10.23856/4421

Maryna Burdonosova State University of Infrastructure and Technologies https://orcid.org/0000-0003-1050-6892

Keywords: blockchain, Bitcoin, free economic entity, cryptocurrency, electronic money

Abstract

The prospects of development civil society and the rule of law in EU and Ukraine are based on the thesis of “autonomous person”. Free economic entity – endowed with economic rights and freedoms, including the right of private property, the right to choose forms and types of employment and business activity. Blockchain technology is quite promising for civil society growth, considering that it can be applied to any transaction between any participant globally without intermediaries and partnerships.

Author determines the main reasons for the need for legal regulation of crypto currency and analyses the financial and legal regulation of electronic money and cryptocurrency in EU, USA and Ukraine. This made possible to analyze development of blockchain technology and to formulate benefits of its application for effective interaction of civil society and state.

The application of the historical legal method allowed studying the genesis of scientific research of cryptocurrency and development of relevant legislation in EU, USA and Ukraine. Using the formal-logical method contributed to determine the main reasons for the need of cryptocurrency`s legal regulation. In the process of an analytical review of the financial and legal regulation of the circulation of electronic money and cryptocurrency in USA, UK and Ukraine a comparative method was used, which made possible to formulate benefits of blockchain technology.

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