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American Journal of Business and Operations Research
Volume 9 , Issue 1, PP: 33-46 , 2023 | Cite this article as | XML | Html |PDF

Title

Using Blockchain Technologies to Manage Business in the Digital Economy

  Ulugbek Kubayev 1 * ,   Akram Ishnazarov 2

1  Samarkand branch of Tashkent State University of Economics
    (kubaevulugbek1975@gmail.com)

2  Tashkent State University of Economics
    (a.ishnazarov77@gmail.com)


Doi   :   https://doi.org/10.54216/AJBOR.090104

Received: July 11, 2022 Accepted: January 07, 2023

Abstract :

Blockchain is a distributed data storage technology that includes information about all transactions of system participants in the form of a "blockchain". Blockchain offers a reliable way to perform processes, ensures stable performance, eliminates the possibility of data duplication, and reduces costs. The promising technology is rapidly gaining popularity and is being implemented in various fields, including business process management. However, even though blockchain technology has been around for several years, many business leaders are still not familiar with it because there is very little information and blockchain technology has not yet been widely used in enterprise infrastructure. Therefore, blockchain technology for business process management remains a hot topic, and the significant advantages of blockchain technology in improving business efficiency cannot be ignored. Thus, this article discusses the main features of using blockchain technology in the management of business processes in the digital economy. Also, the main advantages and disadvantages of technology implementation are presented, problems that business leaders may face are considered. In addition, the important aspects of the use of blockchain technology in the management of business processes in the digital economy are analyzed.

Keywords :

Digital economy; blockchain , business process management; financial instruments; electronic documents; execution logic; BPM; Deviation Method.

References :

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[2]  The Law of the Republic of Uzbekistan “On electronic payments”. Adopted by the Legislative Chamber on November 2, 2005, approved by the Senate on December 3, 2005.

[3]  Annie Mike. “Towards an ethics of convocation, observation, credibility and timeliness.” 2015. Science, Technology, and Human Values 41 (1): 93–117.

[4]  Atsori M. “Blockchain technology and decentralized management: is the state still necessary?”, 2015. (http://papers.ssrn.com/sol3/Papers.cfm?abstract_id=2709713).

[5]  Dong  Hye  et  al.  “Virtual  Currencies  and  Beyond:  Initial  Considerations,”  2016.  Washington,  D.  S.: International Monetary Fund.

[6]  “Blockchains: A Big Chain of Confidence in Things,” Economist. October  31, 2015 “The technology underlying bitcoins allows people who do not know or do not trust each other to create a reliable ledger. it has consequences far beyond cryptocurrency”.

[7]  M. Hammer, J. Champy, Reengineering the Corporation: A Manifesto for  Business Revolution (Harper Business, 2001)

[8]  E.G.Oikhman,  E.V.Popov  Business  reengineering:  organization  reengineering  and  information technology. –M. Finance and statistics, 1997.-336 p.p.

[9]  Davenport, T.H. and Short, J.E. (1990) The New Industrial Engineering: Information Technology and Business Process Redesign. Sloan Management Review, 31, 11-27.

[10]  H.  Smith  and  P.  Fingar,  “Business  Process  Management,  the  Third  Wave:  The  Breakthrough  That Redefines Competitive Advantage for the Next Fifty Years,” Meghan- Kiffer Press, New York, 2006.

[11]  Morris David Z. "A venture fund without blockchains based on a blockchain attracts $ 100 million and counts." Fortune. Source May 23, 2016.

[12]  Brito Jerry, Castillo Andrea. Bitcoin: a textbook for politicians. Fairfax, VA: Mercatus Center, George Mason University. October 22, 2013.Web: 

[13]  http: //www.reglament.net/bank/raschet/2005_4_article.htm

[14]  http://www.it.ru/press_center/publications/3818/ 


Cite this Article as :
Style #
MLA Ulugbek Kubayev, Akram Ishnazarov. "Using Blockchain Technologies to Manage Business in the Digital Economy." American Journal of Business and Operations Research, Vol. 9, No. 1, 2023 ,PP. 33-46 (Doi   :  https://doi.org/10.54216/AJBOR.090104)
APA Ulugbek Kubayev, Akram Ishnazarov. (2023). Using Blockchain Technologies to Manage Business in the Digital Economy. Journal of American Journal of Business and Operations Research, 9 ( 1 ), 33-46 (Doi   :  https://doi.org/10.54216/AJBOR.090104)
Chicago Ulugbek Kubayev, Akram Ishnazarov. "Using Blockchain Technologies to Manage Business in the Digital Economy." Journal of American Journal of Business and Operations Research, 9 no. 1 (2023): 33-46 (Doi   :  https://doi.org/10.54216/AJBOR.090104)
Harvard Ulugbek Kubayev, Akram Ishnazarov. (2023). Using Blockchain Technologies to Manage Business in the Digital Economy. Journal of American Journal of Business and Operations Research, 9 ( 1 ), 33-46 (Doi   :  https://doi.org/10.54216/AJBOR.090104)
Vancouver Ulugbek Kubayev, Akram Ishnazarov. Using Blockchain Technologies to Manage Business in the Digital Economy. Journal of American Journal of Business and Operations Research, (2023); 9 ( 1 ): 33-46 (Doi   :  https://doi.org/10.54216/AJBOR.090104)
IEEE Ulugbek Kubayev, Akram Ishnazarov, Using Blockchain Technologies to Manage Business in the Digital Economy, Journal of American Journal of Business and Operations Research, Vol. 9 , No. 1 , (2023) : 33-46 (Doi   :  https://doi.org/10.54216/AJBOR.090104)