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О Распределенном Реестре И Возможности Его Применения // Distributed Ledger And Its Potential Application

Author

Listed:
  • I. Belarev A.

    (Financial University)

  • A. Obaeva S.

    (Financial University)

  • И. Беларев А.

    (Финансовый университет)

  • А. Обаева С.

    (Финансовый университет)

Abstract

The article focuses on the advantages of distributed ledger technology in view to apply it within existing financial system. The article is highly relevant as the technology is a perfect opportunity to develop the financial system in terms of reducing costs and improving efficiency. The authors suggest a few brief definitions of such terms as distributed ledger, block-chain, bitcoin and mining. The article points out and describes special features of distributed ledger technology. Based on the definitions, the article outlines operation principles of the distributed ledger, block-chain, bitcoin and mining. Also, it compares cash against cryptocurrency - bitcoin. The article examines the possibilities of using distributed ledger technology in clearing, payment and settlement processes including ways of money transfer, payments for goods, securities and derivative financial instruments. Also, the article provides statistical data on the use of cryptocurrencies considering the cases of their capitalization, price, money supply and numbers of transactions submitted within 24 hours, 7 and 30 days. The article emphasizes the increase in volume of such transactions in the US, China, Ukraine and at the same time points to the decline in this type of transactions in Russia. In addition to statistical data, the article provides information on the types of distributed ledger systems along with comparison between different types of systems. The article describes processes of transferring money, as well as transactions with goods, securities and derivative financial instruments in modern infrastructure environment. For illustrative purposes, the authors outline how the process would proceed if distributed registry technology was implemented. The authors conclude that advantages of distributed ledger technology overweight its shortages if one takes into account operational, technical, financial and legal aspects. Application of distributed ledger technology would increase efficiency of payments, clearing and settlement, and in the long term, distributed ledger technology could eliminate most shortages of the system existing nowadays on the financial market. В статье описываются преимущества технологии распределенного реестра для применения в существующей финансовой системе. Актуальность данной статьи состоит в том, что технология представляет собой перспективную возможность для развития финансовой системы в части снижения издержек и повышения ее эффективности. Дается краткое определение терминов распределенного реестра, блокчейна, биткойна и майнинга. Выделяются и описываются характерные особенности технологии распределенного реестра. На основании определений описывается принцип работы распределенного реестра, блокчейна, биткойна и майнинга. Проводится сравнение наличных денег и криптовалюты биткойн. В тексте статьи рассматриваются возможности применения технологии распределенного реестра для проведения процессов клиринга, платежей и расчетов, в том числе способов перевода денежных средств, расчетов за товары, по ценным бумагам и производным финансовым инструментам. А также приводятся статистические данные использования криптовалют на примере их капитализации, цены, денежной массы и объемах сделок, представленных за 24 часа, 7 и 30 дней. Упоминаются новые рекорды в объеме сделок для таких стран как США, Китай, Украина и спад в России. Помимо статистических данных, предоставляется информация о типах систем распределенного реестра, с примерами и сравнением между различными типами этих самых систем. Описываются процессы перевода денежных средств, операции с товарами, ценными бумагами и производными финансовыми инструментами с использованием современной инфраструктуры финансовой системы. И предоставляется контрастное сравнение того, как бы проходил процесс с использованием технологии распределенного реестра. Делается вывод о перспективе технологии распределенного реестра над его недостатками с точки зрения операционной, технической, финансовой и юридической стороны. Перспективой реализации технологии распределенного реестра может стать повышение эффективности платежей, клиринга и расчетов, а в долгосрочной перспективе технология распределенного реестра способна устранить большинство недостатков современной системы на финансовом рынке.

Suggested Citation

  • I. Belarev A. & A. Obaeva S. & И. Беларев А. & А. Обаева С., 2017. "О Распределенном Реестре И Возможности Его Применения // Distributed Ledger And Its Potential Application," Финансы: теория и практика/Finance: Theory and Practice // Finance: Theory and Practice, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 21(2), pages 94-99.
    • Handle: RePEc:scn:financ:y:2017:i:2:p:94-99
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    References listed on IDEAS

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    1. Anton Badev & Maria Baird & Timothy Brezinski & Clinton Chen & Max Ellithorpe & Linda Fahy & Vanessa Kargenian & Kimberley Liao & Brendan Malone & Jeffrey C. Marquardt & David C. Mills & Wendy Ng & An, 2016. "Distributed Ledger Technology in Payments, Clearing, and Settlement," Finance and Economics Discussion Series 2016-095, Board of Governors of the Federal Reserve System (U.S.).
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