Planning, Forecasting and Management of Sustainable Innovative Development of the Regions on the Basis of Blockchain Technology
Authors: Eremina Irina ,   Central Russian Institute of Management – Branch of RANEPA, Zolotarev Timofey ,   Peter the Great St.Petersburg Polytechnic University
Published: July 2024

The use of blockchain technology in regional development is a relatively new area of research that is just beginning to develop actively. The main aspects of the novelty of this study include the following: exploring the possibilities of using blockchain technology to improve transparency and management efficiency within the framework of regional programs and projects, evaluating the potential of blockchain technology to increase trust and security in interaction between participants in the regional innovation ecosystem, and developing strategies of of blockchain technology to stimulate innovative development of the regions. The purpose of the study is to determine the possibilities of using blockchain technology to stimulate sustainable and innovative development of the regions. Within the framework of the study, a fault-tolerant distributed system for collecting data from blockchain network was developed to strategize sustainable innovative development of the regions based on actor model with the subsequent justification of its economic effectiveness for the Department of Information Technology of Orel region. To achieve this goal, the following tasks were solved: research of potential applications of blockchain technology to ensure sustainable development of the regions, analysis of possible economic benefits from blockchain technology implementation into regional processes, and research of expected technological and organizational changes as a result of its application. Practical significance of the research includes the following: the study suggests a specific practical application of blockchain technology to achieve sustainable innovative development of the regions, thus creating the basis for the development of specific strategies and actions for the government, business and the society as a whole. The study provides practical recommendations on the use of blockchain technology to develop strategies for innovative development of the regions, which can be very useful for managers and executives at the regional and local levels. The following methods were used in the course of the study: the method of studying and summarizing scientific literature (it was used to obtain general information about the object under study for its qualitative use), methods of analysis, synthesis, grouping and classification of data for a detailed study of the object and subject of research, and the method of distributed modeling for collecting data from blockchain network. As a result, it was found that use of blockchain technology can significantly enhance the sustainable innovative development of the regions, which ensures transparency, security and reliability of records and transactions, which contributes to improving the efficiency of processes in various sectors of regional economy. The use of this technology can improve regional governance processes, allowing more efficient data collection and analysis, control of financial resources allocation and prevent corruption. In the course of the study, a system for strategizing sustainable innovative development of the regions based on the actor model of blockchain network was created. Functional modules of the system, which will be responsible for one or another part of the system logic, are highlighted. A fault-tolerant distributed architecture was also developed, including all the necessary functional modules. The results of the study allow recommending the use of this technology in development strategies of regional economies in to make them more innovative, sustainable and competitive. Such use of technology can be implemented through creation of blockchain platforms, smart contracts and digital identifiers that will regulate and simplify processes in various fields of activity, including public administration, business and financial sector. Study of blockchain technology impact on improving transparency and management efficiency in the regions may be further promising area of the research. The analysis of how the blockchain use can increase the level of trust between citizens and authorities, reduce corruption and improve decision-making processes can lead to new development strategies design of the regions. To explore the blockchain use in the field of municipal management, utility bills accounting, local public procurement and other aspects of regional life is also worth doing.