BLOCKCHAIN AS A TECHNOLOGY: PROBLEMS AND PROSPECTS OF DEVELOPMENT

To date, the use of innovations in the work of enterprises and other structural units that simplify work and create a tendency to increase profits has become widespread. The study analyzed the stages of innovation in blockchain technology for the last 10 years. It is highlighted that blockchain technology includes the use of a large number of data processing and encryption methods. There were characterized the basics of the application of such modern technology as blockchain, a reflection of successful examples of the implementation of technology in practice. The main principles of this technology are presented, as well as the advantages and disadvantages of blockchain technology. It is highlighted that more than 10 million people in every corner of the world own cryptocurrencies, in particular bitcoins, and the use of such peculiar assets, attractive to investors of the present, primarily relies on the technology described above, that is blockchain. It is noted that innovation as a technology has advantages and disadvantages. It is emphasized that a significant advantage that made the researched technology so popular is its decentralization. It has been studied that the blockchain technology was created in such a way that there is no provision for a server that would be central or a body that would regulate all processes. The advantages of this method for large companies have been distinguished. In addition, the example presents its application in the field of auditing and accounting, as well as in the field of public finance. The most promising areas of application of technology in accounting have been distinguished. The structure of blockchain methods and companies that have successfully implemented it in their work are shown graphically. It has been researched that technology and Bitcoin are considered as one whole, however this is quite a misconception as blockchain can be applied in various areas of life, including education, cyber security, leasing, banking sector, medicine, financial sector, logistics, and insurance. It was found that blockchain is most often used in the field of high-tech enterprises. Based on the results of the study, the main areas that should be continued or started to be investigated in order to improve the implementation of blockchain in economic and scientific terms have been proposed.