SOME LEGAL ISSUES IN THE APPLICATION OF BLOCKCHAIN TECHNOLOGIES IN INTERNATIONAL TRADE
Keywords:
blockchain, legislation, development of international trade, digital technologyAbstract
This article provides an analysis of blockchain technology in the context of international trade. Rapidly developing and transforming detection capabilities attract the attention of large public, governmental and international structures that direct spatial resources to the study and practical application of this technology. The governments of the countries of the world show particular interest in distributed ledger technologies, seeing in the blockchain the ability to improve the quality of public and social services, increase the efficiency of administrative processes, public administration as a whole, as well as the international trade system. Today, the development of blockchain technologies in international trade is of great interest to business circles. This factor is directly related to the expectations that the blockchain can become a solution to reduce costs and increase the efficiency of international trade. One of the strategic priorities of Uzbekistan is administrative reform, liberalization and growth of the competitiveness of the economy, transformation of the social sector. The successful implementation of these tasks depends on the use of innovative approaches, innovative thinking, and bold experiments in solving problems. The author analyses the potential impacts of blockchain for the development of international trade. It also provides identifying legal opportunities and challenges of implementation of blockchain in the system of international trade.
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