APPLICATION OF BLOCKCHAIN TECHNOLOGIES IN ENSURING THE SECURITY OF LENDING TRANSACTIONS IN THE DIGITAL ECONOMY
DOI:
https://doi.org/10.55439/EIT/vol11_iss2/i33Keywords:
Blockchain, banking, lending, smart contract, hash function, Merkle tree, Electronic digital signature, transaction, decentralized network, cryptocurrencyAbstract
Currently, the process of digitization of the financial and banking sectors in our country continues consistently. The banking sector is one of the important links of the digital economy. Therefore, the introduction of modern innovative technologies in the digitization of this field is one of the important tasks. This article presents the opinions of world scientists and models of financial organizations on the application of blockchain technology to the field of bank lending, the blockchain model of the UzBCS platform for the implementation of the lending process, blockchain blocks and cryptographic algorithms used in the implementation of the blockchain lending process. Also, the proposed cryptographic algorithms and blockchain system software implementation results are presented.
References
The process of introducing blockchain technology into financial systems is complex and requires technical resources. But blockchain is considered highly crypto-tolerant, thus resistant to crypto-attacks. It is necessary to gradually introduce blockchain technology to all financial organizations in our country.
Blockchain is an effective tool for effective regional, regional and international money transfers. In this case, funds are tokenized based on international agreements, or cooperation with international organizations that trade in other cryptocurrencies can be developed through the production of a national cryptocurrency.
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