Blockchain Technology and Its Potential for Supporting Sustainable Urban Development
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Abstract
Blockchain is a key innovation that has revolutionized our understanding of data storage, transmission and processing. It allows the creation of systems that do not depend on central authorities or intermediaries, significantly increasing the security, transparency and sustainability of these systems. This study uses a combined methodology of both qualitative and quantitative approaches, including the use of bibliometric metrics and systematic literature reviews. The study aims to analyze the potential of blockchain technology to support sustainable urban development, particularly focusing on the opportunities it offers to improve urban governance and improve the quality of life for residents.
The research findings highlight that blockchain can be an effective tool for improving societal well-being while acknowledging its potential risks and challenges. The study examines the international experience of institutionalizing blockchain technology and sheds light on the legislative initiatives of various countries regarding its regulation. It also explores the characteristics and examples of blockchain implementation in countries where the technology is most widespread, including Ukraine.
However, the study notes the uneven legal regulation and adoption of blockchain technology around the world. Moreover, at the moment there is no single standard for the legal regulation of this technology, as regulatory models are still being developed and gradually implemented in various spheres of public life. Blockchain has the potential to increase transparency, ensure product traceability and promote efficient use of resources, thereby supporting equitable economic growth and environmental protection.
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