Big data as an economic resource for the functioning of decentralized autonomous organizations

Обушний, Сергій Миколайович and Віровець, Денис Володимирович (2021) Big data as an economic resource for the functioning of decentralized autonomous organizations Формування ринкових відносин в Україні (4). pp. 51-63.

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Abstract

Modern digital innovation technologies, such as blockchain, artificial intelligence and social networks, combined with methods of data collection and processing, represent new opportunities at several levels of economic relations. In the context of digitalization of the economy, new forms of cooperation are becoming relevant with a simultaneous reduction in the role of intermediaries. Increasing the number of electronic communication devices will lead to the creation of new forms of cooperation, where borders and distances will not be an obstacle to combine human efforts and resources, while increasing information exchange and strengthening data quality requirements. Decentralized autonomous organizations (hereinafter – DAO) are becoming a reliable and effective substitute for the institution of economic mediation and traditional forms of commercial cooperation. Despite the attractive optimization of a number of processes due to digital freedom and the absence of bureaucracy, a number of issues related to protocol security, legal uncertainty and the temporary complexity of the internal mechanism remain unresolved. The capabilities of blockchain technology for working with digital data provide opportunities for a new type of economic cooperation, where through smart contracts, as a structural part of DAO, a transparent, efficient, fair and democratic system of cooperation is achieved. In this article, we offer an overview of DAO technology as a digital collaboration for big data, focusing on current approaches, opportunities and future directions. A brief overview of blockchain and DAO technology and their necessary characteristics for working with big data, various DAO services for data collection, storage, analysis and confidentiality, use of such data, as well as problems and future directions for further research. Blockchain technologies have the potential for effective big data analytics through enhanced security and privacy, an effective management system, with ideas fully protected by blockchain, and joint investment and control of such digital assets through a DAO as a new form of cooperation.

Item Type:	Article
Uncontrolled Keywords:	digital economy; cryptoeconomics; decentralized autonomous organization; DAO; blockchain; Big Data
Subjects:	Це архівна тематика Київського університету імені Бориса Грінченка > Статті у журналах > Фахові (входять до переліку фахових, затверджений МОН)
Divisions:	Це архівні підрозділи Київського університету імені Бориса Грінченка > Кафедра фінансів та економіки
Depositing User:	Сергій Миколайович Обушний
Date Deposited:	27 Sep 2021 09:49
Last Modified:	27 Sep 2021 09:49
URI:	https://elibrary.kubg.edu.ua/id/eprint/37214

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