Prospects for Implementing Blockchain Data Storage Technology as a Process of Digital Transformation of Society

Abstract

The article discusses the prospects for the development of blockchain technology through the study of this technology as a process of digital transformation of society. Blockchain is meant as a chain of data blocks that allow you to store information in a distributed manner, with each of the blocks connected to the previous one and provided with a digital signature, which excludes the possibility of replacing or deleting any part of the data after adding it to the system. The advantages and disadvantages of blockchain, as well as the state of its market, are analyzed. Blockchain is effective in areas where authorship of all actions is important, and reliable data synchronization is necessary - in banks, commodity and stock exchanges, insurance companies, certification centers, and so on. Special attention is paid to practical and legal examples of the implementation of this technology and the problems associated with its use [11].