Utilizing blockchain for sustainable development of international supply chains amid economic challenges

Authors

  • Marat Safiullin Kazan (Volga Region) Federal University, Russia Center for Advanced Economic Research, Academy of Sciences of the Republic of Tatarstan, Russia http://orcid.org/0000-0003-3708-8184
  • Leonid Yelshin Center for Advanced Economic Research, Academy of Sciences of the Republic of Tatarstan, Russia Center for Strategic Assessments and Forecasts, Kazan (Volga Region) Federal University, Russia TISBI University of Management, Russia http://orcid.org/0000-0002-0763-6453
  • Marat Sharifullin Center for Advanced Economic Research, Academy of Sciences of the Republic of Tatarstan, Russia Branch-National Bank for the Republic of Tatarstan of the Volgo-Vyatka Main Directorate of the Сentral Bank of the Russian Federation, Russia

DOI:

https://doi.org/10.20397/2177-6652/2023.v23i4.2717

Keywords:

Blockchain, Transnational Payment Systems, Import Substitution, International Supply Chains, Sustainability of Economic Development

Abstract

The work aims to develop and test methodological approaches to the study of the prospects for macroeconomic growth of the national economy of the Russian Federation within the framework of integration into the system of export-import operations of blockchain technologies, which can significantly contribute to the development of the global system of international payments, and stimulate international trade under economic sanctions. The study is based on a descriptive express analysis of the processes under study, as well as mechanisms for constructing a system of recursive equations that make it possible to determine the impact of the growth rates of cross-border cash flows on the dynamics of gross domestic product. Based on the developed model, it is established that a 1% reduction in the volume of transnational cash flows creates the potential for a 0.45% reduction in the gross domestic product of the Russian Federation. It is proved that localization of these risks can be provided based on the introduction of blockchain technologies into the system of cross-border payments of the Russian Federation, forming a new basis for the cash flows in the conditions of emerging systemic transformations in the external environment. The estimates obtained not only indicate the prospects for the use of blockchain in the implementation of transnational payments but also determine the potential for their use in localizing the risks of increasing sanctions pressure, expressed, in particular, in restricting access to international clearing services, payment systems (SWIFT, etc.). The scope of the results is the development of adaptive mechanisms to stimulate transnational supply chains in the context of systemic transformations.

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Published

2023-05-03

How to Cite

Safiullin, M., Yelshin, L., & Sharifullin, M. (2023). Utilizing blockchain for sustainable development of international supply chains amid economic challenges. Journal of Management & Technology, 23, 243–259. https://doi.org/10.20397/2177-6652/2023.v23i4.2717

Issue

Vol. 23 (2023): Número Especial

Section

ARTIGO

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