Integrating Blockchain Platforms With Big Data Solutions for Regional Innovation Development

Background

The world experience in transition to the digital economy is disclosed in the works by Tapscott D. (1996), Brynjolfsson E. & Kahin B. (Eds.) (2003), Wetherbe J.C., Turban E., Leidner D.E. & McLean E.R. (2008).

Digital economy operates at three levels - markets and industries, platforms and technologies, environment (Bershadsky, et al, 2017). At the first level, suppliers and consumers interact, at the second level; competencies are formed for the development of markets and sectors of the economy. The third level is the environment that creates conditions for the development of platforms and technologies. Technological tools and management models are necessary for its successful operation and development. They will participate in all three levels, create “cross-cutting” technologies to operate in the global market and develop infrastructure for the digital economy (Mkrttchian, et al, 2016).

Many researches today are devoted to the investigation of the technologies and processes concerned with Industry 4.0 and its impact on economic development. Industry 4.0 supposes the use of network approach that is based on the ability of creating smart products and components (Kohlberg & Zühlke, 2015). According to the authors (Kohlberg & Zühlke, 2015) Industry 4.0 enables new implementation areas through the potential of Industry 4.0 technologies such as powerful, flexible and affordable Cyber Physical Systems’ applications with various production types.

The Internet of Things (IoT), Big Data and blockchain are three main trends that could combine to create an entirely new methods and tools for managing regional innovation system and provide their economic development. This development looks at the 'art of the possible' and this new way of thinking could provide powerful ways for a business to run autonomously (Sun, et al., 2015).