Integrating Blockchain Platforms With Big Data Solutions for Regional Innovation Development

Integrating Blockchain Platforms With Big Data Solutions for Regional Innovation Development

Leyla Ayvarovna Gamidullaeva, Vardan Mkrttchian, Alexey Finogeev
Copyright: © 2020 |Pages: 12
DOI: 10.4018/978-1-7998-1104-6.ch011
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The chapter discusses the creation of a mechanism for ensuring reliable and secure interaction among participants in regional innovation systems based on the establishment of smart contracts in the blockchain. The technology allows to reduce the possibility of fraud by dishonest participants, as well as to exclude the need for a third party by transferring its functions to a smart contract. This is important for ensuring confidential and transparent relations between participants in innovative projects, as well as with interested subjects of social and economic activities in the regions. The Ethereum blockchain platform was chosen to create smart contracts. On its basis, there were developed components to perform transactions in contracting, creating, and implementing innovations, transferring intellectual property rights, using rights and licenses for innovation, etc. The main component of the system is a distributed transaction register with digital copies of innovation objects.
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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).

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