Blockchain integration for enhancing sustainable development and resilience of international supply chains amid economic sanctions
DOI:
https://doi.org/10.37497/2965-7393.SDGs-Countries.v6.nsdgs.59Keywords:
Blockchain, International Supply Chains, Economic Sanctions, Sustainable Development, Cross-border PaymentsAbstract
Objective: This study aims to develop and test methodological approaches for analyzing the prospects of macroeconomic growth in the Russian Federation through the integration of blockchain technologies in export-import operations. The research focuses on how blockchain can enhance international payment systems and stimulate international trade under economic sanctions.
Methodology: The study employs a descriptive express analysis and a system of recursive equations to explore the dynamics between cross-border cash flows and GDP growth. Data from the World Bank and the Central Bank of Russia are used to model the impact of transnational cash flow variations on the GDP of the Russian Federation. The methodological framework includes constructing and solving a system of econometric equations to predict economic outcomes based on changes in cash flow dynamics.
Results: The findings reveal that a 1% reduction in transnational cash flows could potentially decrease the GDP of the Russian Federation by 0.45%. The introduction of blockchain technologies in cross-border payment systems is shown to mitigate these risks by providing a secure and efficient alternative to traditional international payment methods. This integration not only enhances the resilience of supply chains but also supports sustainable economic development amid sanctions.
Conclusions: The study concludes that blockchain technology offers significant potential to sustain international supply chains and economic stability under sanctions. By ensuring secure and efficient cross-border transactions, blockchain can help localize risks associated with disruptions in international payment systems, thereby fostering sustainable economic growth. The research underscores the importance of adopting innovative technologies to navigate economic challenges and enhance the resilience of national economies.
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