LEGAL REGULATION OF THE MECHANISM OF APPLYING BLOCKCHAIN TECHNOLOGY IN THE MODERN CONDITIONS OF DIGITALIZATION OF THE ECONOMY OF UKRAINE .

The purpose of the article is to study the theoretical foundations and practical aspects of legal regulation of the mechanism of applying blockchain technology in the modern conditions of digitalization of the economy of Ukraine. The results of the conducted research give reasons to state that the legal regulation of the mechanism of applying blockchain technology in the modern conditions of digitalization of the economy of Ukraine is too weak and needs to be revised and improved. The article defines the essence of blockchain technology, which is understood as a decentralized database formed by participants and provides conditions for preventing actions related to the falsification of data due to their chronological recording and public confirmation by all participants of the transaction network. On the basis of a detailed study of the outlined issues, significant problematic aspects of the use of blockchain technology at the global, national and regional levels have been identified, the most acute of which at the current stage is the imperfection of the legal mechanism of applying blockchain technology in the modern conditions of digitalization of the economy. The results of empirical studies have proved the dependence of the development of blockchain technology on the level of development of the country and the state of the digitalization process of the national economy. It has been established that the highest share of the use of blockchain technologies in today's conditions is observed in the USA (40%) and Great Britain (17%). In order to solve problematic issues, the main areas of improving the legal regulation of the mechanism of applying blockchain technology in Ukraine are proposed, among which the need for the development and adoption of the Law of Ukraine "On Virtual Assets" is justified, as well as the need for the implementation of international and European law in the field of digitalization and regulation of the development of digital technologies in the national legislation of Ukraine. [ABSTRACT FROM AUTHOR]