Blockchain as a digital implementation of Ronald Coase’s transaction cost theory

Abstract:

In this speech, I will consider the economic system as a transactional model of the exchange of values. In this case, economic relations are reduced to multiple transactions (transfer operations) of value (economic assets) between their participants (agents). The transfer of value is carried out by changing the rights to their ownership in accordance with a specific set of rules (protocol). Within this
approach, the key issue is the choice of rules (protocol) of fixing and transferring rights to values between agents of economic relations, which guarantees the execution of a transaction without loss. The purpose is to propose  solutions to the problem of guaranteed transfer of property rights to values based on Distributed Ledger Technology (blockchain).

Leonid Khatskevych, Head of IoT department at 482.solutions company, an innovator with many years of experience, who believes that the blockchain technology will be able to provide the world with previously unseen possibilities.
Under Leonid’s guidance, the world’s first blockchain-based solution was developed, which is the evidence base that robots can interact with each other through the provision of services and paying for them without intermediaries. Leonid is also a member of the Ukrainian Startup Fund experts’ commission and conducts active educational and scientific activities both at higher educational institutions and at the state level.