International Scientific Journals
of Scientific Technical Union of Mechanical Engineering "Industry 4.0"

In any economic system, the transportation of goods is critical to the functioning of commerce and industry. In the world of international trade and transportation of goods, the risks associated with the transportation of goods are inevitable. Although technological logistics systems are developing at an extraordinary pace thus ensuring the efficiency and safety of transportation, factors such as natural disasters, technical problems, theft and damage can lead to serious losses for both carriers and cargo owners.

Blockchain and distributed ledger are terms that were “born” only in the last decade. Their appearance and growing popularity are associated primarily with the rapid development of Bitcoin and other cryptocurrencies. However, the capabilities of blockchain technology based on distributed ledger far outweigh the cryptocurrencies. The new technology is expected to trigger revolutionary changes in the financial services sector. The comparative profile of potential possibilities of and limitations on the application of blockchain in the financial sphere frames the nature of expected changes. Nevertheless, there are still a number of unresolved issues of technological, legal and ethical nature ahead of the mass application of blockchain technology. The formulated conclusions and recommendations provide guidance for successfully overcoming objective barriers to the application of blockchain and summarizing the prerequisites for a possible evolutionary leap in the development of the
financial services industry.