Browsing by Author "Aytbenbetova T."

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    Organizational and economic aspects of introduction of new technology in the financial sector of Kazakhstan Republic
    (2018) Aytbenbetova T.
    Today the banking sector is competitive, stable with a convenient and attractive product line that meets the needs of customers, both individuals and corporate clients. Particular attention is paid to the innovative trends by modern leading banks from around the world to optimize existing processes, improve existing products and services, risk management systems, maintain a strong position in post-crisis situation, transforming traditional Bank into a digital one. Because of these factors, competition is conducted between commercial banks to preserve each client and, of course, attract a new one. Financial markets witness a rapid change in 2017. As technology advances, it affects business models in financial sector and how people attain financial services. One term is on everybody’s lips: Blockchain, which stands for the dynamic industry in the intersection of finance and technology [1, P.3]. It is also described as a new type of financial service industry (Albert Isola, 2016), which has the main functional principles as transparency of transactions with the inability to change them by persons who do not have authorized access to it, cost reduction and high security against hacker attacks and especially it optimizes the process of cross border payments. It is possible that the blockchain technology will become the top economic layer of the organically connected world of various computing devices, including portable computing devices, "Internet of things", smart phones, tablets, laptops, smart houses, smart cars and a smart city [2, p.14]. The purpose of this thesis is to consider the use of block technology on the example of developed countries to enhance and ensure the competitiveness and economic potential of the financial sector of Kazakhstan in the world community, as well as the quality of life of the population through progressive development by digitizing the financial ecosystem, having obtained valuable data from the results of the study.