Blokchain and crypto-currencies in the intercountry capital flow: application, potential and threats

The publication examines the phenomenon of blockchain technology and the prospects for its application in the intercountry capital flow. It is noted that in the future, block chain tech- nology can replace such institutions as clearing houses and systems, as well as systems for the international exchange of financial information. Particular attention to the problems of introducing crypto-currencies in international settlements is paid. It is concluded that in the short term there are no real prospects for legalizing crypto-currencies as payment instruments due to numerous negative externalities, including the transmission of inflation, the growth of shadow money turnover and financing of international crime, high risks global financial wars. Attention is drawn that there is a wide range of alternative areas for use of block chain in the intercountry capital flow, additionally an initiative to create an interbank payment system based on block chain in the framework of the Eurasian Economic Union is being put forward.