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Abstract
The paper indicates the possibilities of leveraging blockchain for the provision of direct,
almost immediate and, first of all, secure value transfer between network users unrelated in any way
except common software. Smart contracts, build on the concept of blockchain, are shown as innovative
solutions setting up a new way of entering into contractual relations and transaction finalization. This
provides the ground for the analysis of the technology’s role in the economy. Feasible modifications
combined with ongoing spread prove blockchain’s suitability for various items that hold value. Owing
to dynamic multi-directional development of the technology, its potential applications are not limited
to assets existing only as digital records. The technology is now revolutionizing the way of interacting
between financial institutions. Its future impact on other markets’ business models may turn out to be
equally significant. Nevertheless, the technology is considered as still immature, thus the economy with
blockchain as prevailing solution building – or at least replacing – trust between transacting parties is
quite a distant vision.