INTRODUCING BLOCKCHAIN TECHNOLOGIES IN THE UZBEK FINANCIAL MARKET: REDUCING TRANSACTION COSTS AND INCREASING SECURITY

Abstract

Abstract. This article examines the economic and institutional prospects of introducing blockchain technologies into the financial market of Uzbekistan, with particular attention to two strategic effects: the reduction of transaction costs and the strengthening of security. The study proceeds from the premise that blockchain should not be interpreted narrowly as a synonym for speculative crypto-asset circulation. In the context of the Uzbek financial market, its practical value is broader and lies in the modernization of payment infrastructure, post-trade settlement, digital identity verification, audit trails, tokenized financial instruments, custody services, and automated compliance procedures.