Regional Formation and Development Studies

This article aims to review economic advantages of the one of the most modern cutting edge technologies, namely blockchain for eProcurement. As eProcurement (including its part – Supply chain) is a concept consisting of plenty of different processes, therefore specific advantages per such major different processes are explained. Assumptions and pre-conditions of Blockchain application are explained. Article‘s main conclusion is that due to the main characteristics of Blockchain technology (safety, transparency, reliability, speed and cost efficiency) payment settlement and products‘ shipping tracking/inventory management are eProcurement‘s phases that could benefit from this technology the most, among others (such as analysis – requirements‘ gathering, sourcing/vendors‘ selection and contract management cycle).

The Circular Economy (CE), as a possible transformation of economies, became very popular and widely discussed from 2015 when the worldwide importance of ecological preservation became highly in demand. To be able to implement the circular economy concept in various economies, its importance and prepared alterations to government regulations have to be widely discussed, and at the same time businesses and consumers have to prepare to live and work in the new paradigm. Consumers have to note the additional value of circular products and services, and their positive impact on health and the environment. Businesses will only start changing when they realise that new business models are available and they can keep profitability at the same level, even though consumption in general might change. The main aim of this article is to perform a theoretical analysis of the impact of the circular economy on a state’s economy. The main tools used for the research in the article were analysis, comparison and the summary of scientific literature. The article overviews possible changes and their impact on state economics in the future.