Transactional effects of blockchain technologies development

The article discusses the existing institutional approaches to the analysis of block- chain technologies. Blockchain is considered as an institutional technology that generates multidirectional transactional effects with different quality and transactional value for users. Possible transactional effects of blockchain technology can manifest in the ability to multiplicatively change transaction costs (to reduce for some entities, and, on the contrary, to increase for others) and generate additional institutional results for transaction participants, and specifically in interaction with other institutional technologies (digital platforms). The development of digital technologies, and, in particular, digital platforms, creates new types of transaction costs - the costs of resisting digitalization and the costs of digital resistance. The transactional effects of blockchain platforms may partially diffuse the problem of resistance to digitalization, i. e. reduce transaction costs of the first type, but at the same time they may exacerbate the problem of digital resistance due to the conflicting convergence of non-formal norms and formal algorithms of blockchain platforms. The loyalty to this institutional technology depends on the institutional result of particular user.