THE ROLE OF CYBERSECURITY IN THE IMPLEMENTATION OF CIRCULAR ECONOMIC MODELS: RISK AND OPPORTUNITY ANALYSIS

Abstract

The methodological basis of this scientific work consists of conclusions regarding the analysis and theoretical generalization of scientific approaches to the coordination of economic development in the conditions of a digital circular economy, which are given in works of a theoretical and practical nature. To carry out this scientific work and achieve the set goal, the article uses methods of graphic interpretation of the results of analysis and generalization, methods of theoretical analysis, synthesis. The article established that recently the world economy functioned in a linear format. The authors concluded that this type of economic development creates certain risks for the normal existence of the whole world, which consumes more resources than it can restore. The circular economy is proven to change this. It was determined that for the implementation of such worldview solutions in a global dimension, it is important to create an appropriate digital basis. It has been established that the implementation of digital technologies belongs to the means used to ensure the transition to a closed-loop economy. It was concluded that new technologies and business models, as well as the high pace of their implementation, carry new risks (loss of data, low-quality software, technical lag, insufficient level of competence, violation of confidentiality and privacy, dependence on IT, loss of jobs, technical failures), but cybersecurity makes rapid digital change safer. It is noted that in order to minimize these risks, it is important to implement effective cyber security measures, regularly update systems and software, provide staff training and adhere to ethical standards of technology use. After all, the lack of confidence of users in the security of online services and the protection of privacy threatens the possibility of using the full potential of information and communication technologies to stimulate innovation, circular economic growth and progress in the direction of such transformational changes.It has been established that with the development of digitization and computerization both in production processes and in everyday life, the scale of cyber threats will grow in proportion to the increase in the set of circular products and services that use information technologies and the number of their consumers. Taking this into account, ensuring cyber security is an urgent task for the public and private sectors, and the development of adequate countermeasures against such challenges and threats is becoming an important vector of public policy. It has been proven that the problem of cyber security is becoming extremely acute and important, from this it follows that the further development of the circular economy under the conditions of digitalization and the obtaining of its benefits by humanity is inextricably linked with the simultaneous development of the relevant cyber security systems.