Many Thanks indeed guys !
I have created the blynk_reporting database as per create_schema script and now it works with no errors
I didn’t know anything about db.properties and it looks this is a new thing referring to my old version of local blynk server.
What I noticed is that server works even without it, but it looks that db.properties file open possibilities to configure manually database connection ports, ip addresses or java database connection drivers (I don’t know if I could use others apart Postgresql).
Another thing that I noticed is that in the new version (or maybe earlier than 0.38.1) the hardware plain port is merged with web socket port. I noticed that after upgrade where my arduino was searching default 8442, but new server doesn’t listen to that port even you have hardware.default.port=8442 in your server.properties file. That is merged with web socket port which should be specified with parameter http.port=xxxx (8080 default).
Maybe this is going to help other people in case they face the same problem as mine.
Thanks again for your great support !
Keep going Blynk !!!