Blockchain Technology and Its Applications: Case Studies

Abstract

Blockchain technology is expected to bring about exciting developments across a variety of fields, such as politics, economy, culture, industry, and business model. Blockchain is no doubt one key infrastructure technology to lead the Fourth Industrial Revolution. This paper is a general overview of the main features of blockchain technology. Three types of blockchains (public, private, and consortium) will be presented within a discussion of their major case studies. In addition, the latest trends and developments in blockchain technology will be briefly reviewed. The terminology of blockchain infrastructure technology has the potential to foster technological innovation across various industrial sectors as well as improve mutual harmony and understanding of complex structures and diverse phenomena in human society, especially antagonism, confrontation, and ideological conflict. With such progress in social innovation, blockchain technology will result in a fairer and more transparent human society. Greater attention will also be given to a blockchain-based mobile voting system that will enable the realization of direct democracy in a representative democracy. Furthermore, this paper offers solutions to a trilemma of problems (scalability, security, decentralization) in blockchain.