Beyond Bitcoin: The Impact of Blockchain on The World - A Survey

Abstract

Blockchain has become one of the new buzzwords in technology in the last decade, mainly because of Bitcoin, a cryptocurrency that had an incredible rise in value in 2017. Despite its value falling since then, many have begun realizing that the peer-to-peer network behind it, Blockchain, can be used in a multitude of other technologies and industries. This paper focuses on summarizing Blockchain's applications beyond Bitcoin and cryptocurrencies, as well as discussing its features that allow it to effectively do so. Blockchain has shown the world that it is a trusted and decentralized way to compute, for transactions and to transfer data. Hence, a variety of fields are now utilizing this emerging technology, from financial services to music to healthcare, and this paper has successfully compiled and evaluated a list of a few of these applications.