Blockchain Technologies: Blockchain Use Cases for Consumer Electronics

Abstract

Bitcoin, the first cryptocurrency, has the ability to transmit and verify digital assets on the Internet without specific management entities. There are currently more than 1,500 cryptocurrencies with a market capitalization of more than US$480 billion. Bitcoin and other cryptocurrencies were built on blockchain technologies to prevent forgery and falsification while distributing transaction data among participants. Although blockchain has been used mostly for developing cryptocurrencies, it is a new functional technology for both financial and consumer electronics (CE) sectors.