Blockchain: Its Applications And Challenges

Abstract

Blockchain was initially designed as a means of enabling the trust-less cryptocurrency Bitcoin, but as more industries and stakeholders view the technology as a viable alternative to existing business solutions and a potential disruptor of mature industries, it has since moved beyond its original intent. A blockchain can be used in a wide variety of ways in real time. The functioning of almost all sectors of the economy depends on handling an infinite number of tasks. As a result, in recent years, blockchain has become a popular technique in not just cryptocurrency, but also healthcare, energy, insurance, supply chain management, cybersecurity, and copyrights. Here, we examine the numerous applications of blockchain and how it can improve management in the sectors the technology is being applied to.