Blockchain - advantages and risks for businesses

Abstract

Blockchain or Distributed Ledger Technology (DLT) has been seen a new revolutionary technology that can allow significant cost savings and increase efficiency; transform business models from human-based trust model to algorithm-based trust model, although blockchain has some potential risks, it has lots of noticeable advantages. The article discusses the advantages and risks of blockchain. Accordingly, the paper proposes blockchain risk management solutions when it it applied in entities.