A Systematic Review of Blockchain Technology and Its Applications

Abstract

Blockchain technology could radically transform our business environment in the decades to come. It has the power to redefine our views of business processes and may even impact our overall economy. The works comprehensively document the implementation of blockchain applications in various sectors. Our goal is to determine what state blockchain technology is in and what kinds of applications it has. A large majority of the current blockchain-related research is dedicated to crypto currencies, such as Bitcoin. Only a small percentage of work is dedicated to exploring the wide range of potential blockchain technology applications. Blockchain technology has multiple applications across multiple industries. This study attempts to determine the opportunities and threats presented by Blockchain Technology for current or future applications. The number of published studies that were studied carefully and critically and added to the Block chain’s body of knowledge was large.