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Blockchain: The Perspective Future of Technology

Author

Listed:
  • Riya Sapra

    (Manav Rachna University, Faridabad, India)

  • Parneeta Dhaliwal

    (Manav Rachna University, Faridabad, India)

Abstract

Many applications are being built using the immutability and robustness of blockchain. Blockchain is a new class of information technology that combines cryptography and a distributed ledger that already exists. The model is composed of a group of computers that collaborate towards maintaining a secured database without storing the data at any central unit. It is the technology behind all the crypto currencies like Bitcoin, Litecoin, Ethereum, and now finding its way to record everything possible. This paper focuses on the basic framework of blockchain model, its pre-requisites, and challenges of blockchain. Various current real-time applications of the technology are also discussed. Finally, an application area has been proposed that can be used to create a huge database of the citizens of the country and facilitate them with ease of access to their personal data. It will open new ways of data analysis at a nationwide scale.

Suggested Citation

  • Riya Sapra & Parneeta Dhaliwal, 2021. "Blockchain: The Perspective Future of Technology," International Journal of Healthcare Information Systems and Informatics (IJHISI), IGI Global Scientific Publishing, vol. 16(2), pages 1-20, April.
    • Handle: RePEc:igg:jhisi0:v:16:y:2021:i:2:p:1-20
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    References listed on IDEAS

    as
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    2. repec:aen:journl:ej37-si1-introduction is not listed on IDEAS
    3. J. Leon Zhao & Shaokun Fan & Jiaqi Yan, 2016. "Overview of business innovations and research opportunities in blockchain and introduction to the special issue," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-7, December.
    4. Jesse Yli-Huumo & Deokyoon Ko & Sujin Choi & Sooyong Park & Kari Smolander, 2016. "Where Is Current Research on Blockchain Technology?—A Systematic Review," PLOS ONE, Public Library of Science, vol. 11(10), pages 1-27, October.
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    Cited by:

    1. Yong Chen & Yang Lu & Larisa Bulysheva & Mikhail Yu. Kataev, 2024. "Applications of Blockchain in Industry 4.0: a Review," Information Systems Frontiers, Springer, vol. 26(5), pages 1715-1729, October.

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