IDEAS home Printed from https://ideas.repec.org/h/spr/advbcp/978-94-6463-298-9_50.html

Blockchain Technology: Applications, Opportunities, Challenges, and Countermeasures

In: Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023)

Author

Listed:
  • Keyi Zhu

    (State University of New Jersey Rutgers)

Abstract

Blockchain technology evolved beyond cryptocurrency due to technological advancements. It’s a secure decentralized ledger system that uses cryptography and smart contracts to record tamper-proof transactions, offering an efficient way to manage data in various industries. Supply chain management, finance, logistics, healthcare, and energy are some of the sectors that can benefit from its transparency and security features. For instance, block-chain technology can be used in supply chain management to track products from their origin to their final destination, ensuring transparency and accountability along the entire supply chain. However, blockchain faces challenges such as security vulnerabilities, scalability, privacy concerns, energy consumption, and interoperability, which need to be addressed before realizing its full potential. Blockchain’s applications include product tracking, fraud prevention, transportation optimization, cost reduction, and efficiency improvement. The research paper highlights the historical development, benefits, and challenges of blockchain technology, emphasizing the importance of addressing those challenges to unlock its full potential.

Suggested Citation

  • Keyi Zhu, 2023. "Blockchain Technology: Applications, Opportunities, Challenges, and Countermeasures," Advances in Economics, Business and Management Research, in: Amalendu Bhunia & Rubi Binti Ahmad & Yifeng Zhu (ed.), Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023), pages 460-468, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-298-9_50
    DOI: 10.2991/978-94-6463-298-9_50
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a
    for a similarly titled item that would be available.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:advbcp:978-94-6463-298-9_50. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.