Thanks to visit codestin.com
Credit goes to www.scribd.com

Scribd
Upload
15 views1 page

Blockchain Technology

Blockchain technology extends beyond cryptocurrencies, offering applications in supply chain management, healthcare, and finance due to its decentralized and secure nature. However, challenges such as scalability, energy consumption, and regulatory uncertainty hinder widespread adoption. Addressing these issues is essential for unlocking the full potential of blockchain across various sectors.

Uploaded by

yesobej925
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
15 views1 page

Blockchain Technology

Blockchain technology extends beyond cryptocurrencies, offering applications in supply chain management, healthcare, and finance due to its decentralized and secure nature. However, challenges such as scalability, energy consumption, and regulatory uncertainty hinder widespread adoption. Addressing these issues is essential for unlocking the full potential of blockchain across various sectors.

Uploaded by

yesobej925
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

Blockchain Technology: Beyond Cryptocurrency

Abstract: Blockchain technology, initially designed for cryptocurrencies, has found applications in
various fields due to its decentralized and immutable nature. This paper explores blockchain's
potential in supply chain management, healthcare, and finance, alongside the challenges of
widespread adoption.

Introduction: Blockchain is a distributed ledger technology that ensures secure, transparent, and
tamper-proof record-keeping. Each block in the chain contains a list of transactions, secured using
cryptographic hashes.

Applications:

• Supply Chain Management: Blockchain provides traceability of goods, enhancing


transparency and reducing fraud.

• Healthcare: Securely stores patient records, ensuring privacy and data integrity while
allowing interoperability across systems.

• Finance: Facilitates faster and cheaper cross-border transactions, and enables


decentralized finance (DeFi) applications.

Challenges:

• Scalability: Current blockchain networks face limitations in transaction throughput.

• Energy Consumption: Proof-of-work consensus mechanisms require significant


computational power.

• Regulatory Uncertainty: Varying regulations across jurisdictions pose challenges to


adoption.

Conclusion: Blockchain technology holds promise beyond cryptocurrencies, offering solutions for
transparency and security in various sectors. Overcoming scalability and regulatory hurdles will be
crucial for its broader implementation.

You might also like