The Blockchain Ecosystem

Hammer, Sarah

doi:10.2139/ssrn.3281020

Cited by 1 publication

(2 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Although the technology has both centralized and decentralized applications, the main and most popular idea behind today's blockchain systems is removing central authority in monetary transactions to reduce the costs, speed, and the efficiency by forming a peer-to-peer network. The transactions in the modernday blockchains are not limited to digital currencies: many kinds of assets, from cash and gold to intellectual property rights and copyrights, can now be efficiently recorded and utilized in the blockchain, with each transaction, no matter the form of assets, being verified and confirmed to be recorded in the blockchain ledger (Hammer, 2018).…”

Section: Understanding Blockchain Technology and Its Applicationsmentioning

confidence: 99%

“…Technically, the overall structure of blockchain is arranged in blocks that are connected in a chain, so as data is added, the blockchain links increase. "Each block contains a hash, or digital fingerprint or unique identifier, a timestamped batch of recent valid transactions, and the hash of the previous block in the chain" (Hammer, 2018). This constant connection between blocks and the storage of past transactions makes the information stored nearly impossible to alter, as one has to change every block before the block, he/she wants to change (Figure 1).…”

Section: Understanding Blockchain Technology and Its Applicationsmentioning

confidence: 99%

See 1 more Smart Citation

How Can Blockchain Contribute to Developing Country Economies? A Literature Review on Application Areas

Gillpatrick

Boğa

Aldanmaz³

2022

Economics

View full text Add to dashboard Cite

Blockchain technology originally finding applications in Fintech and supply chain management is rapidly expanding applications to other industries as well as the public sector. “Blockchain has been compared to the invention of the internet and its comprehensive impact on almost every industry.” R. Beck and B. Markey-Towler (2017) A recent study by PWC (2020) found that, “Blockchain technology has the potential to boost global gross domestic product by $1.76 trillion USD over this decade.” It has been argued that the digital revolution has favored more developed nations and that has helped create a “digital divide” with less developed nations. Business and governmental infrastructure in developing nations have lagged that of more developed nations. Some of these challenges faced by developing nations include the registration of property ownership, financial systems, modern efficient supply chains often accompanied by a lack of trust and the ability to verify and audit organizational processes rapidly and economically. Blockchain technology has the promise to address many of the critical needs of developing countries internally and in external trade relationships to help enable them to be more competitive. This paper will review the literature and examine the impact of Blockchain technology on how its adoption may ameliorate many of these critical challenges for developing nations helping to improve governance and economic benefits that are shared more equitably. Potential for both positive and negative impacts with be discussed along with policy implications for public policy makers and private enterprises.

show abstract

Section: Understanding Blockchain Technology and Its Applicationsmentioning

confidence: 99%

Section: Understanding Blockchain Technology and Its Applicationsmentioning

confidence: 99%