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

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Blockchain Technology: Applications, Opportunities, Challenges, and Countermeasures

Authors
Keyi Zhu1, *
1State University of New Jersey Rutgers, New Brunswick, 08901, USA
*Corresponding author. Email: Kz253@rutgers.edu
Corresponding Author
Keyi Zhu
Available Online 30 November 2023.
DOI
10.2991/978-94-6463-298-9_50How to use a DOI?
Keywords
Blockchain; cryptocurrency; bitcoin
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.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
30 November 2023
ISBN
10.2991/978-94-6463-298-9_50
ISSN
2352-5428
DOI
10.2991/978-94-6463-298-9_50How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Keyi Zhu
PY  - 2023
DA  - 2023/11/30
TI  - Blockchain Technology: Applications, Opportunities, Challenges, and Countermeasures
BT  - Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023)
PB  - Atlantis Press
SP  - 460
EP  - 468
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-298-9_50
DO  - 10.2991/978-94-6463-298-9_50
ID  - Zhu2023
ER  -