Analysis of Blockchain Adoption Across Industries: Evidence From Enterprise, Government and Financial Institutions

Abstract

Blockchain is a transformative technology which has emerged across various sectors in a short span of time. It works on the concept of distributed ledger system and its most important factor is that it is decentralized. It is a revolutionary technology which can transform the industry’s way of working. Blockchain is a framework for storing data in a way that’s almost impossible for it to be changed, falsified, or duplicated. It was originally conceptualized for the transactions concerning crypto currency but since its evolution, people have seeked to apply it in various other sectors including finance, healthcare, supply chain management, political systems (voting), etc. This article explores the versatile use of this technology in the above-mentioned sectors. Additionally, the article examines practical application and real-world case studies to better understand this technology. Through this paper the author aims to provide a bridge between the theory and practice of usage of this technology. Also, the author aims to fill this gap by leveraging the case studies to understand the nature of Blockchain technology. By analysing these examples, the major aim is to uncover best practices and lessons that can be learnt and which can act as a guide for the future adoption and implementation. This paper further will provide another perspective to the users regarding the Blockchain technology apart from its traditional use in crypto currency and further inspire paper and innovation in this area to revolutionize traditional systems.