Challenges of Blockchain Applications
Elif Çalık · 2024
The global pandemic process has accelerated the adoption and spread of several ground-breaking technology innovations that one of the all is blockchain technology. The attraction for Blockchain is increasing from various application domains looking to take advantage of its immutability, security, cost-saving, transparency, and fast processing properties. Furthermore, blockchain has a wide range of applications and uses in different sectors such as banking, insurance, trade finance, healthcare, the internet of things, the energy industry, identity management, and Supply chain management. As the range of applications expands, it becomes easier to see the common points of the challenges encountered. This study generally aims to focus on the challenges of blockchain applications. More specifically, blockchain-related applications and their challenges such as regulation and legislation, fairness and trustworthiness, interoperability, scalability, and energy consumption are going to be discussed.