THE POTENTIAL OF USING BLOCKCHAIN TECHNOLOGY IN HUMAN LIFE: EXAMPLES OF IMPLEMENTATION
THE POTENTIAL OF USING BLOCKCHAIN TECHNOLOGY IN HUMAN LIFE: EXAMPLES OF IMPLEMENTATION
Author(s): Wojciech MincewiczSubject(s): Economic policy, Economic development, EU-Accession / EU-DEvelopment, Financial Markets, ICT Information and Communications Technologies, Socio-Economic Research
Published by: Facultatea de Studii Europene -Universitatea Babeş-Bolyai
Keywords: Blockchain technology; cryptocurrencies; security; implementation; European Union;
Summary/Abstract: Blockchain technology, successfully implemented for the first time in 2009, with the launch of the first bitcoin cryptocurrency, is increasingly used in other areas of human life. As a cryptographically secured, distributed register is a guarantee of the stored data. The main assumption of blockchain is to eliminate, through built-in validation mechanisms, any central or trusted parties necessary to confirm the correctness of the data. The first part of the article presents general information about the technology. Next, the analysis of the potentials of its implementation in (I) financial and economic, (II) security, (III) political and social, (IV) legal and information was undertaken. The work is based on a case study of successful applications, as well as a comparative analysis, ended with a discussion and conclusions
Journal: Online Journal Modelling the New Europe
- Issue Year: 2022
- Issue No: 40
- Page Range: 78-97
- Page Count: 20
- Language: English