APPLICATION OF BLOCKCHAIN TECHNOLOGY
APPLICATION OF BLOCKCHAIN TECHNOLOGY

Summary/Abstract: There are several reasons why blockchain has great potential and importance in today’s world of technology and information distribution. Although this is a relatively new technology, blockchain’s currently experiencing great interest to the public and society, not so much that is ubiquitous today, but because of the wide range of possible uses. This work introduces the theoretical framework of this technology and the reasons for its creation, possibilities of blockchain application and the way it could change forever the current shapes of financial, economic, and most of all, the world of business. The aim of this work is to highlight the importance of the development of this technology and to encourage further interest-minded who believe that the current forms of business have room for improvement and progress. Thinking in this direction, it is necessary to identify different areas of application that currently use blockchain, such as cryptocurrency, smart contracts, digital signatures, decentralized data management and many others. It also seeks to explain how the use of this technology can improve efficiency and create faith in, not only financially and economically, but also in many other systems, because blockchain technology has great potential to become a new form of business. The only question is, in which industrial sector most likely success blockchain and depending on the branch, how much is actually, business economic world ready for large-scale migration and changes.

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