Block Chain Technology the New Internet

Author(s)

Dr. Zaffar Ahmed Shaikh , Intzar Ali Lashari ,

Download Full PDF Pages: 167-177 | Views: 326 | Downloads: 97 | DOI: 10.5281/zenodo.3470646

Volume 6 - April 2017 (04)

Abstract

The blockchain is generally defined as publicly disclosed and linked ledger of online transactions that are performed in peer to peer network. Also, all the transactions executed in this public ledger are verified by the majority of the participants. Blockchain has brought a different approach to the data sharing and management. It has come up with the solutions to a number of problems that the digital world has been facing since long. Blockchain technology is highly efficient to transform a number of industries such as financial and non-financial ones. This paper explores the blockchain technology as a thing like an internet i.e. the future of Internet and explains it’s numerous scopes in different sectors for both the personal and professional purposes. But firstly, we will come across the basics of this technology, how did it come into existence and what’s its current status. We will also study what can be the positive and negative impacts of using blockchain technology. And at last, we will explain the challenges along with the opportunities this latest technology brings in the digital world.

Keywords

Blockchain Technology

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