The Evolution and Diversification of Blockchain Technology

DOI

10.2991/assehr.k.211209.196How to use a DOI?

Keywords

Blockchain; data security; decentralized system; cryptocurrency; smart contract; government utilization

Abstract

The term around the blockchain technology is publicly confusing at present. At present, all terms related to blockchain technology make the public confused. However, the blockchain technology is the perfect example of using public shared information to enhance data security. It is essentially distributed database of records or public ledger of all transactions and digital footprints that have been executed and shared among all the parties. Each transaction in the public ledger is verified by a majority of the participants in the system, and once entered, the information can never be easily erased. This decentralized the peer-to-peer management system is being used in both financial and non-financial sector.

In this article, the author exams the application difficulties of the rapidly shifting technology, as well as to understand, govern and potentially apply this technology into real world businesses’ operation, and offer suggestions such as additional regulation layers added by the government to ensure the integrity, as well as for how to appropriately implement blockchain technology throughout the society. The author draws out the conclusion of combining regulators’ administration and the self-adjustment of the business industry to efficiently exploit the edges of blockchain technology.

Copyright

© 2021 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Lingfei Zhu
PY  - 2021
DA  - 2021/12/15
TI  - The Evolution and Diversification of Blockchain Technology
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 1220
EP  - 1224
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.196
DO  - 10.2991/assehr.k.211209.196
ID  - Zhu2021
ER  -