BLOCKCHAIN TECHNOLOGY: REVOLUTIONIZING FINANCE, SUPPLY CHAINS, AND GOVERNANCE

Dr. Farhan Akram; Dr. Aisha Khan

Dr. Farhan Akram Virtual University of Pakistan
Dr. Aisha Khan School of Computing and Digital Technology, Birmingham City University, UK

Keywords: Blockchain, Distributed Ledger Technology, Finance, Supply Chains, Governance, Cryptocurrency, Transparency, Security, Efficiency

Abstract

Blockchain technology, the distributed ledger technology underpinning cryptocurrencies like Bitcoin, has emerged as a transformative force with the potential to disrupt various industries. This article delves into the core principles of blockchain, its unique features, and its applications across three key domains: finance, supply chains, and governance. We explore how blockchain can revolutionize financial transactions, enhance supply chain transparency and efficiency, and facilitate secure and transparent governance processes. The article also examines the challenges and limitations of blockchain adoption, highlighting the need for robust regulatory frameworks and technological advancements to unlock its full potential. Finally, we conclude by outlining the future prospects of blockchain technology and its potential to reshape the way we interact, transact, and govern.