A Review on Industrial Blockchain

Document Type

Conference Proceeding

Publication Title

2022 4th International Conference on Blockchain Computing and Applications, BCCA 2022

Abstract

Blockchain technology has lately surged to the peak of scientific and industrial priorities due to its possible benefits over a broad array of industries. This is owing to their demonstrated abilities to address many of the difficulties that are now inhibiting advancements in a variety of industries. Securely gathering and transmitting transaction information, allowing effective and systematic logistics operations, as well as boosting clarity in the entire system are just a few of those concerns. The significant economic and operational benefits of blockchain can benefit a wide range of applications in numerous industries. People, enterprises, organizations, and properties can all benefit from digital identification, which can lead to a flood of new business prospects. Applications in finance, energy, transportation, healthcare, and industrial supply chain are growing rapidly and proving to be tremendously advantageous. In order to build more functional and productive industrial applications, several outstanding concerns must be studied and analyzed further. This article analyses and investigates the possibilities, advantages, as well as drawbacks of using blockchain in a variety of commercial operations. In addition, the research aims to define the prerequisites for implementing blockchain for various industrial applications. The study uncovers several opportunities for blockchain adoption in several industries; yet, there are still some hurdles to overcome to enhance the benefits of this technology and ensure better utilization.

First Page

219

Last Page

230

DOI

10.1109/BCCA55292.2022.9922219

Publication Date

10-31-2022

Keywords

Blockchain, Decentralization, Industrial IoT, Secure Transactional Ledgers, Smart Contracts

Comments

IR conditions: non-described

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