- Blockchain Technology, Decentralization, Smart Contracts, Business Applications, Supply Chain Management, Financial Services, Regulatory Challenges
Abstract
Blockchain technology, initially developed to support cryptocurrencies like Bitcoin, has quickly gained traction across various sectors due to its potential to offer enhanced transparency, security, and efficiency. This paper provides a comprehensive review of the applications of blockchain in business, examining its impact across industries such as finance, supply chain management, healthcare, and real estate. It explores the core features of blockchain technology, including decentralization, immutability, and smart contracts, and discusses how these attributes are transforming traditional business practices. Additionally, the paper investigates the challenges associated with blockchain implementation, including scalability, regulatory concerns, and the need for industry-specific solutions. Finally, the paper looks forward to the future of blockchain in business, highlighting emerging trends and the opportunities it presents for businesses seeking to enhance operational efficiency, reduce costs, and improve trust in digital transactions.