Application of blockchain technologies as a function of progress

Proceedings of International Scientific Conference „ALFATECH – Smart Cities and modern technologies“ (pp. 130-136) 

 

AUTOR(I) / AUTHOR(S): Nebojša DENIĆ , Jelena STOJANOVIĆ , Kostadinka STOJANOVIĆ , Ivana Bulut BOGDANOVIĆ , Saša MIHALJOVIĆ

 

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DOI:  10.46793/ALFATECHproc25.130D

SAŽETAK / ABSTRACT:

In this paper, based on a studious, comprehensive review of the latest literature, the possibilities of applying blockchain technologies from the perspective of entrepreneurship, tourism, production, supply chain, media companies, and environmental protection and sustainable development are explored. In this context, the impact of blockchain technology on business, the evolved advantages and disadvantages of application, safety and security issues, future application trends and presented examples of good practice will be explored. It will be shown how the technology works, what changes it brings to the existing data storage infrastructure, and at the same time shed light on the possibilities of using the technology in other areas. In the theoretical consideration, the most promising sectors for the use of blockchain technology will be identified from the aspect of optimizing existing business processes. The latest research indicates that the widespread application of blockchain technologies will cause many changes in electronic business. Blockchain allows banks to simplify and automate many processes, further reducing operating costs. The results of research in practice indicate that the key disadvantage of Blockchain technology is that it is not ‘green’ enough, because the operation of the computers that generate the codes that make up the Blockchain requires a large amount of electricity. Research also indicates that currently the possibilities of using blockchain technology are unlimited, which will certainly initiate a technological revolution in many areas of business, because its time is yet to come.

KLJUČNE REČI / KEYWORDS:

Digitization, Electronic business, blockchain technology

PROJEKAT / ACKNOWLEDGEMENT:

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