Cryptocurrencies and Blockchain Applications

Cryptocurrencies and Blockchain Applications

Xiao Wen Lu, Youssef Tliche, Mohammadali Vosooghidizaji, Atour Taghipour
Copyright: © 2023 |Pages: 13
DOI: 10.4018/978-1-6684-6247-8.ch001
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Abstract

New technology and revolution in digital tools can be considered as the enablers to promote the performance of the global supply chain by integrating the actors. Among these technologies is the blockchain, first and foremost a technology for storing and transmitting information. This technology offers high standards of transparency and security in a decentralized environment. More concretely, the blockchain allows its users—connected in a network—to share data without an intermediary. The cryptocurrencies are new electronic currencies that use blockchain technology to transfer the ownership of cryptos between their different owners. The application of blockchains in cryptocurrency reduces the risk of sharing information and simplifies transaction processing thanks to the secured decentralized environment. The objective of this chapter is to provide a literature review that synthesizes the knowledge of using the blockchains in cryptocurrency. The results of the review can be used by academics and practitioners.
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Literature Review

In the two main sectors, sector of service and sector of goods, there are many applications foe blockchains (Andreev et al., 2018). However, such as any other new technology the blockchains have many barriers in terms of acceptance by companies and governments. According to PwC in 2018, companies need to deal with many challenges such as imposed regulations. However, thanks to the cooperation of the actors in the ecosystem and legal and political entities, these new challenges can be gradually overcome. Nevertheless, for various reasons, companies continue to encounter technological obstacles. As an example, it is difficult for companies to recruit specialized employees able to use new technologies. Another difficulty is related to the integration of blockchain other information systems, other technological infrastructures and business processes. In addition, finding the experts in the field is another challenge for companies (Risius and Spohrer, 2017).

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