Blockchain-Driven Knowledge Ecosystems

Abstract

Blockchain technology is a distributed, decentralized ledger system that securely and openly records transactions across numerous computers, or “nodes.” The importance of blockchain goes beyond virtual currency. Voting systems, healthcare, supply chain management, banking, identity verification, and other industries are all revolutionized by it. Blockchain guarantees data provenance, trust, and decentralized knowledge repositories in the context of knowledge management. Blockchain has a considerably wider impact than just digital currency; it is influencing a future in which cooperation, security, and trust are valued in a variety of industries. Blockchain ensures transparency, trust, and cooperation, which strengthens knowledge management. By adopting this technology, we open the door to a decentralized future in which information is securely and freely exchanged. This study explores the decentralized concept of blockchain technology, discuss the various aspects of it, the impact of blockchain in contemporary applications and provide hints towards formation of Knowledge Ecosystems.