Blockchain Technology: Challenges and Opportunities
Minoo Modaresnezhad University of North Carolina Wilmington
Jeffrey Cummings University of North Carolina Wilmington
Abstract Smart devices have been implanted within every aspect of our daily activities. With the technology-connected society comes the threat of cyber-criminal activities and the importance of innovative technologies to restrain these threats. Blockchain technologies, used in securing Bitcoin currancy, is one of the most popular approaches that brings us more reliable and convenient services. For instance, the underlying technologies can be used to offer smart secure contracts, present identity management systems, prevent denial of service attacks, and limit data manupiulation and fraud. On the other side, some drawbacks of using this technology include the power required to process the related mathematical computation, integrated cost problem, regulations and policy issues, time required to confirm Blockchain data, etc. In this paper, we will review opportunities and challenges associated with using Blockchain technologies which can in turn shed light on creating innovative systems to provide a more secure digital future.
Recommended Citation: Modaresnezhad, M., Cummings, J., (2017). Blockchain Technology: Challenges and Opportunities. Proceedings of the Conference on Information Systems Applied Research, v.10 n.4579, Austin, Texas