Blockchain technologies have seen growing adoption in the last decade. At first, blockchain technology appeared as part of a novelty and alternative electronic payment systems, and with time, it has moved to become an essential part of a growing ecosystem of different blockchain-based solutions and applications. Blockchain technology has the capacity to disrupt the business model of organizations and businesses as we know it.
The applicability of this disruptive technology, its potential role in global sustainable development, and the achievement of the SDGs make it a part of frontier technologies that needs to be understood and exploited in favor of sustainability. However, if individuals, companies, or countries intend to adopt, exploit or implement blockchain technology for their benefit, it is necessary to understand not only the benefits and opportunities but also the risks and challenges created by this technology.
Therefore, this section provides an explanation of blockchain technology by analyzing the current trend in academic research, use cases of the technology, and national strategies of countries adopting blockchain technology. Organizations and governments that plan or consider implementing policies or initiatives relative to blockchain technology can use this guide as a starting point for their future agenda.