Distilling Blockchain

Abstract

The purpose of this chapter is to demystify blockchain technology and present potential use cases to ignite the potential blockchain brings. This chapter brings together thought leaders from both academia and industry to ensure a more holistic perspective on blockchain, both pros and cons. Primarily riding on the potential of the smart contract, this chapter expounds on the potential innovation that can be derived from blockchain. Simultaneously, this chapter expands on potential ideas that would bring value to mankind. It discusses how blockchain can be used to do social good and to rebuild trust between citizens, government, and more importantly, politicians. This could be achieved by rebuilding thrust through transparency and efficiency. While it is not without any drawback, suggested areas of future research were also proposed at the end of this chapter. This chapter also proposed a possible digital framework to be considered.