Impact of Blockchain Technology Platform in Changing the Financial Sector and Other Industries
The aim of the paper is to conduct a research on an impact of blockchain technology platform on the financial sector through cryptocurrency, and an impact on other industries.. The subject of research is not only this technology but also its commercial exploitation. In order to understand the pl...
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| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
NGO “Economic Laboratory for Transition Research” (ELIT)
2018-03-01
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| Series: | Montenegrin Journal of Economics |
| Subjects: | |
| Online Access: | http://mnje.com/sites/mnje.com/files/109-120-_knezevic_0.pdf |
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| Summary: | The aim of the paper is to conduct a research on an impact of
blockchain technology platform on the financial sector through
cryptocurrency, and an impact on other industries.. The subject of
research is not only this technology but also its commercial exploitation.
In order to understand the platform, the starting point of this
research is an analysis of how the technology functions, after that
the advantages for business and economic transaction are identified,
and finally the paper deals with an impact of new technology
on business, above all on financial operations. The basic hypothesis
is that blockchain has achieved a great impact on financial sector,
also it has the potential to radically change only the financial sector
but also the way we buy and sell, our interaction with the authorities
as a way of verifying the ownership from the authorship and the
organic food production. Using the available data and synthesis of
knowledge from the fields of technology, economics, finance, and
politics, 4 scenarios were set up for the future of underlying technology.
The scenario approach combined with trend analysis in
order to prove the starting hypothesis with high reliability. The research
results show that the technology being investigated already
has a profound impact on the financial sector, that it is in the initial
phase of changing many industries, with the likelihood that they will
change them significantly in the next five to ten years. Businesses
increasingly discover the power of this technology to exploit the
benefits of the Fourth Technological Revolution. |
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| ISSN: | 1800-5845 1800-6698 |