IMPORTANCE OF BUSINESS SOLUTIONS BASED ON BLOCKCHAIN TECHNOLOGY
The aim of this study is to determine the essence of blockchain technology and its capabilities to be utilized in business operations. The paper discusses the importance of blockchain technology and practical possibilities of its application. Based on industry reports, statistics on investments of e...
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| Format: | Article |
| Language: | English |
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Wydawnictwo SGGW - Warsaw University of Life Sciences Press
2020-12-01
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| Series: | Polityki Europejskie, Finanse i Marketing |
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| Online Access: | https://pefim.sggw.pl/article/view/4973 |
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| author | Marta Wiśniewska |
| author_facet | Marta Wiśniewska |
| author_sort | Marta Wiśniewska |
| collection | DOAJ |
| description | The aim of this study is to determine the essence of blockchain technology and its capabilities to be utilized in business operations. The paper discusses the importance of blockchain technology and practical possibilities of its application. Based on industry reports, statistics on investments of enterprises in blockchain technology and attitudes of their senior executives towards this technology, as well as the validity of its implementation, have been presented. In addition, the most important advantages of blockchain technology in relation to existing information technology (IT) systems have been specified. The article describes organizational barriers hindering investments in blockchain technology and its actual applications in companies. Performed analyses show that companies around the world are actively investing in blockchain technology. This technology has been found to be positively recognized in business by executives, however companies, while planning its implementation, face numerous barriers which mainly arise from a lack of legal regulations, and technical problems. On the other hand, blockchain technology can be used in many areas of company activities, especially in the supply chain. |
| format | Article |
| id | doaj-art-bac03be693be43d295ed1f65c1d0cf08 |
| institution | Kabale University |
| issn | 2081-3430 2544-0640 |
| language | English |
| publishDate | 2020-12-01 |
| publisher | Wydawnictwo SGGW - Warsaw University of Life Sciences Press |
| record_format | Article |
| series | Polityki Europejskie, Finanse i Marketing |
| spelling | doaj-art-bac03be693be43d295ed1f65c1d0cf082025-02-02T01:04:54ZengWydawnictwo SGGW - Warsaw University of Life Sciences PressPolityki Europejskie, Finanse i Marketing2081-34302544-06402020-12-0124(73)10.22630/PEFIM.2020.24.73.434973IMPORTANCE OF BUSINESS SOLUTIONS BASED ON BLOCKCHAIN TECHNOLOGYMarta Wiśniewska0Jan Kochanowski University in Kielce, Branch in Piotrków TrybunalskiThe aim of this study is to determine the essence of blockchain technology and its capabilities to be utilized in business operations. The paper discusses the importance of blockchain technology and practical possibilities of its application. Based on industry reports, statistics on investments of enterprises in blockchain technology and attitudes of their senior executives towards this technology, as well as the validity of its implementation, have been presented. In addition, the most important advantages of blockchain technology in relation to existing information technology (IT) systems have been specified. The article describes organizational barriers hindering investments in blockchain technology and its actual applications in companies. Performed analyses show that companies around the world are actively investing in blockchain technology. This technology has been found to be positively recognized in business by executives, however companies, while planning its implementation, face numerous barriers which mainly arise from a lack of legal regulations, and technical problems. On the other hand, blockchain technology can be used in many areas of company activities, especially in the supply chain.https://pefim.sggw.pl/article/view/4973blockchaindistributed ledger technologyinvestments |
| spellingShingle | Marta Wiśniewska IMPORTANCE OF BUSINESS SOLUTIONS BASED ON BLOCKCHAIN TECHNOLOGY Polityki Europejskie, Finanse i Marketing blockchain distributed ledger technology investments |
| title | IMPORTANCE OF BUSINESS SOLUTIONS BASED ON BLOCKCHAIN TECHNOLOGY |
| title_full | IMPORTANCE OF BUSINESS SOLUTIONS BASED ON BLOCKCHAIN TECHNOLOGY |
| title_fullStr | IMPORTANCE OF BUSINESS SOLUTIONS BASED ON BLOCKCHAIN TECHNOLOGY |
| title_full_unstemmed | IMPORTANCE OF BUSINESS SOLUTIONS BASED ON BLOCKCHAIN TECHNOLOGY |
| title_short | IMPORTANCE OF BUSINESS SOLUTIONS BASED ON BLOCKCHAIN TECHNOLOGY |
| title_sort | importance of business solutions based on blockchain technology |
| topic | blockchain distributed ledger technology investments |
| url | https://pefim.sggw.pl/article/view/4973 |
| work_keys_str_mv | AT martawisniewska importanceofbusinesssolutionsbasedonblockchaintechnology |