Abstract

World economies and industries are witnessing a rapid yet discreet change in the perception of data, information, and finance, paradigms that have been static for centuries. This shift is fueled by the expansive network of the internet, which is still far from being fully utilized. Emerging from this digital expanse, blockchain technology today influences how finance, services, and data collection are conducted. In a dynamically evolving economy, this innovative development prompts organizations and individuals with high stakes to accelerate their digital transformation. This research paper aims to educate readers about the potential impact of blockchain technology and digital assets across various industries. It explores applications including currency tokens, non-fungible tokens (NFTs), decentralized applications (dApps), decentralized autonomous organizations (DAOs), and smart contracts. The paper will illustrate the how, why, and when of utilizing these tools and assets for industry benefits through secondary research, investigating blockchain integration in sectors ranging from finance to healthcare, and reflecting on key applications of distributed ledger technology (DLT).

Publication Date

4-20-2024

Document Type

Master's Project

Student Type

Graduate

Degree Name

Engineering Management (ME)

Department, Program, or Center

Graduate Programs & Research

Advisor

Amol Gore

Campus

RIT Dubai

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