Applications & Impact of Blockchain Technology in the Business Environment

Abstract

The study shed the light on the application of block chain technology and its implication in sustainable business. Blockchain technology shares the data that includes transparency with efficiency and reduction of cost. Finance sector use the advanced technology of blockchain to store the data of customers in chronological order and make it easy to access all the important information in just one click. The business model is set up to operate food sector and other economic sectors. Companies that use the application of blockchain technology can be able to expedite the funding process in various ways. This study helps to understand the importance of blockchain technology in developing business operations to increase the revenue, profit and productivity of an organisation.