Blockchain for Sustainable Future: Applications, Challenges, and Opportunities
Author(s)
Rajwinder Kaur
, Narender Kuar
Abstract
Blockchain technology has drawn a lot of interest because of its potential to transform a number of businesses and advance environmentally friendly behaviors. This paper investigates how blockchain technology affects sustainability, emphasizing its transparent and decentralized architecture. The discussion focuses on how blockchain promotes supply chain management by making products traceable and authenticable, which promotes fair trade and ethical sourcing. Furthermore, the unchangeable ledger structure of blockchain helps to improve accountability and confidence in transactions by decreasing fraud and corruption. The paper highlights blockchain's importance in promoting sustainable practices and a transparent global economy, and it discusses how blockchain can optimize energy management and promote renewable energy initiatives.