Blockchain-Based Distributed Systems for Trust and Transparency

Abstract

The technology of distributed ledgers has the potential to transform a wide variety of different sectors by incorporating trust and transparency into the procedures of conducting transactions and exchanging data. In order to study the current status of research on blockchain-based distributed systems for trust and transparency, the objective of this literature review is to undertake a methodical analysis of research publications that have been published during the last five years. These articles were published in the preceding five years. This analysis is being conducted with the goal of determining the opportunities and challenges that may arise from the use of blockchain technology in a variety of sectors, including the healthcare industry, the management of supply chains, the provision of government services, and the financial sector. The publications that were reviewed provide evidence of both the breadth and complexity of the newly emerging field of study known as blockchain technology, as well as the ways in which blockchain-based distributed systems have the potential to improve features such as openness, accountability, and productivity in a range of settings. However, the papers also highlight the challenges associated with scalability, interoperability, regulation, and ethical considerations, as well as the necessity for additional research and engagement with stakeholder groups. This literature study, taken as a whole, offers helpful insights on the potential for blockchain technology to meet the growing need for accountability, traceability, and social responsibility in a range of settings. This finding also underscores the necessity of cross-disciplinary collaboration and the active participation of stakeholders in order to fully exploit the possibilities offered by blockchain technology.