ABSTRACT
Blockchain technology has seen unprecedented growth in the recent years. This new technology has been paid increasing attention by academic researchers and industry owners, as it is considered advanced technology that could bring enormous benefits to many domains, including business. We aim through this research to shed some light on Blockchain technology and highlight its most important growing applications in business.
The analysis of multiple blockchain applications in international finance, banking and insurance, supply chain management and logistics, and marketing and advertising shows that the use of blockchain in international business has different impacts on global governance.
An empirical study in the form of an online survey was conducted to examine the realization of benefits in practice. The research concluded that blockchain does indeed provide promising benefits for marketing, but that depends on whether marketers use public (permissioned) blockchain or private (permissioned) blockchain, and also the ability of the blockchain community to resolve fundamental challenges and pending issues such as scalability, speed, interoperability, and privacy, besides several others.
