Journal article Open Access

BLOCKCHAIN TECHNOLOGY AND ITS IMPACT ON THE GLOBAL ECONOMY

Rakesh Ramakrishnan

In this paper, we will be reviewing the research published by Dr. BurcuSakız (Istanbul Aydın University, Turkey) and Prof. Dr. AyşenHiçGencer (Beykent University, Turkey) on Blockchain Technology and its Impact on the Global Economy at the International Conference on Eurasian Economies (2019) (Gencer, 2019). We will be including a summary of the research article, findings, and concepts discussed. The paper starts with a quote that Data has acquired the position to be the most valuable resource. Smartphones and high-speed internet have resulted in an explosion of data. The paper denotes that innovative AI techniques can extract meaningful information from the data. There is a need to share the knowledge, made possible only through an autonomous and decentralized mechanism for fair sharing policy and just hoarded by Corporates around the world. This article covers the significance of Blockchain in our economy today. It addresses the functioning of Blockchain and some popular opinion on it. It also includes the history and evolution and concludes by stating how a single white paper published in 2008 brought forth a revolution.

 

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