Journal of Current Research in Blockchain
Vol. 1 No. 2 (2024): Regular Issue September

Economic Decentralization through Blockchain Opportunities Challenges and New Business Models

Berlilana (Unknown)
Mu’amar, Arif (Unknown)



Article Info

Publish Date
03 Sep 2024

Abstract

Blockchain technology has emerged as a transformative force with the potential to decentralize economic systems and create innovative business models. This paper explores the opportunities and challenges associated with economic decentralization through blockchain, focusing on the development and sustainability of new business models such as Decentralized Finance (DeFi) platforms and Decentralized Autonomous Organizations (DAOs). The study employs a qualitative research design, incorporating a comprehensive literature review and detailed case studies of prominent blockchain-based platforms. The findings highlight the significant potential of blockchain to democratize access to financial services, enhance transparency, and reduce reliance on intermediaries. However, the study also identifies critical challenges that must be addressed for blockchain to achieve widespread adoption. These include scalability issues, regulatory uncertainty, and security vulnerabilities, all of which pose significant risks to the sustainability of blockchain-based business models. A SWOT analysis is conducted to provide a structured evaluation of these strengths, weaknesses, opportunities, and threats, offering insights into the strategic position of blockchain in various industries. The analysis reveals that while the opportunities for innovation and disruption are vast, the path to realizing these benefits is fraught with technical, legal, and operational challenges. The paper concludes that ongoing research, technological advancements, and regulatory clarity will be essential to unlocking the full potential of blockchain technology in driving economic decentralization.

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Journal Info

Abbrev

Journal

Publisher

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

The Journal of Current Research in Blockchain publishes high-quality research on: Blockchain technology Smart Contract Data Privacy Decentralization Data Distributed Ledger Technology Decentralized Applications Our goal is to provide a platform for researchers, practitioners, and policymakers to ...