From Theory to Practice: A Literature Review on Blockchain Technology and its Applications

Abstract

Blockchain has moved well beyond its origins in cryptocurrency and is now being considered for use in finance, supply chains, healthcare, education, energy, land administration, and public services. This review examines how the literature has developed around these applications and what the evidence says about their practical value. It focuses on the main characteristics of blockchain, the sectors in which it has been applied, and the technical, organizational, and regulatory issues that may limit adoption. The reviewed literature suggests that blockchain can improve traceability, transparency, coordination, and trust where several parties need to share reliable records. At the same time, the evidence points to important trade-offs involving scalability, privacy, cost, governance, and integration with existing systems. The review therefore treats blockchain not simply as a promising technology, but as a technology whose usefulness depends on the context in which it is implemented.