AN OVERVIEW OF BLOCKCHAIN APPLICATIONS AND ITS IMPACT TO VIETNAM CONTEXT

Abstract

Explosion of information and communication technologies providing worldwide connection through the Internet as well as the unstoppable development of technology is transforming how development is done locally and globally. Blockchain technology aims to build applications based on decentralized architecture, in which has received extensive attention currently. A decentralized peer-to-peer system is applied to record pseudonymous transactions in trustless environment. It is believed that blockchain has a significant role for the rapid growth of application domains such as public services, Internet of Things, supply chain management. We provided a short introduction of blockchain technology. Finally, we also discussed the impacts and challenges when applying this promising technology in Vietnam context.