Bringing Blockchain Technology in Innovating Industries: A Systematic Review

Abstract

The mainstream digital technology uses significantly changes how industry protect their records due to new security and vulnerability challenges. Leveraging cryptography, blockchain technology enables large agile value chains, transaction transparency, and flexible integration with many digital technologies like Internet-of-Things and cloud computing. The capabilities of blockchain technology further empower secure transferable wide-range collaboration between industry allies and public sectors. Recognized by its potentials in driving innovation in industries, blockchain is expected to play significant roles in industrial transformation. This paper reviews the significant developments of blockchain applications in information systems of many industries. The review aims to provide insights on the advances of blockchain industrial applications including use cases, classifications, and emerging trends. We conducted a systematic review on published blockchain works from high-quality sources using formulated review questions, selection criteria, and processes. Summarizations of blockchain applications across many industries are presented including use cases, objectives, and application examples. Moreover, we classified and characterized the innovative features of presented blockchain applications based on the application’s distinct characteristics. Subsequently, summarization of emerging trends in blockchain applications based on recent industry use cases and implemented features are discussed. This paper highlights the consequential advances of blockchain in industries that eventually lead to research opportunities for future undertaking.