Blockchain Technology: Revolutionizing Transactions in the Digital Age

Authors

  • Daniel Bennet Eduaward Incorporation
  • Lily Maria Pandawan Incorporation
  • Yulia Putri Ayu Sanjaya University of Raharja
  • Achani Rahmania Az Zahra University of Raharja

DOI:

https://doi.org/10.34306/ajri.v5i2.1065

Keywords:

Blockchain Technology, Digital Transactions, Technological Revolution, Decentralization, Trust and Security

Abstract

 Blockchain technology emerges as a transformative innovation reshaping traditional transactional processes, eliminating intermediaries, enhancing security, and improving trust through its decentralized and transparent ledger system. However, challenges such as scalability and regulatory concerns hinder widespread adoption. Concrete examples and statistics from research enhance clarity regarding Blockchain's impacts, elaborating on how these challenges directly affect the adoption of Blockchain Technology in digital transactions. By analyzing case studies and current trends, this research underscores the efficiency and reliability of Blockchain implementation compared to traditional methods, advocating for widespread adoption to foster transparency, efficiency, and trust across diverse sectors. It emphasizes the necessity for organizations to adapt to stay competitive in the increasingly complex digital landscape, suggesting that a better understanding of Blockchain's impacts and challenges will aid organizations in taking strategic steps towards its long-term adoption.

Downloads

Download data is not yet available.

References

A. Pambudi, N. Lutfiani, M. Hardini, A. R. A. Zahra, and U. Rahardja, “The Digital Revolution of Startup Matchmaking: AI and Computer Science Synergies,” in 2023 Eighth International Conference on Informatics and Computing (ICIC), 2023, pp. 1–6.

M. Khalil, K. F. Khawaja, and M. Sarfraz, “The adoption of blockchain technology in the financial sector during the era of fourth industrial revolution: a moderated mediated model,” Qual. Quant., vol. 56, no. 4, pp. 2435–2452, 2022.

N. Wiwin, P. A. Sunarya, N. Azizah, and D. A. Saka, “A Model for Determine Upgrades for MSMEs using Analitical Hyrarcy Process,” ADI J. Recent Innov., vol. 5, no. 1Sp, pp. 20–32, 2023.

I. Handayani, D. Apriani, M. Mulyati, N. A. Yusuf, and A. R. A. Zahra, “A Survey on User Experience of Blockchain Transactions: Security and Adaptability Issues,” Blockchain Front. Technol., vol. 3, no. 1, pp. 160–168, 2023.

R. Habibi and A. C. Panjaitan, “A Model for Blood Bank Facility-Location Problem at Post Disaster Area,” ADI J. Recent Innov., vol. 4, no. 2, pp. 128–137, 2023.

C. Laroiya, D. Saxena, and C. Komalavalli, “Applications of blockchain technology,” in Handbook of research on blockchain technology, Elsevier, 2020, pp. 213–243.

E. Sulistyaningsih, W. Murti, and C. Ratnasih, “Analysis of E-Marketing Strategy and Business Innovation in Optimizing Improvement of Service Quality and Its Effect on MSME Income,” ADI J. Recent Innov., vol. 5, no. 2, pp. 155–167, 2024.

R. Rajmohan, T. A. Kumar, M. Pavithra, and S. G. Sandhya, “Blockchain: Next-generation technology for industry 4.0,” in Blockchain Technology, CRC Press, 2020, pp. 177–198.

M. H. R. Chakim, M. Hatta, A. Himki, A. R. A. Zahra, and N. N. Azizah, “The Relationship Between Smart Cities and Smart Tourism: Using a Systematic Review,” ADI J. Recent Innov., vol. 5, no. 1Sp, pp. 33–44, 2023.

A. B. Evans et al., “Qualitative research in sports studies: Challenges, possibilities and the current state of play,” European Journal for Sport and Society, vol. 18, no. 1. Taylor & Francis, pp. 1–17, 2021.

M. M. Khan, N. T. RoJa, F. A. Almalki, and M. Aljohani, “Revolutionizing E-Commerce Using Blockchain Technology and Implementing Smart Contract,” Secur. Commun. Networks, vol. 2022, 2022.

A. Sprake and C. Palmer, “Understanding the interpretive paradigm: a guide for sports students learning through qualitative research,” J. Qual. Res. Sport. Stud., vol. 16, no. 1, pp. 45–68, 2022.

S. Namasudra, G. C. Deka, P. Johri, M. Hosseinpour, and A. H. Gandomi, “The revolution of blockchain: State-of-the-art and research challenges,” Arch. Comput. Methods Eng., vol. 28, pp. 1497–1515, 2021.

D. Jonas, E. Maria, I. R. Widiasari, U. Rahardja, and T. Wellem, “Design of a TAM Framework with Emotional Variables in the Acceptance of Health-based IoT in Indonesia,” ADI J. Recent Innov., vol. 5, no. 2, pp. 146–154, 2024.

W. Y. Ng et al., “Blockchain technology for ophthalmology: coming of age?,” Asia-Pacific J. Ophthalmol., vol. 10, no. 4, pp. 343–347, 2021.

E. A. Beldiq, B. Callula, N. A. Yusuf, and A. R. A. Zahra, “Unlocking Organizational Potential: Assessing the Impact of Technology through SmartPLS in Advancing Management Excellence,” APTISI Trans. Manag., vol. 8, no. 1, pp. 40–48, 2024.

T. Hariguna, Y. Durachman, M. Yusup, and S. Millah, “Blockchain technology transformation in advancing future change,” Blockchain Front. Technol., vol. 1, no. 01, pp. 13–20, 2021.

N. N. Rafiana, “Technopreneurship Strategy to Grow Entrepreneurship Career Options for Students in Higher Education,” ADI J. Recent Innov., vol. 5, no. 2, pp. 110–126, 2024.

M. A. Faiz, D. S. Kusumo, and M. J. Alibasa, “Flutter Framework Code Portability Measurement on Multiplatform Applications with ISO 9126,” in 2022 1st International Conference on Software Engineering and Information Technology (ICoSEIT), 2022, pp. 36–40.

G. I. Arb and K. Al-Majdi, “A freights status management system based on Dart and Flutter programming language,” in Journal of Physics: Conference Series, 2020, vol. 1530, no. 1, p. 12020.

B. Bhima, A. R. A. Zahra, T. Nurtino, and M. Z. Firli, “Enhancing Organizational Efficiency through the Integration of Artificial Intelligence in Management Information Systems,” APTISI Trans. Manag., vol. 7, no. 3, pp. 282–289, 2023.

R. Heriyanto, T. Mariyanti, and A. R. A. Zahra, “Microfinance Management Strategy Using Poverty Reduction Technology,” in 2023 11th International Conference on Cyber and IT Service Management (CITSM), 2023, pp. 1–5.

B. P. Setiawan and M. Zaki, “Landslide Management for Batu Tulis–Cross Bogor–Sukabumi Station Double Lane Project at STA 5+ 550,” ADI J. Recent Innov., vol. 5, no. 2, pp. 168–180, 2024.

S. R. Yerram et al., “The Role of Blockchain Technology in Enhancing Financial Security amidst Digital Transformation,” Asian Bus. Rev., vol. 11, no. 3, pp. 125–134, 2021.

A. Zefrinaldi, N. Selviandro, and G. S. Wulandari, “Analysis and Development of a Football Scouting App based on Flutter: A Case Study of A3N,” ADI J. Recent Innov., vol. 5, no. 2, pp. 181–191, 2024.

Downloads

Published

2024-03-31

How to Cite

Bennet, D., Maria, L., Putri Ayu Sanjaya, Y., & Rahmania Az Zahra, A. (2024). Blockchain Technology: Revolutionizing Transactions in the Digital Age. ADI Journal on Recent Innovation, 5(2), 192–199. https://doi.org/10.34306/ajri.v5i2.1065

Issue

Vol. 5 No. 2 (2024): March

Section

Articles

License

Copyright (c) 2024 Daniel Bennet, Lily Maria, Yulia Putri Ayu Sanjaya, Achani Rahmania Az Zahra

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.